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Proposed amendments to MSME Act opposed

Press Trust of India  |  Coimbatore 

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 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 upto Rs 225 crore to define a micro/small enterprise and wanted it to be scrapped.

The other demands included 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 Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 06 2018. 18:05 IST
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