The garment exporters of Tirupur and other parts of western districts have welcomed the Central Government’s move of raising the Goods and Services Tax (GST) exemption limit from Rs 20 lakh to Rs 40 lakh.
Union Minister of Finance Arun Jaitley had announced increasing the GST exemption limit from Rs 20 lakh to Rs 40 lakh on Thursday. This was almost instantly welcomed by garment exporters in Tirupur and Coimbatore region.
Mr. A Sakthivel, Vice Chairman, Apparel Export Promotion Council (AEPC), said, “this will definitely help Tirupur Knitwear industry, MSMEs in particular who are doing turnover up to 40 lakh. It will be helpful for industries, especially catering for exports and domestic. Small units who are involved in the process of knitting, embroidery, stitching units and mostly doing job work basis will also benefit a lot with this announcement.”