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22 Mar 2019, Edition - 1347, Friday

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Coimbatore

TEA seeks commercial tax division in Tirupur

Covai Post Network

Coimbatore : Tirupur Exporters Association (TEA) on Tuesday appealed to Tamil Nadu Government to form the proposed territorial division of commercial taxes at Tirupur considering the current and future business potential.

TEA president Raja M Shanmugham said in a statement that the Government had proposed to form a new division by including Tirupur, Erode and Karur areas with Erode as headquarters.

At present, the knitwear sector turnover of Tirupur cluster was Rs 42,000 crore and had set a target of reaching Rs 1 lakh crore by 2022.

More than 80 per cent of this contribution came from micro, small and medium enterprises, comprising about 8,350 units, he said. This was apart from the spinning mills in Tirupur and Palladam areas.

Considering the existence of MSMEs, knitwear units and the future growth of the sector, Shanmugham sent a requisition letter to State Minister for Commercial Taxes and Registration KC Veeramani to announce Tirupur as a headquarters for the envisaged new territorial division of commercial taxes.

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