Real relief for the small guys

I take this opportunity to thank the FM for having recognized the contribution of the Small and Medium Enterprises (SME) (although the definition of SME and SSI varies across different government organizations).

By raising the Basic limit for Service Tax from Rs.4 Lakhs to Rs.8 Lakhs, he has effectively enabled those doing a business of upto Rs.70,000 per month to become more competitive and focus on growth rather than worry about the tax element.

Likewise, by raising the excise duty exemption limit for SSI from Rs.1 crore to Rs.1.5 crore, he has taken a big step.

In this context, the gesture of the TN State Government to set the VAT Exemption limit to Rs.5 lakhs / Rs.10 Lakhs (as the case may be) is yet another business-friendly gesture to record and appreciate.

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