As per Finance Minister Piyush Goyal’s statement after the 29th GST Council Meet, the GST Council, under the aegis of the Ministry of Finance, has constituted a Group of Minister (GoM) for Micro Small and Medium Industries.
Minister of State (MoS) Finance, Government of India, Shiv Pratap Shukla is the convener of the GoM. The members are Bihar Deputy Chief Minister Sushil Kumar Modi, Delhi Deputy Chief Minister Manish Kumar Sisodia, Assam Finance Minister Himanta Biswa Sarma, Kerala Finance Minister Dr TM Thomas Isaac, Punjab Finance Minister of Manpreet Singh Badal.
In its 29th meeting held in New Delhi on 4 August 2018, the Goods and Services Tax (GST) Council decide to form the Group of Ministers. Basing on the recommendations that the Law Committee, the Fitment Committee and the IT Committee receives from the MSME stakeholders before the 29 th GST Council Meet, the GoM will identify the measures to take to resolve the issues faced by the MSMEs.
The GoM will also explore other measures that would help create an environment favourable for the growth MSMEs. The GoM will also give estimates and project revenue impact of their recommendations wherever relevant.
TRU-II Joint Secretary Manish Kumar Sinha will assist the Group of Ministers in its work. The GoM has invited the finance ministers of other states to join the meeting on MSMEs.
The GoM for MSMEs is scheduled to submit its final report to the GST Council within two months.
