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20/09/2021 01:01pm

Delay in bringing diesel & petrol under GST hurting MSMEs: KASSIA

image Delay in bringing diesel & petrol under GST hurting MSMEs: KASSIA

New Delhi, Sept 20 (KNN) Reacting to the recommendations of the 45th GST Council, Karnataka Small Scale Industries Association (KASSIA) said the continued delay in bringing diesel and petrol under GST is extracting a heavy price from the industries.

KASSIA said “While no one is disagreeing with the need to bring diesel and petrol under GST, this kicking the can to a later date is only hurting the industries, especially the MSMEs who are large in number and whose business margins are thinning due to a variety of factors beyond their control.”

KASSIA observed once diesel and petrol come under GST, their price will come down and this will improve the margins of the micro and small enterprises and thus make them more competitive.

On extending exemption of export goods transport by vessel and air from GST till September end, KASSIA averred that it would have been better if the exemption was made available for a few more months. Anecdotal experience showed that it took that much amount of time for setting right the technical glitches related to refund of input tax credit in the GST portal, which was originally the reason for granting such exemption.

KASSIA also welcomed the move to exempt GST on national permit fees charged by States saying it would give some relief to the industries concerned.


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