FIEO seeks uniform GST rate for textiles, leather sectors in TN

Posted by Daily Shipping Times on 01-06-2017        Tweet

CHENNAI: In a representation to the Tamil Nadu Government, the Federation Of Indian Export Organisations (FIEO) sought uniform GST rates for textiles and leather sector, two major industry segments in the State accounting for significant export revenue and employment generation.

FIEO representatives presented their case ahead of the crucial GST Council meeting to be held on June 3.

Rafeeque Ahmed, Vice President, FIEO said that the apprehensions of leather exporters that GST will affect their liquidity needs to be addressed.

The SGST component could be loaded to IGST for an efficient drawback mechanism that will ensure immediate refund to the exporters.

IGST and SGST component adjustment can be taken care by the system. He also urged that the uniform rate of GST be levied on all forms of leather at 5 per cent instead of different slabs for finished, semi-finished leather.

Jayakumar, Finance Minister, Tamil Nadu assured the State Government will provide all possible support for enhancement of State’s share in international trade.