AEPC submits pre-budget proposals to Indian ministry

Source: http://www.fibre2fashion.com

Exemption of international goods and services tax (IGST) on imports under the Export Performance Certificate (EPC) scheme, reduction of GST on air freight, exempting apparel buying agents from GST and improvements in the 24X7 customs clearance facility are part of the suggestions by India’s Apparel Export Promotion Council (AEPC) to the textiles ministry.

AEPC requested the ministry in a memorandum to take up its pre-budget proposals with the GST Council, the finance ministry and the Director General of Foreign Trade.

Due to certain administrative issues, round the clock customs clearance facility is not available to exporters, said AEPC. It also demanded duty-free import of sample fabric under the EPC scheme, increasing the rate of interest equalization from 3 per cent to 5 per cent, conducting a textile census and starting a textile development fund with contributions from the textiles and commerce ministries and the NITI Aayog.



Categories: Apparel, Asia, Business, India, Textile

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