Industry urges TS govt to cut GST on plastics

Telangana and Andhra Plastics Manufacturers Association, TAAPMA, the 54 years old, leading trade association, established in 1969, representing 90% of Industry turnover of the Plastics Industry from the state of Telangana and Andhra Pradesh urged Telangana State Government to reduce GST on Plastics from the current 18% to 12%.

Anil Reddy Vennum, Vice President South of All India Plastics Manufacturers Association (AIPMA) addressing a curtain raiser event HIPLEX, the South and Central India’s biggest Plastics Expo, to be held at Hitex in August, the plastic industry veteran in the city urged Mr Jayesh Ranjan, Principal Secretary, Government of Telangana, in a function held at ITC Kakatiya in the on Monday night.

Anil Reddy maintained that the plastic industry is subjected to a lot of stress for many reasons. The 18% GST levied is a big blow to the industry. Our industry runs on very thin margins due to a highly competitive market. There are many micro, small and medium enterprises in this sector. The high rate of GST is a heavy blow, he said. The plastic industry serves daily needs like the packaging of food products, household articles, lunch, tiffin, and pencil boxes. Most plastic processors are MSME units. The reduction in GST to 12% helps small players, Anil Reddy said.