All India MSME Association (AIMA MSME), one of the representation body recognized by the MSME Ministry for the small and medium enterprises has appreciated the passage of GST Bill by Rajya Sabha on August 03, 2016.
“Not just the MSME, but across the industries, I am sure this will give a positive sign for companies which are doing inter-state transactions. This will also give a value addition benefitting the end customers providing a competitive pricing and level playing field for the companies”, Avinash K Dalal, President of AIMA MSME told SMEpost.
Even though, the GST Bill is for all the business units, it is the SMEs and MSMEs which are getting maximum mileage out of this. After years, India has achieved one of the biggest financial reforms post independence. Arun Jaitley’s ambitious GST turns a reality. With the implementation of the Goods and Service Tax in both the houses of the Parliament, the project has got mixed response from various walks of the life.
Mentioning about the importance of the bill, BJP President Amit Shah has quoted it is a boon for the MSME sector. “GST is the biggest tax reform since Independence and had been a long standing demand of the micro, small and medium enterprises (MSME) and Modi has made it a reality”, he tweeted.
The uniform goods and service tax is going to benefit MSME sector the most by way of cutting down bureaucracy and the existing layered tax structure, West Bengal Finance Minister Amit Mitra told. He said that SME feeds large industries and the most labour-intensive sector and therefore they should be given simpler passage for doing business. The single tax structure of GST would be ideal platform for them.
