RSS affiliate wants Goods and Services Tax amendment
The Laghu Udyog Bharti (LUB), an affiliate of the RSS, has asked the government to make amendments to the Goods and Services Tax (GST) Act, so that tax rebates could be provided to the micro, small and medium scale industries sector. GST, which is being showcased as a tax reform by the Modi government, will roll out across the country on July 1.
The LUB that claims to represent over 4,050 units in many districts wants separate laws for the MSME sector and reinstate the exemption that was allowed to enterprises with a turnover of ₹1.5 crore as the threshold limit. It has cautioned that unless amendments are made, the growth of the sector will be affected, by the “complex structure of filing returns” among other reasons. “We have demanded that changes must be made to the GST Act to reinstate the exemption limit and make amendments to the rules as well,” OP Mittal, national president of the LUB said here on Friday.
The Sangh affiliate has suggested that if the exemption is not provided, then MSE’S with a turnover of up to ₹2 crore should be allowed to be covered under zero rated duty in the current GST law, and the rate of tax should also be nil for these.