Coimbatore: SIEMA and CODISSIA welcome TN government's initiative in providing exemption from stamp duty and reduction of registration fees
Coimbatore: The Southern India Engineering Manufacturers(SIEMA) president, K.V.Karthik and Coimbatore District Small Industries Association(CODISSIA) president, R. Ramamurthy said, "We wholeheartedly thank Chief Minister Edappadi K. Palaniswami, Deputy Chief Minister O. Panneerselvam, Minister for Municipal Administration, Rural Development and Implementation of Special Programmes S.P. Velumani, Minister for Commercial Taxes, Registration and Stamp Act K.C. Veeramani, Minister for Industries M.C.Sampath and Minister for Rural Industries P. Benjamin for considering our representations.
Government has given full exemption from stamp duty in respect of registration of agreement relating to deposit of title deeds executed for securing loans availed under the emergency credit line guaranteesScheme from banks and financial Institutions by micro, small and ,medium enterprises under 'Atma Nirbhar Bharat Abhiyaan', upto 2021, March, 31. Registration fee to the extent of 0.1% on the loan amount in respect of registration of agreement relating to deposit of title deeds on loans and additional loans granted by the banks and financial institutions to micro and small Enterprises has been reduced.
We admit with gratitude that this is a great relief for the MSMEs during this pandemic situation and therefore place on record our sincere thanks to the Government for this timely support and consideration of our request."