March 20, 2019
Coimbatore : Tirupur Exporters Association today said the notification extending the exemption payment of IGST for imports of machinery under EPCG scheme and inputs, raw material under Advance Authorization Schemes up to March 31 2020, by Central Board of Indirect Taxes is a great relief to the importers.
The association has been taking a lot of efforts through representations for getting extension for another one year as number of exporting units and also knitwear stakeholder units are importing Machinery to meet the requirements of buyers, its President, Raja M Shabmugham said in a statement here.
The payment of IGST for import of machinery under EPCG (Export Promotion Capital Goods) scheme could not be claimed as refund as the payment is for capital goods, he noted.
He thanked union minister of Commerce and Industry Suresh Prabhu and Textile Minister Smriti Irani for extending the exemption.