“As a manufacturing SME, our foremost expectation from the Budget is a fundamental correction in how GST is imposed. Today, manufacturers are forced to act as financiers to the tax system—paying GST upfront after investing capital in raw materials, production, and compliance, while payment from buyers is realised months later. This structure severely strains working capital and penalises those who actually create goods and jobs. GST must move to a buyer-paid or cash-realisation basis for SMEs. If the intent is to strengthen manufacturing, liquidity cannot be drained at the factory gate. Relief here would immediately unlock growth, improve compliance, and reduce dependence on debt.”
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