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Representative image | Photo Credit: Reuters The GST rate for labour charges (job work) has been increased from 12% to 18% and it is expected to hit hard the Micro, Small, and Medium-scale Enterprises (MSMEs). C. Sivakumar, president of the Coimbatore Tiruppur district Micro and Cottage Entrepreneurs Association, said one of the long-pending demands of…
Two major sectors that have a dominant presence of Micro, Small and Medium-scale Enterprises (MSMEs) and are expected to gain immensely from the India-U.K. Free Trade Agreement are textiles and engineering. Elimination of tariffs on textiles and garments from the earlier average level of 12% will remove the duty disadvantage that the Indian exporters faced…
Union Minister of Finance Nirmala Sitharaman addressing the media on the Union Budget 2025-2026 in Visakhapatnam on Thursday. Minister of State for Finance Pankaj Chaudhary is seen. | Photo Credit: V. RAJU Union Minister of Finance and Corporate Affairs Nirmala Sitharaman has said “we will have to wait for the outcome of the negotiations by…
The industry bodies in Karnataka have welcomed the Union Budget presented on Saturday and particularly lauded its focus on small industries. The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) commended the Budget for its “pragmatic and forward-looking approach towards industry, trade, and MSMEs.” M.G. Balakrishna, FKCCI president, said that the budget provides a…
