Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

'Budget 2019 gives importance to providing liquidity for small and medium enterprises'.


Date: 11-07-2019
Subject: 'Budget 2019 gives importance to providing liquidity for small and medium enterprises'
The 2019 Budget has not shied away from focusing on the MSME sector. The Finance Minister’s speech has paid due emphasis to legitimate profit-earning businesses and acknowledged the role of the sector as India’s job-creators.

The MSME sector is a big driver of India’s manufacturing sector and plays a pivotal role in generating employment opportunities.

At the foremost, this Budget gives prime importance to providing liquidity for small and medium enterprises:

A sum of Rs 350 crore has been allocated for FY 2019-20 to enable a 2 percent interest subvention scheme for all GST registered MSMEs.

The additional capital infusion of Rs 70,000 crore into public sector banks is expected to facilitate the flow of credit to businesses.

Interestingly, the government has also proposed a payment portal to facilitate the effective and timely payments of its suppliers and contractors and improve their working capital cycle.

In addition to immediate liquidity concerns, the government has acknowledged the often ignored social security gaps for a certain section of entrepreneurs. Towards this, a pension scheme has been introduced to cater to retail traders and small shopkeepers whose annual turnover is less than Rs 1.5 crore, which would benefit more than 3 crore small shopkeepers and traders.

From a tax perspective, the direct tax measures introduced primarily cater to specific recognised start-ups. While these are not material for the sector at large, the budget addresses several teething compliance and litigation concerns:

The key impact areas within the tax arena are the promises that have been made on the compliance side of the tax practice. These measures range from a pre-filled income tax return to a simplified single monthly GST return.

Moreover, it shall now suffice for taxpayer having an annual turnover of less than Rs 5 crore to file quarterly GST returns. With this backdrop, the revamp proposed in the electronic invoice system will significantly help reduce compliance burden for businesses and do away with e-way bills.

It is also expected that the Legacy Dispute Resolution Scheme would help SMSEs to put an end to outstanding litigations pertaining to service tax and VAT.

The Budget also provided the much needed clarity that start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums

Conditions for carry forward and the set-off of losses in the case of start-ups have been relaxed

On the whole, while this budget is not the Holy Grail for the MSME sector, it has taken two steps forward after having stepped back in the recent past.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2020
Notification No. 42/2020 -Customs (ADD)
Seeks to amend notification No. 21/2016-Customs (ADD) dated 31st May, 2016 to extend the levy of Anti-Dumping duty on Methylene chloride originating in or exported from China PR, up to and inclusive of 31st Jan, 2021.

Date: 01-12-2020
Notification No. 90/2020 – Central Tax
Seeks to make amendment to Notification no. 12/2017- Central Tax dated 28.06.2017.

Date: 29-11-2020
Notification No. 89/2020 – Central Tax
Seeks to waive penalty payable for noncompliance of the provisions of notification No.14/2020 – Central Tax, dated the 21st March, 2020.

Date: 27-11-2020
Notification No. 109/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 27-11-2020
Circular No. 52/2020-Customs
Exports of Gems and Jewellery through Courier mode - reg.

Date: 27-11-2020
Notification No. 40/2020-Customs (ADD)
Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR

Date: 27-11-2020
Notification No. 41/2020 -Customs (ADD)
Seeks to further amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles” originating in or exported from China PR, for a period upto and inclusive of the January 31, 2021

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Date: 26-11-2020
Notification No. 39/2020-Customs (ADD)
Seeks to amend notification No. 51/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of "Fully Drawn or Fully Oriented Yarn/Spin Drawn Yarn/Flat Yarn of Polyester " originating in or exported from China PR & Thailand , for a further period upto and inclusive of 31st December, 2020

Date: 26-11-2020
Public Notice No. 30/2015-20
Revision of SION A1827 of Export Products - Ossein



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001