ENA State 2018-03-08 10:44:05 <p><strong>New Delhi, Mar 8 (KNN)</strong> In a meeting with Union Minister for Micro, Small and Medium Enterprises Giriraj Singh, Federation of Industrial &amp; Commercial Organization (FICO) representatives raised their concerns and issues related to MSME in Ludhiana.</p> <p>FICO president Gurmeet Singh Kular, and their other representatives raised the major issue of goods &amp; service tax (GST) refunds.</p> <p>Gurmeet Singh Kular in a press interview said Crores are lying with the state and Union government.</p> <p>He said that 100% GST refund of exporters is stuck with the government and also industry is paying huge interest to banks.</p> <p>He added that the Union minister assured that from next month refunds will be given.</p> <p>Traders also urged the minister to issues the notification for the change in definition of micro, small and medium enterprises from investment in plant and machinery/equipment to annual turnover.</p> <p>United Cycle and Parts Manufacturers Association (UCPMA) General Secretary Rajeev Jain raised issue of losses incurred by MSMEs.</p> <p>In this regard minister said he will hold a meeting with industry representatives and also form a regulatory committee to regulate the steel prices.</p> <p>Besides this, association also demanded re-introduction of the Credit Link Capital Subsidy scheme to save the MSME sector.</p> 19259 http://knnindia.co.in/news/newsdetails/state/fico-raises-issues-of-msmes-in-ludhiana-with-giriraj-singh 2018-03-08 10:44:05 knnindia.co.in