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08/08/2018 12:46pm

Coimbatore associations raise concern over possibility of traders registering themselves as MSEs due to turnover criteria

image Coimbatore associations raise concern over possibility of traders registering themselves as MSEs due to turnover criteria

Coimbatore, Aug 8 (KNN) Several industry associations from Coimbatore have jointly urged the District Collector to recommend the Union Minister for MSME to impart suitable corrections in certain clauses of the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2018.

A joint petition in this regard was submitted by the Coimbatore Compressor Industries Association, Coimbatore Sidco Industrial Estate Manufacturers’ Welfare Association, Coimbatore Wet Grinder Manufacturers’ Association and Laghu Udyog Bharati, Coimbatore.

In the petition they expressed fear that the big traders are likely to register themselves as micro, small or medium enterprises (MSMEs) under the GST regime.

The petitioners have asked for inclusion of a clear-cut clause in the Bill to check traders from getting registered as micro or small units.

According to them, the amendment empowers the Government to raise turnover limit to define a MSME up to Rs 225 crore. They wanted the Central Government to remove the clause regarding turnover limit increase from the Bill.

The petitioners also wanted a clarity over need to approach the District Industries Centre every year to get classified or re-classified as their turnover are subjected to increase or decrease. Such situation will not facilitate ease of doing business.

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