CODISSIA seeks IGST relief for tools used to make castings for exports

The Coimbatore District Small Industries Association (CODISSIA) has sought Integrated Goods and Services Tax (IGST) relief for moulds, dies, and patterns used by Micro, Small and Medium-scale Enterprises (MSMEs) to make castings for exports.

In a meeting with Sanjay Mangal, Special Secretary and Member (GST and Tax Policy), Central Board of Indirect Taxes and Customs in New Delhi recently, president of the CODISSIA V. Rangaswamy explained the GST-related challenges and compliance issues faced by the MSMEs. The Association sought provisions in IGST for exemption to MSMEs that buy moulds, dies and patterns for export products.

Mr. Rangaswamy and S. Soundararajan, secretary of COINTEC, held discussions with officials at the Union Ministry of MSMEs in New Delhi and raised issues related to ease of doing business too.

At a meeting with the Additional Secretary and Development Commissioner Rajneesh, they submitted a memorandum with suggestions on how ease of doing business can be improved for MSMEs. They also met the Joint Secretary of SMEs and spoke about how the MSME units in Coimbatore can take part in international exhibitions.

At a workshop on “Key EoDB Initiatives, FTA Opportunities and Obligations and Ongoing Reforms aimed at Simplifying andStreamlining Trade-related Processes and Procedures”, organised by the Department for Promotion of Industry and Internal Trade (DPIIT), there were discussions on the latest initiatives of the government to facilitate international trade, simplify trade-related procedures, and so on, a press release from the CODISSIA said.