Industry asks the government to settle the outstanding RoSCTL funds as soon as possible
21st October 2021, Mumbai:
Due to a lack of money, the majority of clothing exporters have requested the government to clear the outstanding RoSCTL amount.
In a letter to M. Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC), Raja M. Shanmugham, President, Tirupur Exporters' Association (TEA), requested him to clear the fund on an urgent basis.
"Despite the weekly timetable for clearing each month's pending RoSCTL amount," Raja stated, "the pending amount has not been credited till today."
He went on to say that the Tirupur knitwear garment export sector, which employs 95 percent of MSMEs, is facing a liquidity crisis as a result of a number of negative factors, including the second wave of COVID-19's impact, and the units' obligation to pay bonus payments to workers for the upcoming Diwali festival.
Given the exporting units' crisis position, we respectfully urge that you intervene and arrange for the outstanding RoSCTL amount to be cleared as soon as possible so that the exporting units may pay their workers' bonuses and meet their financial obligations.
If we receive the return on a priority basis, it will assist the exporting units in overcoming their financial problem and pursuing unit expansion.
TOP 5:
2. Consumers will determine growth of sustainable fashion e-comm in India
3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
5. Nike strengthens retail presences with new store at DLF Mall of India,Noida
