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In an audacious move last year, in the 47th general meeting of the GST Council, both offline and online sellers were brought on an equal footing concerning the mandatory registration of GST. Before, online sellers needed to register for GST by selling through e-commerce. It was mandatory, regardless of their annual revenue. In the case […]
The Union government has been requested by the Federation of Coimbatore Industrial Associations (FOCIA) to create a distinct GST slab for the goods produced by micro, small, and medium-sized enterprises (MSMEs), as these businesses are unable to compete with large corporations. On Sunday, representatives from 20 MSME organizations gathered to address issues they were facing. […]
According to Arun Kumar Garodia, chairman of the Engineering Exports Promotion Council (EEPC) India, the government may look to increase cash in the hands of businesses, especially MSMEs, by way of tax exemption and lower rates in the upcoming Union Budget given the decline in India’s engineering exporters as a result of the slowdown in […]
There are more than 7.9 million MSMEs in India dated 27th March 2022, as per the Ministry of Micro, Small, and Medium Enterprises. Nearly 30% of the country’s manufacturing production comes from MSMEs. In the 2022 Statista report, there are nearly 110 million Indians who worked in MSMEs in the financial year 2016. As compared […]
Most of the contributors to India’s economy are the Micro, Small, and Medium Enterprises (MSME) sector along with Indian Startups being the prime contributors. All of these would sum up greater potential for the manufacturing, services, and export industries and provide employment in the country. As this becomes essential for these businesses to know the […]
The new provisions for the MSME sector are expected to cause a lot of trouble for micro, small & medium enterprises across the country, as they must become more compliant in terms of filing returns, or might have to pay penalties otherwise. This is also expected to affect the business of the MSME sector by […]
MSME stands for Micro, small and medium enterprises. Enterprises are classified into one category from Micro, Small & Medium Enterprises based on Investment & Annual Turnover Criteria. The government would not yet mandate the registration beneath MSME however it is effective for enterprises in various ways. Enterprise would obtain MSME registration via an online application […]
Easy Business to Execution for MSMEs The lesser digital penetration of MSMEs is due to the complex Good and Services Tax (GST) compliance requirements that are needed to perform the transition from offline to online selling platforms mentioned by MSME (Federation of Indian Micro and Small & Medium Enterprises (FISME). There are only 10% of […]
The budget for 2022 is just approaching and also people have some exceptions from the Hon’ble Finance Minister in GST. the subject is towards the relief for the MSMEs so that the compliance and the concerned cost reduces for MSMEs and they need to provide the simplicity of performing the businesses. The current 3rd wave […]
