Indian apparel body urges govt to clear the pending RoSL claims

Source: https://apparelresources.com

Indian textile and apparel body Tirupur Exporters Association has urged the Union Minister of Textiles, Smriti Zubin Irani and Raghvendra Singh IAS, Secretary, Ministry of Textiles to clear the RoSL pending claims on urgent basis.

TEA has stated that the Rebate on State Levies (RoSL) claims are yet to be cleared by the government for the last three months. The textile and apparel body also marked out that RoSL is offered primarily to compensate the embedded taxes which are not included in GST like petro products, electricity tax, Mundy tax and others.

Raja M Shanmugham, Chairman, TEA marked out that the apparel export sector recently managed to register a positive trend after facing a declining trend for the last 12 months, adding that the implementation of GST for garment export sector from 1st October 2017 also affected the exports. The chairman further said that he expects the positive trend to continue for the upcoming months.

“Tirupur knitwear cluster’s pending RoSL goes up to Rs. 105 crores, 1.7 per cent Free-on-Board value of exports. Settlement of these pending claims will significantly benefit the exporting units during a time when they are operating under a very thin margin and struggling to stay competitive in the price conscious international market,” Shanmugham said.

It is important to add here that, Indian exporters have to compete against markets which are already free from paying Duty fee to conduct business activities in the EU and US locations.

Furthermore, to stay competitive in the global market, the domestic exporting units are taking different measures to cut down on their expenses.



Categories: Apparel, Asia, Business, Europe, India, Textile, USA

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