Stating that demonetisation of Rs. 500 and Rs. 1,000 currency will not impact industries, the Mysore Industries Association (MIA) welcomed the Centre’s move and described it as a bold step towards eradicating corruption and black money.
MIA secretary Suresh Kumar Jain, in a release, said the move had the full support of the industrial fraternity. MIA lauded the sudden announcement of withdrawal of notes giving no chance for manipulation. “There will be no adverse effect on industries as all are in tax net and have accountability,” the release said.
The industry online registration — Udyog Aadhaar — was linked with the Aadhaar and PAN cards and GST would add to the economic development of the nation in the background of demonetisation, Mr. Jain said.
MIA appealed to micro and small enterprises who do not have bank accounts and VAT registration to not depend on anti-social elements for conversion of their money but to go directly to banks with the Udyog Aadhaar card, open an account and transact safely.
