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29 Feb 2024, Edition - 3152, Thursday

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Coimbatore

Exporters hail continuance of 4pc MEIS beyond June

Covai Post Network

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Coimbatore : Tirupur Exporters Association (TEA) today hailed the announcement to continue the 4 per cent MEIS (Merchandise Export from India Scheme) beyond June 30, saying it would be a major relief to exporting units.

In a statement, TEA president Raja M Shanmugham said that as per earlier public notices from Directorate General Of Foreign Trade, it was mentioned that the MEIS rate would be valid till June 30.

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Considering the requisition by TEA, DGFT has issued a public notice stating the continuance of 4 per cent MEIS beyond June 30,major relief to exporting units, he said.

“We have been requesting the Central Government to extend the validity period as the exporting units are struggling to sustain further due to reduction of Duty Drawback

Rate and Rebate on State Levies (ROSL) after implementation of GST and also delay in getting GST refund,” he said.

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