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Proposed amendments to MSME Act opposed by four associations of MSME

Under the goods and service tax (GST), big traders engaged in selling imported products can get registered as a micro or small enterprise, the associations said. Therefore, there should be a clearcut clause to bar such a registration, they added. They termed as 'ridiculous' a clause that empowered the government to raise the turnover limit up to Rs 225 crore to define a micro/small enterprise and wanted it to be scrapped


PTI Last Updated at 06 Aug 2018, 18:08 IST India

Four associations of micro, small and medium enterprises (MSMEs) here today expressed concern over certain clauses in the proposed amendments to the MSME Act, claiming these would only benefit large-scale traders and companies. In a memorandum submitted to the district Collector T N Hariharan, the associations said the amendments would defeat the main objective of the Act which was to facilitate the promotion of indigenous micro and small units.

Under the goods and service tax (GST), big traders engaged in selling imported products can get registered as a micro or small enterprise, the associations said. Therefore, there should be a clearcut clause to bar such a registration, they added. They termed as 'ridiculous' a clause that empowered the government to raise the turnover limit up to Rs 225 crore to define a micro/small enterprise and wanted it to be scrapped.

The other demands included a rollback of the withdrawal of concessions for micro and small units and abolition of duty/tax exemptions. The four associations are Coimbatore Compressor Industries Association, Coimbatore SIDCO Industrial Estate Manufacturers Welfare Association, Coimbatore Wet Grinder Manufacturers Association and Lagu Udyog Bharati.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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