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On Feb 1, 2022, Finance Minister Nirmala Sitharaman would announce Union Budget 2022-23 MSMEs are urging the government to seek the recovery of the sector GST reduction, relaxation in compliance, discuss the problems of late payments and simplicity of the access to capital. It is to be urged by the central government to focus on […]
The simplicity of business operation for MSMEs In October month the electronic invoicing system (e-invoicing) completed its one-year journey. Towards the micro, small and medium enterprises (MSMEs) business faces the rise and fall through this journey. The framework is tough to work on for the newly arrived people. E-invoicing has been executed by the Indian […]
The latest hike in the GST upon the finished goods like apparel, textiles, and footwear shall have a fiscal impact on the Micro, Small, and Medium Enterprises (MSMEs) which are present at a larger scale. GST rate on fabrics rises to 12% from 5% and on any type of apparel held with any value is […]
Under the MSME act doing the late payment to the MSME vendors just affects the supply of the materials from the MSME vendors. This article consists of sections where it mentions the effects and consequences of doing the late payment Vendor under the MSME act. The article discusses the issues and their effects of the […]
The industry bodies look to start consultations within the government towards the Union Budget 2022-23, GST rationalization, and diminish the load of the laws, especially the topmost expectations of the MSMEs. The finance ministry asked for the recommendation on the taxation from the industry and trade bodies as a parent to the budget for 2022-23. […]
MSME Samadhaan Portal, filing an application under MSEFC with simplicity, a feature introduced from Ministry of MSME, Govt. of India. Section 16 of the MSMED Act, mentions that the liability for the interest payment of the buyer with the month period lies with the supplier if the issue is delayed or the non-payment. The late […]
The Simplicity of Furnishing Business for MSMEs Independent audit regulator National Financial Reporting Authority (NFRA) seeks views from the stakeholders and public on a wider note that if micro, small and medium enterprises (MSMEs), relying on some conditions and threshold must be privileged from the essential law audit beneath companies act 2013. Comments seek on […]
The various groups and stakeholders of The Micro Small and Medium-scale Enterprises (MSMEs) have requested the State Government to further request the Union Government to extend the deadline of payment of GST Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment […]
On Wednesday, After deliberations conducted by the ‘All India Council of Association’ of MSMEs on Wednesday on the problems that are being faced by industries in specific reference to the rapid escalation in the cost of steel and other inputs of construction, ‘Industry associations that are representing the MSME sector’ are expecting a positive response […]
