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The government’s commitment to MSMEs is outlined in the Union Budget 2026 through various announcements aimed at improving liquidity, facilitating compliance, and strengthening the formal business environment. The important thing specified under the Finance Minister’s Budget speech is the need to reduce operational hassles for Micro, Small, and Medium Enterprises (MSMEs), particularly concerning taxation, credit […]
Indian engineering exporters are urging the government to consider a reduction in income tax rates for non-corporate manufacturing MSMEs to 25%. Additionally, they are requesting the expedited release of most pending goods and services tax refunds. These measures are seen as vital for alleviating cash flow pressures and enhancing export competitiveness in the upcoming Union […]
Rajya Sabha MP Sasmit Patra, ahead of the Union Budget 2026–27, stated that further simplification of the Goods and Services Tax (GST), along with tax measures to strengthen the ease of doing business, enhance liquidity for small enterprises, and support sustained economic growth, is needed for entities operating across states and e-commerce platforms. Patra, speaking […]
In the 2026-27 Union Budget, the Federation of Associations of Cottage and Small Industries (FACSI) insisted that the government provide support in the form of tax breaks, easier access to loans, and simpler regulations for small businesses. They believe these changes will help these businesses grow and play a stronger role in the overall economy. […]
The Government has ensured that 39,446 MSMEs discontinued operations and shut shop in the Financial Year 2024-25, with the Union Government attributing the deregistrations to multiple business-pertinent factors instead of a single trigger. The information was disclosed after a direct question raised in the Lok Sabha by Abhishek Banerjee, asking details on whether more than […]
Prime Minister Narendra Modi recently discussed a new Goods and Services Tax (GST) system in his Independence Day speech, highlighting that this new approach will focus on benefiting everyday consumers, especially those who are less fortunate, small businesses, the middle class, and farmers. As per sources, the new two-tier GST structure of 18% and 5% […]
EEPC India with the successful start of the faceless assessment via the income tax department has asked the government to start a faceless GST audit concentrating on empowering the MSME sector. Through the use of technology and obscurity, the faceless GST audit system will lessen the costs of compliance. A faceless system shall ease the […]
During a pre-budget discussion with Finance Minister Nirmala Sitharaman on December 26, the apex body of the Engineering Exports Promotion Council, EEPC India, suggested the introduction of a 25% conditional income tax rate for MSME manufacturing units operating as partnerships, LLPs, or sole proprietorships. This proposed tax slab can apply with the condition that businesses […]
Micro, Small, and Medium Enterprise (MSME) stakeholders have asked the government to execute the GST reductions, technology upgrades, and extend Production-Linked Incentive (PLI) advantages before distinct sectors in the pre-budget meeting with Finance Minister Nirmala Sitharaman. The motive of the interaction to collect the inputs for the Union Budget 2025-26 is scheduled for the presentation […]
