Goods and Services Tax – GST – Dated:- 28-10-2017 – New Delhi, Oct 28 (PTI) Apparel exporters have brought up the problems faced by them post GST before a parliamentary panel, signalling the strong likelihood of a decline in garment shipments from India and possibility of job losses. The Apparel Export Promotion Council (AEPC) made a presentation to the Parliamentary Standing Committee (Rajya Sabha) on Commerce chaired by Naresh Gujral earlier this week. The body pressed for early consideration of tax refunds blocked on the purchase of ginned cotton (agricultural inputs such as agricultural machinery, seeds, fertilisers, power, diesel and the like) and miscellaneous central or state levies like power cross subsidy, stamp duty, property tax
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f GST is yet to be felt by garment industry where input costs have not come down. Overall effect of GST on apparel exporters, especially small and medium exporters, is burdensome and stressful due to substantial increase of working capital and higher transaction cost, AEPC Chairman Ashok Rajani said. It has not only impacted the production of apparel adversely, but has also led to pressure on margins for exporters due to lowering of drawback rates. The council, according to him, has informed the parliamentary panel that under the prevailing circumstances, there is a strong likelihood of exports from India dipping in the near future, as the global garment industry is very competitive. Further, competing countries like Bangladesh and Vietnam
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