R. Kalyanasundaram, president of Tamilnadu Pumps and Spares Manufacturers’ Association (TAPMAA) claimed that the GST (Goods and Services Tax) has taken their business to another level and GST is a boon to the small-scale units.
On 13th April, in a press, Mr Kalyanasundaram told that the GST introduction has come like a ripen fruit to them and according to its 120 pump manufacturer members, there is a growth of 10 per cent to 15 per cent in the turnover. Talking against the opponents who say GST has caused job losses, the president of TAPMAA said that even now they are facing a shortage of labourers in their industries.
Mr Kalyanasundaram said “We are in this industry (manufacture of pumps) for over 30 years now and have seen several tax reforms. GST is very practical and brings down prices for industries”.
He said that the raw materials are purchased from the northern States by the Pump manufacturers of Coimbatore and then they sell it to the other States. “There is no C form, indirect taxes, or VAT”. He also added that as compared to the pre-GST situations, the post-GST situation is better as there is around 4 per cent of points advantage after GST.
Mr Kalyanasundaram said that he has requested to reduce GST on the job of the engineering field because there are few units that are not getting the payments on time. He said that the micro industry associations that claim that there is 28 per cent of GST taken on some of the raw material which is not correct because post-GST the industries has not been closed yet.
In a press release, the Coimbatore Wet Grinders and Accessories Manufacturers’ Association said that C.P. Radhakrishnan has given a helping hand to the wet grinders as he has cut down the GST to 5 per cent from 12 per cent which was impossible pre-GST. The president of the association Mr Saastha.M. Raja said that the industries have been in the profit as the filing of GST returns has become electronically.
