Finance : Discover the crucial role of MSMEs in India's economic development, from classification to registration and benefits. Learn how MS...
Company Law : Understand Form MSME-1 filing requirements and penalties under the MSMED Act. Learn about deadlines, required information, and com...
CA, CS, CMA : Discover the essential 2023-24 Audit Manual for SMEs. Stay updated with changes in CARO 2020, Schedule III, and more. Download edi...
Finance : Explore the recent amendment to Section 43B of the Income Tax Act aimed at bolstering the financial well-being of MSMEs through ti...
Income Tax : Learn about Section 43B(h) of the Income-tax Act, 1961, allowing deductions for MSME payments only on actual payment basis. Unders...
Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...
Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...
Corporate Law : This webinar titled “How MSMEs Recover Payment without Court” provides valuable insights and strategies for recovering...
Corporate Law : Introduction: On March 15, 2024, a significant milestone was achieved in the formalization journey of Micro, Small, and Medium Ent...
Corporate Law : Discover how the Udyam Assist Platform, launched by the Ministry of MSME, facilitates registration for Informal Micro Enterprises,...
Corporate Law : Supreme Court dismisses plea under Article 32 against 45-day payment rule. Detailed analysis of the judgment and implications for ...
Corporate Law : Explore Allahabad High Court's judgment on predeposit under Section 19 of MSMED Act in the case of Docket Care Systems Vs. Hariwil...
Corporate Law : Mankind Life Sciences Private Limited Vs State of Himachal Pradesh & Anr (Himachal Pradesh High Court) The legal landscape sur...
Corporate Law : The petitioner filed an application for stay of an arbitral award passed by the West Bengal State Micro Small Enterprises Facilita...
Income Tax : Delhi High Court held that in respect of Special Audit remuneration under section 142(2D) of the Income Tax Act invocation of prov...
Company Law : Read about the Specified Companies Order amendment under Companies Act 2013 to enhance reporting on payments to micro and small en...
Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...
Corporate Law : Discover the Air Cooler and Air Filters Quality Control Order 2023 by the Ministry of Commerce and Industry. Learn about standards...
Corporate Law : Explore the Ministry of Commerce and Industrys latest order on Potable Water Bottles (Quality Control) 2024 in New Delhi. Learn ab...
Corporate Law : Explore the latest Ministry of Commerce and Industry Order in New Delhi, setting quality standards for insulated flasks, bottles, ...
In the erstwhile Central Excise and Service Tax regime the benefit of claiming export exemption was also available down the line to MSME and small scale suppliers of goods and services who supply goods and/or services to the primary suppliers supplying to exporters and sez’s.
Disclosure requirement in compliance of AS 15 (Revised 2005) for SME and Non SME Companies in India In Indian context, Companies needs to comply with Accounting Standards notified under Section 133 of Companies Act 2013 to prepare the financial statements at the end each Financial Year. Ensuring the proper compliance and provisions of these Accounting […]
The Indian MSME sector is the second largest employer after agriculture sector for the country. Not just this, MSME sector can be accredited as the most important tool of ensuring equal distribution of wealth and resources resulting into de-risking of the economy. MSMEs work in sync with large industries as supporting units and thus, contribute […]
Many decisions have been taken by the GST Council in its various meeting for the betterment and befit of MSME Sector: Details of such major decisions are as below 1. Goods, which are manufactured majorly by the unorganized MSME Sector, have been kept at lower rates or are exempted. For example: Electrical switches and wires, […]
All about eForm MSME Form-I (Filling half yearly return with the registrar in respect of outstanding payments to MSME due date 31st October, 2019) Purpose to file the eForm All companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed 45 days […]
DELAYED PAYMENTS TO MICRO AND SMALL ENTERPRISES [Section – 15] 1. Where any supplier [Being MICRO OR SMALL ENTERPRISE], supplies any goods or any services to any buyer, – IF There is agreement in writing between supplier and buyer regarding payment Buyer shall make payment thereof on or before the date agreed between buyer and […]
Background: Hope all of you are doing great, this write up will be helpful for the small businesses that are searching to recover their outstanding from corporate and other entities. Government of India has taken number of measures for the promotion and development of MSME ie., Micro, Small and Medium Enterprises as it is being […]
Before we understand and deep diving, let us first know what provision actually say on the above two Acts and how the breach of doctrine of unrichment happening….. Sec 15 of Micro, Small and Medium Enterprises Development Act, 2006 states on the Liability of buyer to make payment.- “Where any supplier, supplies any goods or […]
Explore the effectiveness of the MSME Act 2006 in tackling the issue of delayed payments. Discover how it has impacted the cash flow of the MSME sector.
An Amendment Act was brought by the Government to meet reducing the undue delay in the cases of dishonor of cheques and to provide payment of interim compensation to the complainants. The MSME’s in particular have been representing that due to delay tactics, easy filing of appeals and obtaining stay on proceedings, the very purpose of section 138 of the NI Act was being frustrated.
