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Today Date : Sunday, July 21, 2024

Plea to reduce GST to 5 percent at Erode

Plea to reduce GST to 5 percent at Erode

Federation of All Industrial Trade Associations of Erode District (FATIA) appealed to the Centre to reduce GST from 12  to 5 percent on dry fruits, butter, ghee etc. 

The 10th Executive Committee Meeting of it felicitated the newly elected Erode MP KE Prakash. Fatia President Rajamanickam, secretary Ravichandran, Treasurer Muruganandam, Jibri and Sivaprakasam spoke. 

 The meeting said that there is no GST for the rice bags of more than 25 kg and 5 percent tax for less than 25 kg. The central government should remove the tax on rice and reduce the GST on dry fruits and ghee from 12% to 5%.

Income tax is 25 percent for corporate companies and 30 percent for MSME. Due to the disparity, the MSMEs are in crisis. Therefore, income tax for all companies should be changed to 25 percent.The tax rate for individuals should be 10 percent for above Rs.10 lakh, 20 percent above Rs.20 lakh and 25 percent above Rs.30 lakh income.