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MSME Minister hopes khadi products to be GST free

As per the new GST norms, 5 to 12 percent GST had been imposed on different Khadi and Village Industries products.

Tags: MSME, Khadi products, GST, tax regime, KVIC, Kalraj Mishra, textile,

July 15, 2017  |  comments ( 0 )  | 

Union Minister for Micro, Small and Medium Enterprises, Kalraj Mishra has expressed hope that khadi products will be exempted from the GST which came into effect from July 1.

As per the new GST norms, 5 to 12 percent GST had been imposed on different Khadi and Village Industries products.

Addressing a meeting of khadi institutions, Mishra said that for the larger interest of weavers and spinners associated to khadi industry, the GST panel had started analysing the pros and cons of the new tax on various products.

He told PTI, "Even the Finance Minister had assured me to give a GST exemption for the financial development of otherwise economically backward lot of weavers and spinners."

Further, the minister stressed upon organising exhibitions at different Embassies and High Commissions to make khadi a global brand.

Expressing concern over decreasing numbers of artisans in the khadi sector, Minister of State for MSME Giriraj Singh said that all-round development of the sector would remain a mirage, without providing a sustainable economic growth to the artisans.

He said, "No one knows the reason that how the number of artisans came down from 11 lakh in 1950 to nearly 2 lakh at present."

Vinai Kumar Saxena said, Chairman, Khadi and Village Industries Commission (KVIC), saidm, "The time has come to work for the enhancement of their wages."

He said, "Lower wages with respect to other organisations, not only blow down the morale of our adroit workers, rather it also has stopped paving ways for the new generation of entrepreneurs in this particular segment."

On the non-profitable and dormant assets of Khadi institutions, he said a plan was being chalked out to make the optimum uses of those assets.

He said, "We need to either revamp or dispose off these assets to deposit our long-pending liabilities as loans from different institutions."

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