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Last updated: 19 Oct, 2016  

EPCH.9.Thmb.jpg Handicraft exporters seek exemption from GST bill

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Saurabh Gupta | 19 Oct, 2016
Apex handicraft exports body, Export Promotion Council for Handicrafts (EPCH) has urged Union Finance Minister to exempt handicrafts from Goods and Services Tax (GST), Rakesh Kumar, Executive Director, EPCH informed media on the last day of 42nd edition of IHGF-Delhi fair Autumn 2016 concluded Tuesday in Greater Noida.

A delegation of the manufacturers, exporters and industry associations from all over India under the banner of Export Promotion Council for Handicrafts (EPCH) met Hon'ble Union Minister of Finance, Arun Jaitley in New Delhi on Monday.

The delegation submitted the petition to the Finance Minister pertaining to the handicrafts sector highlighting the concerns of the sector in the forthcoming GST regime.

Rakesh Kumar said, that the Hon'ble Finance Minister gave a patient hearing to the delegation and the following points were discussed during the interaction such as Rate of GST on Handicrafts, Tax-Free Procurements for exporters of Handicrafts, Optimization of Working Capital, Rate of Duty Drawback, Loss of credits under various situations, Refund Mechanism in case of Exports, Job work procedure, GST on sale of scrips and its Utilization, Stock  from previous years.

As per Kumar the handicrafts sector has apprehensions that the GST regime may have certain tough tasks for the Small and illiterate force of the craftsperson’s engaged in the production of over 5 billion USD worth of handicrafts. The sector which has 100% exemption under Central Excise may be covered under the GST regime with higher taxes. This can make the products un- competitive in the international market.

Rakesh Kumar specifically mentioned that though the exporters are being allowed for refunds of taxes but there will be complete blockage of capital as presently proposed for refunds in the GST. The delegation sought the handicrafts sector to be exempted from the GST.

D Kumar, Chairman EPCH said that the Hon'ble Minister also enquired about the future growth of the handicrafts sector and assured that interests of the handicrafts sector will be safeguarded in GST. The Finance Minister also interacted individually with the representatives of associations about the products from their region and its growth prospects.

GST is one of the biggest taxation reforms in India and is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a National level. GST is all set to integrate the state economies and boost overall Growth.
 
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