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23 Oct 2018, Edition - 1197, Tuesday

FLASH NEWS:

  • PMO summons CBI Chief and Special Director
  • Asthana, who is number two in the CBI’s hierarchy, has been booked in a bribery case by the agency in Moin Qureshi graft probe
  • Supreme court will take the decision on the hearing of 19 review Petition in Sabarimala case tomorrow
  • PIL has been submitted for CBI inquiry in Amritsar incident, approval awaited
  • Earthquake of magnitude 3.0 hit Himachal Pradesh’s Kinnaur at 9:11 am today
  • My government fixing one family’s mistakes, giving credit to leaders like Bose: PM Modi
  • CBI chief trying to frame me, special director Rakesh Asthana wrote to CVC
  • Government plans exam to recruit 6,000 judges for lower courts
  • Petrol pump owners are on a 24-hour strike in New Delhi

Coimbatore

TEA hails extension of IGST exemptions for machinery imports

Covai Post Network

COIMBATORE: Tirupur Exporters Association (TEA) on Saturday welcomed the extension of Integrated GST exemptions for imports of machinery under EPCG Scheme and inputs raw material under Advance Authorisation scheme for another six months.

In a statement, TEA President Raja M Shanmugham said that the 26th GST Council meeting decided to extend the exemption from March 31 to October 1.

He welcomed the Council decision after considering the requisition of the association and said it would be much helpful to the Tirupur Cluster who plan to go for import of machinery, particularly to the MSME exporting units when they have been under going financial crisis due to blockage of Government receivables like Rebate on State Levies (ROSL) and Duty Drawback including delay in getting GST Refund due to cumbersome procedures.

Raja Shanmugham also requested to give exemption from payment of IGST for import of accessories (or else) to give exemption as like in Pre GST period, when the accessories are imported under Export Performance Certificate (EPC), issued by Apparel Export Promotion Council, which was not not considered by the Council. which was very much needed as the exporting units have to pay the IGST in upfront and experiencing difficulties of cash blockage.

COIMBATORE WEATHER