New Delhi, Dec 5 (KNN) The government still continue to levy Goods and Services Tax (GST) rate of 18 percent on industrial lease rent and land transfers in Noida which has aggravated the problems of Micro, Small and Medium Enterprises (MSMEs) in the region, Noida Entrepreneurs Association informed.

Talking to KNN, Vipin Malhan, President of Noida Entrepreneurs Association (NEA) informed that the government has been neglecting the demand of the industry in Noida for full waiver of the GST levied on transfers of land and on industrial lease rent.

He added that the 18 percent GST rate levied on leased rent had added unnecessary burden on the MSMEs, reducing their working capital and hampering their businesses.

Comparing the difference between the present and previous tax regime, Malhan said that earlier, the industrial units in the Noida region were exempted tax on rent, but under the GST, 18 per cent tax is imposed on the lease rents.

He said the residents of Noida have also been protesting against this GST rates.

The industry has time and again made representations before different authorities but there have not been a favourable response along the line so far, Malhan informed. His association also recently met RK Tiwari, member of GST council urging the council to take cognizance of their woes, he added. (KNN/AG)