Times of India | Coimbatore industrial bodies allege 10% bribe demand for SGST penalty refunds, seek CM Vijay’s intervention
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Industrial associations in Coimbatore have accused officials of the commercial taxes department of demanding a 10 % “commission” from auditors as a bribe to clear long‑pending SGST penalty refunds for micro and small enterprises. The Federation of Coimbatore Industrial Associations (FOCIA) said that entrepreneurs who had already paid penalties are being asked to pay an additional 10 % to receive refunds that have been delayed for up to a year, with officials allegedly threatening further penalties for questioning the process. The associations have appealed to Chief Minister Joseph Vijay to intervene, ensure transparent processing of refunds, and halt the alleged extortionary practice.
#Coimbatore #FOCIA #SGST #industrialbodies #commercialtaxes #JJames #MKVijayakumar
Coimbatore industrial bodies allege SGST penalty refunds are delayed unless a 10% bribe is paid via auditors; urge Tamil Nadu CM to ensure transparent refunds.
Times of India | Tamil Nadu should offset Tasmac revenue loss through industrial growth: Speakers at Coimbatore Tax Summit
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Tamil Nadu should offset the fiscal shortfall caused by closing Tasmac liquor outlets by fast‑tracking industrial development and drawing large‑scale investment, said speakers at the inaugural session of the two‑day “IPO and Tax Summit 2026” in Coimbatore. Organized by the Bombay Chartered Accountants’ Society and the Auditors’ Association of Southern India, the summit gathered entrepreneurs, chartered accountants, tax experts and startup founders, who highlighted Coimbatore’s rise as one of India’s quickest‑growing entrepreneurial hubs with strong manufacturing, engineering, textile, healthcare, export, IT and startup sectors. They urged companies—especially MSMEs and family‑run businesses—to pursue structured growth, institutional funding, governance reforms and IPO opportunities, noting that awareness of FEMA, GST and other tax regulations is now essential. While welcoming the closure of Tasmac outlets, the speakers stressed that the ensuing revenue loss can be compensated through intensified industrial activity and a focus on strengthening the state’s industrial base rather than expanding welfare schemes.
#TamilNadu #Tasmac #BCAS #TAASI #ZubinBillimoria #SVenkatesh #Coimbatore #CharteredAccountants #AuditorsAssociation #
COIMBATORE: Tamil Nadu should compensate for the revenue loss from the closure of Tasmac liquor outlets by accelerating industrial development and attracting large investments, said speakers at the inaugural session of the two-day “IPO and Tax Summit 2026” here on Friday.
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