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Chennai March 1 The Union Budget has received a mixed reaction from the small and tiny industries sector.

The Tamil Nadu Small and Tiny Industries Association has welcomed the excise duty relief granted by the hike in exemption limit for the small scale sector, doubling of the service tax limit to Rs 8 lakh and the cut in Central Sales Tax (CST) rate.

It has expressed disappointment over the continuing fringe benefit tax, which the association feels, should have been abolished.

The Industrial Estate Manufacturers Association, Guindy, has welcomed the hike in excise tax exemption limit to Rs 1.5 crore from Rs 1 crore for SSI units and the doubling of service tax limit. But the association was unhappy that the small and tiny industries continued to be covered under FBT.

The Chennai District Small Scale Industries Association too, welcomed the hike in excise tax exemption limit, reduction in CST to 3 per cent from the prevailing 4 per cent and the hike in cash withdrawal tax threshold to Rs 50,000 from Rs 25,000 for individuals.

More Stories on : SSI | Budget | Tamil Nadu

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