Company Law : Recent ROC orders confirm that failure to file MSME Form 1 is no longer treated as a minor lapse. Non-filing leads to adjudication...
Company Law : The case clarifies that MSME-1 filing is triggered when payments to MSME suppliers exceed the 45-day limit. It emphasizes that eve...
Company Law : Companies that settle all MSME dues within 45 days are not required to file MSME Form 1 under original provisions. The rule focuse...
Corporate Law : Businesses often face loan rejections due to poor credit profiles despite strong operations. The article explains how credit repai...
Corporate Law : NSIC registration allows eligible MSMEs to access government tenders without paying EMD and tender fees, strengthening procurement...
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...
Finance Minister Smt. Nirmala Sitharaman has proposed amendment for providing benefit to micro and small enterprises which might result into being a big task for Indian enterprises.
Amendment in Budget 2023 of Income Tax Act Section 43B aims to strengthen working capital for small businesses. Benefits & implications of changes in deductions for delayed payments.
Learn about MSME, the Micro, Small and Medium Enterprises, and its certification requirements and acceptance day in this blog post
ECLGS) was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic.
Tax Impact of Payment to Micro & Small Enterprise under Budget 2023. Learn more about the proposed amendment in Section 43B of Income Tax Act. Get insights into MSMED Act.
Amendment of Section 43B to boost MSME sector growth & timely payments. Govt. of India passed Budget 2023 to help MSMEs. Find out more.
Government has proposed to add a new clause to section 43B which will allow deductions of payment to MSME only if payment is made within timeline specified in MSMED Act.
Section 43B of Income Tax Act provides that deduction for certain sums specified in its clauses (a) to (g) is allowable only on actual payment. However, the Proviso to this section allows deduction on accrual basis if the specified sum is paid by due date of furnishing of the return of income.
In order to encourage timely payments to Micro and Small Enterprises under the MSME Development Act 2006 , a new addition to the list of disallowances is being made vide S- 43B(h) .
Section 43B is applicable only in relation to ‘Micro and Small Enterprises’ and Medium Enterprises have been kept out of effect of this
