With majority of MSMEs in the region claiming to have borne the brunt of GST, Tamil Nadu Pumpset Manufacturers Association (TAPMA) on Saturday said business has, however, grown by 10 to 20 per cent.
Speaking to reporters here, TAPMA president Kalyanasundaram said taxes were 4 per cent less after GST implementation, as there was reduction of central sales tax for the materials purchased from outside the region. Besides, two per cent reduction in sales tax added to the growth of the business ranging from 10 to 20 per cent, he said adding that the GST council continues to reduce the tax burden as and when represented by the industries.
The association has 120 members and the only problem faced by the industries here was acute labour shortage, he said. Stating that some other associations may be giving wrong information with regard to their business, Kalyanasundaram said he has so far not gone through the data provided by the Tamil Nadu government that nearly 50,000 small industries were closed and five lakh workers rendered jobless.