The Tamil Nadu Pumps and Spares Manufacturers Association (TAPMA) has urged Chief Minister C. Joseph Vijay to introduce tax relief measures for micro industries by exempting them from Professional Tax and reducing Property Tax on small manufacturing units across the State.
Coimbatore: Citing the growing financial burden on small manufacturing units, the Tamil Nadu Pumps and Spares Manufacturers Association (TAPMA) has urged Chief Minister C. Joseph Vijay to waive Professional Tax for micro industries employing fewer than 10 workers and reduce Property Tax by bringing industrial property tax rates for such units on par with residential properties.
Briefing on the issue, TAPMA President Kalyansundaram said the association had submitted a detailed representation to the Chief Minister highlighting the growing financial challenges faced by micro enterprises.
He noted that Tamil Nadu is one of India's largest MSME hubs, with nearly 40 lakh MSME units, around 90 per cent of which are micro enterprises employing fewer than 10 workers. These units, he said, form the backbone of the State's manufacturing sector by contributing significantly to industrial output, employment generation and economic growth.
The recent increase in local body levies, particularly Professional Tax and Property Tax, has placed an additional financial burden on micro industries, many of which operate with limited capital and narrow profit margins. The higher tax incidence has affected their competitiveness, operational sustainability and capacity to generate employment, he added.
Expressing confidence in a favourable response from the government, the association said the proposed measures would provide much-needed relief to small manufacturing units, improve the ease of doing business and strengthen the long-term sustainability of the micro manufacturing sector.
Briefing on the issue, TAPMA President Kalyansundaram said the association had submitted a detailed representation to the Chief Minister highlighting the growing financial challenges faced by micro enterprises.
He noted that Tamil Nadu is one of India's largest MSME hubs, with nearly 40 lakh MSME units, around 90 per cent of which are micro enterprises employing fewer than 10 workers. These units, he said, form the backbone of the State's manufacturing sector by contributing significantly to industrial output, employment generation and economic growth.
The recent increase in local body levies, particularly Professional Tax and Property Tax, has placed an additional financial burden on micro industries, many of which operate with limited capital and narrow profit margins. The higher tax incidence has affected their competitiveness, operational sustainability and capacity to generate employment, he added.
Expressing confidence in a favourable response from the government, the association said the proposed measures would provide much-needed relief to small manufacturing units, improve the ease of doing business and strengthen the long-term sustainability of the micro manufacturing sector.