22.02.2023: MSMEs demand separate GST slab

The Federation of Coimbatore Industrial Associations (FOCIA), has urged the Union government to introduce a separate GST slab for the products of micro, small and medium enterprises (MSME) as they could not compete with the big companies.

Members of 20 MSME associations met on Sunday and discussed problems faced by them.

One of the organisers J James said MSMEs have been facing difficult times ever since GST was introduced. “We could not compete with the major manufacturers as both of us have same GST slabs. So there is need for separate GST slabs for the MSME sector. ..

He added that loans should be provided at subsidised rates to the MSMEs sector like to the agriculture sector.

“The profit margin would be improved if interest rates for loans were brought down. “

The recent hike in the power tariff by the state government has also created hardship for the sector. He urged the government to abolish the peak time power consumption model and withdraw the hike in fixed charges.

Source: The Times of India

Register Today