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Coimbatore, Jan. 2 The Tirupur Exporters Association has expressed disappointment with the second stimulus package.

The TEA President, Mr A. Sakthivel, said the association’s request to consider a five-year tax holiday for garment exporters, two-year moratorium from payment of term loan and interest, exemption from payment of service tax and fringe benefit tax instead of the refund of tax on few services have all been ignored.

So too is the request on increase in the duty drawback rate on cotton knitwear garments to 12 per cent, seven per cent packing credit or interest subvention at 4 per cent with retrospective effect from October 1, 2008.

More Stories on : Knitwear & Hosiery | Exports & Imports | Tamil Nadu | Economy

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