Timely payment to MSMEs rule to be enforced from April 1
Mar 5, 2024 · “According to the Finance Act 2023, companies need to make payments to the MSME sector within 45 days, which is slated to come into effect from April 1, 2024, else the companies cannot claim deductions on it,” a senior finance ministry official told Moneycontrol.
World Bank Approves $500 Million Program to Strengthen …
The $500 million Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program is the World Bank’s second intervention in this sector, the first being the $750 million MSME Emergency Response Program, approved in July 2020 to address the immediate liquidity and credit needs of millions of viable MSMEs severely ...
45-day payment rule: New fund will work with banks to help MSME …
Jul 28, 2024 · Finance Minister Nirmala Sitharaman revealed that the government is establishing a new fund to help MSMEs facing financial issues due to delayed payments. Traders must now clear MSME bills within 45 days according to Section 43B (h) of the Income Tax Act.
MSME: What is an MSME? Read MSME latest news | the Economic Times
The MSME ministry, under Jitan Ram Manjhi, has focused on women empowerment, technology, employment, and regional development in the first 100 days of Modi 3.0. Key initiatives include increased credit guarantee for women entrepreneurs, the Yashasvini campaign, PMEGP support for new enterprises, and new technology centers in Bokaro and Leh.
45-day MSME payment rule comes into effect on April 1: What it …
Income Tax rule that bars businesses from claiming tax deductions for payments beyond 45 days to MSMEs for supply of goods and services will come into effect today (April 1). New MSME payment...
How MSMEs are driving India's $5 Trillion ascent in a shifting …
May 19, 2024 · MSMEs form the backbone of India’s economy, driving employment, export promotion, and GDP growth. However, accessing credit from traditional banks, burdened with rigid eligibility criteria and ...
Deregulation, balancing ties with China vital for growth of MSMEs, …
Jul 22, 2024 · Reducing the compliance burden on India’s MSME sector through subnational deregulation alongside balancing trade and security concerns with China is vital for the sector’s growth, the Economic Survey 2023-24 said.
MSMEs confident about India’s economy in 2024, project spike in …
Jan 12, 2024 · The second edition of the NeoInsights study – ‘MSME Business Confidence Study’ for the year 2024, highlighted that MSMEs in the wholesale/trading sector are leading the charge on economic optimism, with a resounding 95% expressing confidence in India's robust growth trajectory for 2024.
MSME budget 2024: Interim Budget 2024: MSMEs want ... - The Economic Times
Feb 1, 2024 · The MSME sector is a significant link in India’s journey to become a $5-trillion economy. Giving a focus to this sector, Finance Minister Nirmala Sitharaman unveiled measures that underscored the importance of ensuring adequate finances, as part of her Interim Budget speech in Parliament today. US Election 2024. US Election News Live Updates.
Supreme Court Rules MSME Promoters Can Now Submit …
Nov 4, 2024 · The court ruled that the date for assessing eligibility under Section 240A should be the date of submission of the resolution plan, allowing MSME promoters to participate actively in the insolvency resolution process even if the MSME certification was obtained after the CIRP commenced. By affirming this stance, the Supreme Court reinforces the ...