Corporate Law : Incorrect Udyam filings can result in denial of CGTMSE coverage, MSME Samadhaan claims, and government tender participation. The a...
Corporate Law : This guide explains all major MSME subsidy schemes running in Uttar Pradesh in 2026, including capital subsidies, interest benefit...
Finance : The revised MSME classification limits under Union Budget 2025-26 significantly widen access to government subsidy, guarantee, and...
Finance : An analysis of why MSMEs report profits on paper but face cash shortages, repayment pressure, weak liquidity, and operational fina...
Finance : A practical guide on common mistakes that lead to rejection of subsidy claims in India, covering planning, compliance, documentati...
Corporate Law : A new digital credit model for MSMEs leverages data from sources like GST and ITRs for faster loan approvals, reducing paperwork a...
Company Law : Indian government outlines measures against companies not paying MSME dues, including mandatory reporting, penalties, SAMADHAAN po...
Goods and Services Tax : Govt introduces GST reforms to simplify compliance for MSMEs, including higher turnover limits, quarterly returns, and digital pay...
Corporate Law : Union Budget 2025-26 enhances MSME investment and turnover limits, increases credit guarantees, introduces new schemes for women a...
Finance : The Government outlines criteria and steps to improve MSME loan access, including collateral requirements, schemes, and credit fac...
Income Tax : The ITAT held that reversal of MSMED Act interest cannot be taxed if the provision was never claimed as a deduction. The matter wa...
Custom Duty : Delhi High Court orders release of a startup's goods held by Customs, citing an inexplicable delay and directing a review of polic...
Corporate Law : Supreme Court held that Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises does require MSME to notif...
Corporate Law : Kerala HC holds that a retail plywood importer cannot claim delayed BIS compliance under QCO 2024, as MSME benefits are limited to...
Corporate Law : Supreme Court rules Limitation Act applies to MSMED arbitration but not conciliation, clarifying recovery of time-barred debts und...
Company Law : Repeated delays in filing MSME returns resulted in penalties reaching the statutory cap. The decision highlights strict enforcemen...
Company Law : MSME-1 filings delayed by over two years attracted the highest statutory penalties. The ruling signals strict enforcement where no...
DGFT : The government introduces 2.75% interest relief on pre- and post-shipment export credit, helping MSMEs access cheaper working capi...
Corporate Law : The Ministry of MSME mandates that all new delayed payment cases under the MSMED Act must be filed on the new MSME ODR Portal star...
Corporate Law : Companies must report delayed payments over 45 days to MSMEs in a half-yearly return to the Ministry of Corporate Affairs under MS...
Learn about the vendor assessment process on the GeM portal, its benefits for sellers, and the necessary documents required for assessment. Professional Utilities offers expert services for GeM vendor assessment.
Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 outlines provisions for Delayed Payment to Micro and Small Enterprises (MSEs) under sections 15 to 24. The Act mandates the establishment of Micro and Small Enterprise Facilitation Councils (MSEFCs) by state governments to mediate disputes relating to delayed payments (Sections 20 and 21).
Explore the pivotal role of MSMEs & Startups in driving India’s economic growth. Learn about their contribution, significance, government initiatives, and the impact of Budget 2023 on their development. Uncover the symbiotic relationship between the economy and these dynamic businesses, fostering job creation, innovation, and sustainable practices.
NCLAT Chennai held that as the Application for MSME certificate was made after the commencement of CIRP, such unauthorized Application cannot be considered and cannot tide over ineligibility under Section 29-A of the Insolvency and Bankruptcy Code, 2016.
RBI announced enhancements to Trade Receivables Discounting System (TReDS), aiming to alleviate liquidity constraints for MSMEs.
Explore the implications of the Finance Act 2023 amendment under Section 43B of the Income Tax Act, affecting deductions for payments to MSMEs. Learn the impact on tax planning and compliance.
Explore MSME compliances and implications under the Income Tax Act. Learn about the advantages of MSME registration, revised definitions, and compliance steps. Ensure timely payments to MSME units to avoid interest penalties. Stay informed about the latest changes in the MSME sector for a thriving business.
All companies that default or make delayed payments to their micro and small enterprise suppliers are obligated to file Form MSME-1. This form serves as an intimation to the Registrar of Companies regarding the payment default. However, medium enterprises are exempted from this requirement.
Who shall file Form MSME-1? All companies must file Form MSME-1 (Form) which has either defaulted in making payment or has made delayed payment to their micro and small vendors.
Finance Act, 2023 introduced significant amendments related to Micro, Small, and Medium Enterprises (MSMEs) in India. One of the key changes pertains to the payment compliance and deductions for MSMEs. Let’s explore the definition of MSMEs, the amendment to Section 43B of the Income Tax Act, and provide some author remarks on the matter.
