During the next GST council meeting to be held in Madurai, TN govt will take up the requests placed by MSMEs and the motor pump manufacturers to reduce GST from 18% to 12% - State FM during an interactive session organised by CII and ICCIC.
Coimbatore: Within a time frame of two to three weeks, the state government will announce the "Samadhan" scheme for value added tax (VAT) regime, said Minister For Finance And Human Resources Management, Dr. Palanivel Thiaga Rajan in Coimbatore, on Thursday.
Addressing a gathering at the special interactive session organised by the Confederation of Indian Industry, Coimbatore, and Indian Chamber of Commerce and Industry, Coimbatore, here on Thursday, the state Finance Minister interacted with industrialists and members of various industrial bodies from the region.
During the interaction, representatives of industrial bodies brought to the notice of the Finance Minister of various pressingissues faced by the industry, especially the GST. Especially, industrialists representing the motor pumpset manufacturing sector pointed the recent hike in GST tax from 12 per cent to 18 per cent.
Highlighting on the existing plight of the motor pumpset manufacturing sector, the pumpset manufacturers pointed that the industry is already facing serious issues including tough competition among others.With this current GST tax hike, the industry will be forced to face serious implications, they noted.
Similarly, representatives of Micro, Small and Medium Enterprises (MSMEs) from the district briefed on the impact of GST on their respective industries and requested him to be brought to the notice at the GST Council meet.
Addressing the gathering, Finance Minister, Palanivel Thiaga Rajan said that TN Chief Minister M.K.Stalin is keen on taking the industries to the next level.
Responding to an appeal made by an industrialist to enable the GST helpline respond in regional languages, which at present responds only in Hindi, the Minister assured to take up the issue with the union government and ensure that the service is offered in English and other regional languages.
During the next GST council meeting which will be held in Madurai, Tamil Nadu Government will take up with the union government the requests placed by MSMEs and the motor pump manufacturers to reduce GST for motor pumps and wet grinders from 18% to 12%, noted the FM who is also a member of the GST Council.
Acknowledging the fact that financial and human resources play a pivotal role for the growth and sustenance of MSMEs, the FM said that around 80 per cent of the funds allotted by the centre don't reach the MSMEs property,he pointed.
Stating that a State GST appellate tribunal will be setup to resolve the issues faced by MSMEs related to GST, he added that the Samadhan scheme to settle pending Value Added Tax (VAT) related issues will be implemented soon.
Responding to a query on welfare of migrant workers employed in various industries, the FM who also holds the Human Resources Management portfolio, said that through Public-Private-Partnership (PPP), the State government would try to setup hostels close to industrial establishments to benefit the labourers.
Briefing on the measures taken to generate new job opportunities, he said that steps are being taken to provide vocational courses in the field of higher education to generate employment opportunities for the youth.
A study on industrial sectors which has more scope of providing highest employment opportunities is underway. Though, the proportion of students enrolling for higher education in Tamil Nadu is much higher than the national average, however, that alone will not suffice to provide employment opportunities. In a bid to address the gap between education and employment, stringent steps have been taken to improve ITIs, to improve the skill set of students, the FM noted.