AEPC raised an issue of refunding embedded Tax on Industry
The Apparel Export Promotion Council (AEPC) vice-chairman, A. Sakthivel has raised an issue during the meeting with Smriti Irani, Union Textiles Minister at her office in New Delhi recently. He discussed the issue of refunding of the embedded tax ranging from 4 to 5 per cent on the Textile Industry. He claims that it might bridge the gap between reduced drawback and rebate on state levies (RoSL).
Sakthivel thanking Irani on behalf of the Industry for her support and efforts to revive the textile industry also urged the minister to discuss the Free Trade Agreement issue with the commerce ministry, Suresh Prabhu for further growth of exports in view of duty free status to competitive countries.
Recently, textile bodies such as AEPC and Tiruppur Exporter’s Association (TEA) thanked government for extending Merchandise Exports from India Scheme (MEIS) for garments and made ups beyond June 2018 by the Ministry of Commerce and Industry. The MEIS extension will help the industry to restore the competitiveness of exports and increase its share in the world market.
– Apparel and Textile News, Apparel Talk, Indian Apparel