The Coimbatore SIDCO Industrial Estate Manufacturers’ Welfare Association has appealed to the State Government to conduct MSME Facilitation Council meetings every month.
It also urged the Government to improve infrastructure facilities at all the industrial estates promoted by the Government. These are among the resolutions passed at the annual meeting of the association held here recently.
The Association appealed to the Union Government to reintroduce the Credit Linked Capital Subsidy Scheme and to ensure that manufacturing units in the MSME sector benefited from the MUDRA loans. The bankers mostly give the loans to Self Help Groups and traders, the association said.
It also urged the Union Government to abolish completely reverse charge mechanism under Goods and Services Tax (GST), enable MSMEs to pay GST every quarter, and simplify the GST refund process. The e-way bill within a State should not be compulsory for invoice values of less than ₹5 lakh.
Further, the Tamil Nadu Government has increased the Memorandum of Title Deeds charges for bank loans from ₹25,000 to ₹30,000. The association has been asking for reduction to ₹10,000. The State Government should reconsider the revision and make it ₹10,000, Mr. Surulivel, president of the association, said.
