TEA Thanks Central for IGST Exemption Extension upto March 31
Tiruppur Exporters’ Association (TEA) President, Raja M Shanmugham recently in a press release said Central Board of Indirect Taxes has issued a notification extending the exemption payment of IGST for imports of machinery under EPCG scheme and inputs, raw material under Advance Authorization Schemes up to 31.3.2020, a great relief to the importers.
TEA president said the Association has been taking a lot of efforts through representations for getting the extension for another one year as the number of exporting units and also knitwear stakeholder units are importing Machinery to meet the requirements of buyers. He pointed out that the payment of IGST for import of machinery under the EPCG scheme could not be claimed as refund as the payment is for capital goods.
Shanmugham thanked Suresh Prabhu, Union Minister of Commerce & Industry, Ministry of Commerce & Industry, Smriti Zubin Irani, Union Minister of Textiles, Dr. Anup Wadhawan, Secretary, Department of Commerce, Alok Vardhan Chaturvedi, DGFT, PMO Office and Chairman, CBIC for the extension.
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