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28 Feb 2024, Edition - 3151, Wednesday

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Coimbatore

TN urged to bring down job order GST to 5 p.c.

Covai Post Network

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COIMBATORE: Coimbatore District Small Industries Association (CODISSIA) on Thursday urged the Tamil Nadu Government among other things to bring down job order GST from 18 per cent to five per cent, as was done to the textile industry, to save the sector from working capital shortage.

These MSMEs do not have any land or building and hence mortgage to the bank are not possible for getting additional funds, it said.

In a memorandum submitted to State Fisheries Minister D. Jayakumar regarding issue faced by MSMEs from the GST, CODISSIA President R Ramamurthy suggested refund for pump manufacturing and to increase the minimum limit of Rs. 1 lakh to at least Rs. 2 lakh in E-way bill.

On composition scheme, though the increase of limit from Rs. 75 lakh to Rs.1.5 crore, was an excellent decision, the MSME request the GST Council to include job order and service industry into the scheme otherwise more than half of the MSMEs will not sustain, Ramamurthy said.

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