Chennai: Hailing the landmark tax reform Goods and Service Tax (GST), the State finance minister D. Jayakumar said its roll-out in Tamil Nadu has been successful and that the government has been striving to protect the interest of the industry, traders and other sections.
Speaking at the GST conclave at Madras University’s centenary auditorium here on Sunday evening, Jayakumar urged the Union finance minister Arun Jaitley, who was present on the occasion, to favourably consider the demands of the fireworks and textile industries.
“The fireworks industry may be exempted from GST. Similarly, the handloom and power loom weavers, who are among the lower strata of the society, should be totally exempted from GST for their products,” he said. The present rate of 28 per cent on the weavers is causing irreparable loss to them. The minister also sought nil GST on fishing nets.
Jayakumar who submitted a memorandum to Jaitley urged the Centre to provide funds for the Metro Rail phase II project, the Chennai - Kanyakumari Industrial Corridor project and also release Rs 17,074 crore for implementing the social security schemes.
“I hope the Centre will favourably consider Tamil Nadu’s plea to exempt the state from Neet,” he added.
The Union finance minister who had a word of praise for Jayakumar said the latter “diligently” represented the state at the GST Council meet and defended TN’s interests....