MSMEs seek time to pay GST

 








The Micro, Small and Medium-scale Enterprises (MSMEs) here have appealed to the State government to take up with the Union government the need for time for the units to pay GST this month and next month.

The Commercial Taxes and Registration Minister P. Moorthy held a meeting here on Monday with members of trade and industry.

It is impossible for the units to pay both, GST and Income Tax before the due dates in July/August. Hence, the last date for payment of taxes should be extended. The late fees applicable on delayed filing of GSTR 1 should be waived off. The interest and penalty on GST due dates during April 2021 to July 2021 should be completely waived, said the Coimbatore District Small Industries Association in a memorandum submitted to the Minister.


Its president M.V. Ramesh Babu said the pending GST refunds should be released immediately and a centralised counter should be opened at the office of the joint commissioner of Sales Tax to receive all communications related to refund, grievances, etc., he said.


The Indian Chamber of Commerce and Industry, Coimbatore, has said the threshold limit for registration for those who deal exclusively in supply of Services or who deal in both Goods and Services should be increased to ₹ 40 lakh.


Further, there should not be interest on the amount credited in electronic cash ledger and it should be considered as tax paid because the amount is paid only in government account, said the Chamber president C. Balasubramanian.

The Federation of Coimbatore Industrial Associations said that engineering job work units were exempted from Value Added Tax. Now, the units pay 12 % GST. This has resulted in financial crisis for micro units. The units should come under the 5 % GST slab, it said. Every tax payer should be given an assigning circle / assessment officer. Even now there is no clarity for tax payers on which circle they belong to, it said.

The Coimbatore and Tirupur District Micro and Cottage Entrepreneurs Association said the condition that the receiver of goods cannot claim input tax credit if the seller does not file the monthly data. This should be set right, the Association said.



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