MSME body wants FM to extend GST deadlines – The Economic Times

Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/msme-body-wants-fm-to-extend-gst-deadlines/articleshow/82728650.cmsSynopsis

Kassia president KB Arasappa also requested the Finance Minister to take steps to see refunds were released on priority. Karnataka has been under a lockdown until May 24, and manufacturing activities, except those in the essential sectors, have been at a standstill. The lockdown has choked production in industries and caused cash crunch, he said.

Small scale industries body Kassia on Monday urged Finance Minister Nirmala Sitharaman to extend deadlines for GST payments and filing of GST returns for March, April and May to June. The association wants the government not to levy any penalty or interest on such late payments in view of the on-going lockdown in Karnataka due to Covid-19.

Kassia president KB Arasappa also requested the Finance Minister to take steps to see refunds were released on priority. Karnataka has been under a lockdown until May 24, and manufacturing activities, except those in the essential sectors, have been at a standstill. The lockdown has choked production in industries and caused cash crunch, he said.

In the event of deaths of a supplier, the recipient is unable to get a refund in cases of inverted duty structure or exports, and this has hurt the small and medium industries, Kassia said.

Kassia also urged Karnataka home minister Basavaraj Bommai,who represents the state on the GST Council, to highlight the issues industries are facing at the Council meeting scheduled for May 29.

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