Mysuru, Oct 12 (KNN) An awareness programme on NSIC Loan Facilitation Centre and GST is being organized for micro, small and medium entrepreneurs (MSMEs) in Mysuru on October 28.

Karnataka Small Scale Industries Association (KASSIA), a State level small scale industry representative body of Karnataka, National Small Industries Corporation (NSIC),Bengaluru, District Industries center, Mysore, Commissionerate of Customs, Excise & Service Tax, Department of Commercial Tax, Micro Small & Medium Enterprises Council, Mysore and Mysore Industries Association representative body of  Mysuru, Mandya and Chamarajanagara districts industries are together organizing the programme.

During the programme senior officers of Central Excise, Commercial Taxes, NISC and other eminent experts of the subjects will address the industrialists.

Only 7 % of Micro and Small Manufacturing & Service Enterprises are provided financial assistance from Financial Institutions. The rest have borrowed loans from private money lenders and finance companies by paying huge abnormal interest and penal interest, said Mysore Industries Association.

This is causing heavy hardship for the development their industries and they are under the clutches of money lenders and struggling for their existence. In this background, Ministry of MSME, Government of India, established NSIC Loan Facilitation Center to facilitate MSME sector for their required financial assistance by coordinating with nationalized Banks and Financial Institutions.

The Government of India is aiming to implement Goods & Service Tax effective from 1st April 2017 in all over India, which is being much awaited by industry and trade bodies as an ease of doing business.

To educate the industrialists in adopting GST and clear their doubts and confusions, senior officers of Central Excise and Commercial Tax department will interact and address the issues, the industry body added.

In this context, the awareness programme is being conducted for the MSMEs. (KNN Bureau)