It has been one year of GST; although it still needs some clarity, the difficult phase has passed off and things seem to be moving in the right direction. The initial state of uncertainty has been come to terms with and the country is now adjusting to this new taxation system very well. This will definitely take some time but it can be safely said that things have smoothen out. There is no doubt that the exporting community was confused in the beginning with the GST and the Council has been from time to time holding Workshops/Seminars/Interactive Meetings inviting experts on GST to explain and educate on the intricacies of GST. I would like to once again reassure you that the Council is always there to assist and help you out in such situations.
The main hurdle exporters went through was the refund of GST and the Council had met the authorities and submitted representations to the Commissioner, Central Board of Indirect Taxes and Customs, New Delhi regarding difficulty faced by member-exporters while uploading their Statement- 3A for the purpose of filing refund applications, pending IGST refund claims, etc.I am pleased to inform that most of our member- exporters have now received their long pending IGST refund claims. Also, the member-exporters are now able to upload their Statement- 3A for the purpose of filing refund application.
Friends, as you are aware that the GST Council in its 28th meeting held on 21st July in New Delhi has now allowed refund of accumulated ITC to fabrics on account of inverted duty structure. I would like to thank the Hon’ble Prime Minister, Shri Narendra Modiji, Hon’ble Finance Minister and Smt. Smriti Zubin Irani, Honble Union Minister of Textiles for taking the decision of allowing refund of accumulated ITC on fabrics. This has indeed been a great relief to the textile industry in general and fabrics manufacturers in particular. In the MMF textile segment most of the exporters rely on job work for getting their textile products manufactured. Hence due to the accumulated ITC, which remained unrebated, the increasing financial burden and liquidity crunch on the exporters as well as domestic manufacturers was substantial. Therefore this step of allowing refund of accumulated ITC on fabrics will benefit more than 5 lakh weavers and knitters in the country and will be a big boost to the MMF segment in particular. I had met the Hon’ble Finance Minister, Hon’ble Minister of Textiles, Secretary (Textiles), Officers of the Department of Revenue, GST Commissioner, etc. in this regard besides other issues with supporting data justifying that it will be of immense help to the weavers and knitters. I once again thank the Government on behalf of the Man-made Fibre Textile segment of the country for taking this move as it will also improve competitiveness of the Indian textile exports globally.
I am glad to inform you that the Council after opening an office in Coimbatore has opened its second office in Ahmedabad on 11th July 2018. The office in Ahmedabad is in the premises of GCCI and we are hopeful that the manufacturers-exporters of Ahmedabad region will take advantage of the services being offered by the Council. I would like to take this opportunity to thank Dr. Jaimin Vasa, President of GCCI and the office bearers for their support and assistance, GCCI is an esteemed organization in Ahmedabad and it is indeed our privilege to be associated with them. I am sure that this association will bring fruitful results to both GCCI and the Council.
The work on “Source India 2018” is shaping up and to further promote and publicize the event the Council is holding Road Shows in the country as well as abroad. The Road Shows which were held in Bhiwandi, Surat and Ahmedabad received excellent response from the exporting community and we are confident that it will help us in garnering Indian participants for the Show. Similarly, Road Shows are being organized in overseas countries; this time the Council is emphasizing on the Latin American and African region besides ASEAN countries. Road Shows were held in Mexico, Peru, Colombia, Brazil, Egypt, Morocco, Vietnam, Thailand, Myanmar, Turkey and Moldova which have immense potential for MMF textiles, which have helped usto create awareness about the Event abroad and mobilize genuine buyers from these countries to visit the Show. The Council is making all out efforts to ensure that “Source India 2018” will be a success like its earlier one. I once again urge the members to take part in large numbers and take advantage of this unique opportunity of meeting more than 200 overseas buyers from different countries and discussing business under a single roof.
I may proudly say that our Council is proactive in its various activities in the country and abroad through its various Exhibitions/Fairs/Shows and expanding its pan-India activities by setting up Regional Offices in various corners of the country to help exporters of MMF textiles to gain foothold in the global market. It is my request to all those members who may have missed the reminders for renewal and not yet done so to renew their membership immediately to avail our services uninterruptedly.