MSME Minister Giriraj Singh chairs meeting on Bamboo Mission

New Delhi, July 12 (KNN) The Minister of State, Ministry of Micro, Small and Medium Enterprises (MSMEs) is holding a meeting with senior officials and other stakeholders on the National Bamboo Mission.  Key focus of the meeting might will the various issues surrounding the sector.

Also earlier this month, the bamboo producers raised concerns over the tax rate at which their item is placed under the newly implemented Goods and Services Tax (GST).

Under the GST, bamboo mattings are placed under the 12 per cent tax slab, the mat making industry raised fears that the high tax rate would impact the industry as earlier the cane and bamboo sector were exempted from VAT for the last 12 years.

In a press interview, K.J Antony, Chairman of Angamaly based Kerala State Bamboo Corporation informed that the workforce that is involved in making of the bamboo products come from a weak section and a higher tax rate would adversely impact the lives of these workers.

While bamboo matting attract a 12 per cent tax rate, bamboo plywood is placed under 18 per cent slab in the GST.

These issues of the industry are likely to be taken up before the Ministry and officials at the meeting today. (KNN/ DA)