Coimbatore-based association demands separate GST slab for MSMEs

Coimbatore, Feb 21 (KNN) Struggling to compete with big industries, the Federation of Coimbatore Industrial Associations (FOCIA) has sought for a separate GST slab for MSME products. 

These problems were discussed by members of 20 MSME associations last week.

One of the organisers J James said MSMEs have been facing difficult times ever since GST was introduced. 

“We could not compete with the major manufacturers as both of us have same GST slabs. So there is need for separate GST slabs for the MSME sector,” he said.

Like the agriculture sector, James suggested that MSME sector should be provided loans at subsidised rates.

“The profit margin would be improved if interest rates for loans were brought down,” he said.  (KNN Bureau)