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TEA hails export thrust schemes
Our Bureau
Coimbatore
,
April 7
The Tirupur Exporters Association (TEA) has said the advance authorisation scheme, replacing the advance license scheme in the annual foreign trade policy, unveiled today will help the exporters import inputs in small quantities.
The TEA is also appreciative of the new policy initiative that has factored the incidence of un-rebated service tax and fringe benefit tax on exports into various duty neutralisation and remission schemes.
"Keeping this tempo, the Centre should immediately increase the drawback rate by 3 per cent to the garment sector so as to make it more export competitive. There is already a proposal in the drawback section of finance ministry to include the incidence of service tax on exports for purposes of drawback," the TEA President, Mr A. Sakthivel, has said.
In his reaction to the new supplement of export import policy, Mr Sakthivel said the Commerce Minister's wish of `exports are for jobs' had only underscored his organisation's long-term perspective on export trade.
While the introduction of focus `product' and `market' schemes is welcome, the garment industry, known for its employment generation, is not included under sectors for the focus `product' scheme which is to incentivise export of products having high employment intensity, he felt.
Another disappoint for the TEA, according to Mr Sakthivel, is that State levies such as sales tax, market committee cess, octroi and VAT suffered by the products exported are still allowed to continue without having any scheme for their remission.
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