MADURAI: Traders associations from various districts across Tamil Nadu have today extended their support and solidarity to the ‘shut down on November 29th’ call given by the Tamil Nadu Foodgrains Merchants Association from Madurai on an important issue they are objecting/protesting with regard to GST for rent of buildings meant for business or commercial establishments.
Opposing strongly the decision taken by GST Council at its meeting held on November 10th 2024 to levy 18 per cent GST through Reverse Charge Mechanism (RCM) method for the rent or lessee amount payable to the buildings meant for commercial and business purposes, the Tamil Nadu Foodgrains Merchants Association had given for a bandh call.
Responding to that call, several traders associations have announced that they decided to shut their shops, offices and production places for the whole day on November 29th 2024 (Friday) against the GST Council announcement and hence all shops will be closed on that day by the traders in Madurai and across various places in the State.
“GST at 18 per cent by RCM for rent of buildings meant for business or commerical purposes will severely affect the small traders. There are lot of demerits because of GST Council’s decision and hence we are urging the authorities to revoke that. Ultimately the common man gets affected because of this particular GST decision . Already our association’s bandh call got support from 37 places as of today and the support is growing for our demand,” the office-bearers of Tamil Nadu Foodgrains Merchants Association told reporters at a press conference in Madurai on November 26th 2024 and among those who spoke include association president Mr.S.V.S.S.Velshankar, secretary Mr.S.Sai Subramaniam, honorary advisor Mr.S.P.Jeyapragasam and others besides representatives of various other traders associations including of onions, appalams etc.
“Levying of GST for rent at 18 per cent is a heavy burden. There is no ITC also for this because we cannot claim….Every month, it becomes a burden for the traders for building rent…We are making an appeal to the GST Council to reconsider this issue. To highlight this serious matter that affects small traders, merchants and the business community at large, we have decided to shut all the shops on November 29th 2024,” Mr.S.P.Jeyapragasam and Mr.S.V.S.S.Vel Shankar told reporters at the press meet in Madurai today.
