Tamil Nadu MSME bodies hold meet to discuss the GST amendments' impact on MSMEs

Madurai, Dec 2 (KNN) Tamil Nadu Chamber of Commerce and Industry (TNCCI), along with Madurai Chapter of The Institute of Cost Accountants of India, has organised a seminar to discuss the impact of the latest amendments of Goods and Services Tax's (GST) on Micro, Small and Medium Enterprises (MSMEs).

Chamber president N Jegatheesan on Friday said that a large number of changes had been made in the new indirect tax system since its introduction in July 2017, while the Chamber senior president S Rethinavelu suggested the government to fix only two tax slabs under GST at 5% and 10%, in order to eliminate tax evasion and increase tax revenue.

Joint Commissioner of CGST and Central Excise, Madurai, V Pandiaraja informed the gatherings that 1,300 applications have so far been received by the Madurai Division “Under Sabha Vishwas Scheme 2019 introduced by the Central government.

''It reflects the awareness among taxpayers of the benefits of the scheme,” he added.

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