The Kovai Power Driven Pumps and Spares Manufacturers’ Association has decided that small and micro pumpset manufacturing units and job working enterprises will support the candidate who gives an assurance to work on the demands of the Association in the Lok Sabha elections.

K. Maniraj, president of the Association, said in a press release that the Government had levied three-point GST on pumpsets - 12 % for pumpsets, 18 % and 28 % for components. Under Value Added Tax, it was 5 % for pumpsets and the components.

He claimed that nearly two lakh people had lost their livelihood because of 18 % GST on pumpsets and components. Hence, the tax on pumpsets should be reduced to 5 %.

The Union Government says several loans have been disbursed under the MUDRA. However, micro units in Coimbatore were unable to get collateral-free loans. The Government should release a white paper on details of credit disbursed under the MUDRA scheme to MSMEs.

The Coimbatore SIDCO Industrial Estate Manufacturers’ Welfare Association submitted its memorandum to the candidates contesting in Coimbatore. Its demands were related mainly to GST. The Association sought removal of reverse charge mechanism, reduction of GST for job working engineering units, simplification of GST forms, disbursement of MUDRA loans to MSMEs, inclusion of petroleum and diesel under GST, conduct of MSME facilitation council meeting once a month, and better infrastructure for industries located in the SIDCO industrial estate in Kurichi.

Published On : 01-04-2019

Source : The Hindu