Chennai: Consortium of Indian Association convenor K E Raghunathan has expressed worry over hunger strike by exporters over yarn price.
‘While I have no opposite opinion that input GST can not and should not be more than output tax on any product , the method and timing is worrisome,’ he said in a statement.
‘Everyone knows many MSME units are struggling to get back to normalcy after pandemic. Exporters have multiple issues such as container shortage, higher freight costs , lack of adequate RoDTEP schemes, delay in receipt of refunds of input taxes etc and this move kills the remaining units and enable them to die faster instead of saving them. Sad.,’ he said.
Raghunathan added: ‘Unfortunately, the Ministers are not recognising the gravity of the situation. Similar eruption of action is expected soon from Footwear and Paper Industries too. Government is seemingly adding oil to fire than water to stop it.’
The best action government could do, at this juncture is to lower the tax slabs of the input taxes than increasing the output taxes and or increase exemption limit for GST to Rs 5 crore a year to protect micro industries, he added.