GoM formed to address MSME issues

New Delhi : The Goods and Services Tax (GST) Council on Saturday formed a Group of Ministers (GoM) headed by Union Minister of State for Finance Shiv Pratap Shukla to deliberate on issues facing micro, small and medium enterprises (MSMEs) and submit its recommendations in the next meeting of Council.

Union Finance Minister Piyush Goyal, who presided over Saturday's GST Council meeting primarily to discuss difficulties faced by MSMEs across the country, said the GoM will take the discussion further and interact with the main stakeholders in different parts of the country before submitting its recommendations.

The Council also decided to refer all law and procedure-related issues to the Law Committee and issues related to GST rates to the Fitment Committee. Both committees would also file their recommendations in the next GST Council meeting.

All issues, other than law and tax-related ones, faced by the MSME sector will be looked into by the GoM.

According to Goyal, the GoM on MSMEs will comprise Delhi Deputy Chief Minister Manish Sisodia, Bihar Deputy Chief Minister Sushil Kumar Modi, Assam Finance Minister Himanta Biswa Sarma, Kerala Finance Minister Thomas Isaac and Punjab Finance Minister Manpreet Badal.