Memorandum Getting Ready on GST Rates to Save MSME Sect: CPI MP
MP-elect K Subbarayan claimed that more than 50,000 MSME industries were shut down in the last two years due to the higher GST rates in India.
Representative image. (Reuters)
Coimbatore: The Communist Party of India(CPI) is in the process of preparing a memorandum on the GST requirements for the MSME sector, which is feeling the pinch of higher tax rates, the party MP-elect K Subbarayan said on Saturday.
The Micro, Small and Medium Enterprises (MSME) sector was seriously affected due to the higher GST rates in India, particularly Tamil Nadu, where more than 50,000 industries were closed in the last two years, Subbarayan claimed.
The CPI leader had won from the nearby Tirupur Constituency, a hub for MSME and Knitwear industries.
Subbbarayan asked whether the Centre was ready to come out with a 'whitepaper' on the status of MSME in the country after introduction of GST, since there were reports that more than six lakh industries were shut.
The memorandum will be submitted to the government by all the MPs elected from Tamil Nadu, he added.
Subbarayan, who is also the Deputy Secretary of the Party in Tamil Nadu, reiterated the CPI's stance on exempting the State from the National Eligibility-cum-Entrance Test (NEET).
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- ISL 2019-20: Bengaluru FC Begin Title Defence Against NorthEast United at Home
- Bigg Boss 13 Day 20 Written Update: Rashami Desai, Mahira Sharma and Asim Riaz Declared Safe
- Reliance Jio Diwali Offer: Here's How to Gift a JioPhone This Festive Season For Rs 699
- Trailers This Week: Robert Downey Jr, Tom Holland Reunite for Dolittle, Anurag Kashyap Unveils India’s First Spaceship Sci-fi
- Google Pixel 4 Face Unlock is so Unsecure, You May as Well Not Bother Using it