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Friday, November 15, 2024

Home Business Textile exporters are annoyed over excessive delays of sales tax refunds

Textile exporters are annoyed over excessive delays of sales tax refunds

by News desk
September 8, 2022
in Business

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The Value-Added Textile Exporters are highly annoyed over excessive delays caused in release of their Sales Tax Refunds worth billions of Rupees against Approved RPOs which has caused them financial hardships and liquidity crunch.

The recent economic uncertainty and political unrest has negatively affected almost all segments of the economy mainly the exports. Previously, the value-added Textile Exports has witnessed a great enhancement in Export growth of 27.60% For the month of July-August 2021(Fy-2021-22) which has faced a downfall of 23.85% and reached to the level of 3.75% for the month of July-August 2022 (Fy-2022-23) which is alarming.—NNI