By Our Special Correspondent MUMBAI, FEB. 08
The Tirupur Exporters’ Association (TEA) has called upon the Finance Ministry to remove excise duty on branded garments. In its submission to the government TEA noted that in the last Budget, excise duty at the rate of 12% was imposed on readymade garments sold under a brand name in the domestic market and 30% of the retail sale price attracts 12% excise duty. As per the recent agreement with Bangladesh, the garments imported from Bangladesh do not attract any customs duty and also their prices are lower than the Indian products due to various factors.
Considering the employment and also to face the competition from the Bangladesh products, TEA has urged the authorities to remove the excise duty imposed on branded readymade garments. TEA has also requisitioned for zero per cent excise duty on man-made fibres. The excise duty for Manmade Fibre should be made it as zero which will help to increase the usage of manmade fibres and the production of garments which will ultimately help to increase the export of manmade fibre garments, as the global market is available for these garments throughout the year, TEA pointed out.
The Association also called for single registration for all manufacturing units. Facility of single registration for all manufacturing units should be provided as handling various offices at Delhi, Noida, Gurgaon is a very cumbersome and time consuming process. On Proof of Exports, TEA said that for the proof of export, the details duly certified by CA/ Chartered Engineer should be acceptable in lieu of thousands of papers currently being submitted, such as Invoice, Shipping Bill, AWB/BL and BRC for each clearance.
With regard to Duty Free Clearance, TEA noted that Duty Free clearance against Jobbing Notification 32/97 has now been linked with both customs and excise departments, which was earlier handled by customs only for all purposes. This should be restored, TEA urged. (Source: Tecoya Trend)