Covid-19 impact: MSMEs require support to survive, says industry expert



Micro, Small and Medium Entreprises (MSME) players in the country have called for urgent measures by the government, such as extension of deadline for filing GST, among others, to help the industry survive.
K E Raghunanthan, past president of All-India Manufacturers Organisation and an MSME owner for the past 35 years, said that the sector had expected some steps to be announced in the Prime Minister's address yesterday. Pointing out that the corporate sector had received various tax benefits in recent times, he said the Ministry of Corporate Affairs (MCA) had even extended the deadline for them to hold board meetings. "MSME and traders are hand-to-mouth fellows, and there is no revival chance for us," Raghunanthan added.
"The last 10 days of the financial year are very crucial for any entrepreneur. Today is the last day for GST filing and we haven't got Form 2A uploaded by our suppliers. We have not been able to raise as many invoices as we should have. We were expecting the Prime Minister in his last week's address to offer some relief. At least all the EMIs should have been exempted for three months," he said. Read More

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