Latest news with #RajeshLund
The Hindu
2 days ago
- Business
- The Hindu
Coimbatore MSMEs hope for lower GST rates
Micro, Small and Medium-scale Enterprises (MSMEs) in Coimbatore hope the GST rate revision announced by Prime Minister Narendra Modi will bring down the duties applicable for them. The Indian Chamber of Commerce and Industry, Coimbatore, welcomed the recent announcement by the Prime Minister regarding GST reforms. The proposed measures, including reduced tax rates, automatic GST registration, and faster input credit refund process, are expected to benefit entrepreneurs, especially small and medium enterprises and traders, said the Chamber president Rajesh Lund in a press release. The Southern India Engineering Manufacturers Association president Mithun Ramdass said the earlier duty (VAT regime) for pumpsets was 11%. When GST was introduced, pumpsets had 12% duty. However, some of the large brands suffered inverted duty structure and hence the rate was revised to 18%. 'The ideal rate should be 12%. However, since the 12% slab will be removed, we do not foresee any changes in GST for pumpsets,' he said. According to J. James, president of the Tamil Nadu Association of Cottage and Tiny Enterprises, the job working micro and cottage industries pay 18% duty and face Rs. 50 a day as penalty if the duty is not paid by the 20th of every month. The system should be simplified and the job working units should get exemption, he said.
The Hindu
24-05-2025
- Business
- The Hindu
1,238 candidates get employment through job fair in Coimbatore
As many as 1,238 candidates got employment through a job fair organised by the Indian Chamber of Commerce and Industry, Coimbatore, on May 22 and 23. A press release from the Chamber president Rajesh Lund said the fair, held under the Naan Mudhalvan scheme of the Tamil Nadu government, saw participation of 76 companies from banking, manufacturing, Information Technology, and service sectors. As many as 2,258 students participated in the fair that was held in four sessions on the two days. Of the 1,238 who got placed, 216 received employment letters at the fair, the release said.
