‘Extend IGST exemption, say industrialists

TIRUPUR: Knitwear industrialists have urged the central government to extend exemption of IGST on importing machineries under the Export Promotion Capital Goods (EPCG) scheme.
“The government has allowed the exemption till September 31. If the exemption is not extended, it will affect the industrialists. Since more than 80% of the companies in Tirupur knitwear cluster were micro, small and medium enterprises (MSME), they will be forced to bear extra burden if they were forced to make upfront payment of IGST,” said Tirupur Exporters’ Association president Raja M Shanmugham.tnn