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01 Mar 2024, Edition - 3153, Friday

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Pump industry growing by 10 to 20 per cent after GST implementation

Covai Post Network


Coimbatore : With a majority of MSMEs in the region claiming to have borne the brunt of GST, Tamil Nadu Pumpset Manufacturers Association (TAPMA) Saturday said that their business had grown by 10 to 20 per cent after the implementation of the Goods and Services Tax (GST).

As a major MSME hub, almost all the industrial associations in the region had claimed that their business was seriously affected due to GST implemented by BJP-led Government.

However, TAPMA president, Kalyanasundaram told reporters here that compared to pre-GST era, taxes were four per cent less after GST implementation, as there was reduction of central sales tax for the materials purchased from outside the region.

Besides, the removal of check posts and two per cent reduction in sales tax added to the growth of the business ranging from 10 to 20 per cent he said adding that the GST Council continues to reduce the tax burden as and when represented by the industries.

The association has 120 members and the only problem faced by the industries here was acute labour shortage, he said.

Stating that some other associations may be giving wrong information with regard to their business, Kalyanasundaram said that he has so far not gone through the data provided by the Tamil Nadu government that nearly 50,000 small industries were closed and five lakh workers were rendered jobless.

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