Finance Minister Piyush Goyal, who chaired the 29th Goods and Services Tax (GST) council meeting, announced that a committee has been set up to look after the issues of Micro, Small and Medium Enterprises (MSMEs).
Delhi Minister Manish Sisodia, Punjab and Kerala Finance Minister will be a part of this committee. Most of the states were in the favour of giving reliefs to MSME sector which provides a large number of employment.
Keeping the sentiments of the member states, the GST Council decided that the Fitment Committee of the Council will look into the rates of the items related to MSME sectors whereas Law Committee of the Council will look into the measures to make the system easy for at attractive for MSMEs.
On the basis of these Committees report GoM will discuss the measures and will give its recommendations to GST Council based on which a final decision will be taken.