Tamil Nadu Food Products Traders Association & Madurai Traders Federation
The GST Council, formed jointly by the Central and State Governments, has decided to impose 18% GST under the Reverse Charge Mechanism (RCM) on rental payments for commercial properties starting 10th October 2024. This decision will have a severe impact on small traders, including manufacturers and businesses under the Compounding Scheme, with annual turnovers of up to ₹1.5 crore. Unfortunately, neither the Central nor the State Governments have opposed this resolution.
To address this issue and pressurize the governments to revoke this decision through the GST Council, it has been decided to observe a full-day closure of shops on Friday, 29th November 2024.
Dr. G.Thirumurugan, State President of the Tamil Nadu Appalam Vadagam Moruvathal Association, has urged all traders and the general public to extend their support and make this protest a success.