The Federation of Indian Exports Organisation, Southern region today urged the Central Board of Excise and Customs to continue duty drawback rates and Rebate of State Levies as it was largely affecting the industry.
FIEO, Southern Region Chairman, A Sakthivel who met CBEC Chairperson, Vanaja N Sarna in New Delhi today sought her intervention to continue the duty drawback rates and Rebate of State Levies.
Various industries in the Southern region including textiles, leather, agro, pharma had raised apprehensions that they would tend to lose competitiveness to other competing countries due to reduction of duty drawback rates, he said in a press release here.
"Exporters who have already committed orders are facing issues regarding timely refund of the GST," he said.
Responding to the queries raised by Sakthivel, Sarna assured that she will recommend it, as the system of GST refund was not ready.
Sakthivel also requested her to provide upfront GST refund to exporters based on GSTR-1 and GSTR-3B submission.
Yesterday, the Council for Leather Exports had said that the industry would require an additional capital requirement of "over Rs 3,000 crore" following implementation of the Goods and Service Tax.
"Because of GST, there will be an additional working capital requirement of over Rs 3,000 crore and since 80 per cent of businesses in this industry are small scale, they are finding it difficult," CLE Chairman Chairman Mukhtarul Amin had said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)