Codissia urges modification of I-T and GST for small businesses
Coimbatore: Coimbatore District Small Industries Association (Codissia) has urged the Union govt for modifications in income tax and GST for small businesses.
Codissia submitted a memorandum to Union finance minister Nirmala Sitharaman on Monday, requesting petrol, diesel, and electricity to be brought under the GST.
The association wanted the finance minister to recommend the GST council to reduce the current GST slab to 5, 10, and 15%.
“In the prevailing business scenario, all industries in the manufacturing sector are facing a decrease in turnover by around 30%. To improve the economic activity, GST rate reduction of 5% is requested for all slabs,” said the memorandum sent by Codissia president M Karthikeyan.
