GST Council to meet on Saturday to discuss issues faced by MSMEs
New Delhi, Aug 3 (KNN) The Goods and Services Tax (GST) Council headed by Finance Minister Piyush Goyal will meet on Saturday to discuss about the issues faced by the micro, small and medium enterprises (MSMEs) specifically.
The decision to hold a separate meeting for MSME sector related issues was taken during the 28th GST Council Meeting held on 22nd July, 2018.
The format of the 29th meeting of the Council—the highest decision-making body under the indirect tax system--will be different this time as they will be meeting without any formal consolidated agenda note.
For this meeting, industry bodies for MSMEs like FISME and Laghu Udyog Bharati have been invited.
The meeting will consider all aspects of GST, with a focus on laws, simplification of policy, reducing compliance burden and technology-related issues affecting the MSME sector.
In this regard, the Directorate General of Goods & Services Tax (DGGST) has asked FISME and LUB to submit grievances / issues related to the GST with respect to MSME Sector along with its suggestions for mitigating these issues.
Talking to KNN, industry body FISME informed that it has been taking inputs/ feedbacks from MSMEs and MSME associations over the issues they are facing under the GST regime.
FISME has been actively submitting representations to the GST Council and Finance Ministry listing concerns and suggesting measures for the MSMEs from across sectors. (KNN Bureau)