CIA seeks GST exemption, fresh NPA norms for MSMEs in Budget 2022

The Consortium of Indian Associations (CIA) has sought in Budget 2022 that MSMEs with a turnover of up to ₹5 crore be exempted from GST for 12 months. CIA also recommended that non-performing assets (NPAs) be considered for MSMEs 120 days after missing an EMI and that raw material ration-cum-fair price shops be established to tackle inflating raw material costs.