Tamil Nadu Industrial Investment Corporation (TIIC) is aiming to disburse loans to the tune of Rs 1,800 crore for entrepreneurs, micro, small and medium enterprises across the State, said a top official here on Monday. T. Kirubakaran, General Manager, TIIC (Projects), said that the State-run fina…
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EEPC India opens Tech Centre in B’luru to help MSME engineering exporters
EEPC India, the apex organisation of the country’s engineering exporters, on June 22 launched the ‘EEPC India Technology Centre’ in Bengaluru with an active support from the Ministry of Commerce and Industry, an initiative aimed at making Indian exports competitive in the world market …
With 9 days to GST rollout, Anti-Profiteering rules still a major concern for Telangana MSMEs
With less than 10 days left for the Goods and Services (GST) regime to come into effect, apprehensions about anti-profiteering and penalties have been worrying Micro, Small and Medium Enterprises (MSMEs) in the state. So far, 85 per cent of traders across the state have registered themselves unde…
Haryana govt’s power-tariff to soon boost MSMEs
To compete with the neighbouring state of Punjab, the Manohar Lal Khattar led Haryana government has decided to boost the micro, small and medium scale industries with concessions in power rates. The sector will soon get electricity at the rate of Rs 5 per unit, with a relief of Re 1 pe…
Mamata Banerjee appeals Dutch investors to invest in Bengal
West Bengal Chief Minister Mamata Banerjee on June 21, appealed to Dutch investors along with Italian and German industrialists to invest in the state. “Come to Bengal and ride the growth because the state has the sustainable development in every angle. The state has improved a lot after the 34 y…
The flip side of GST: Its impact on the informal economy
The markets are gung-ho about the shift to the goods and services tax (GST). One factor driving this optimism is the anticipated shift of business from small, unorganized firms in some sectors to organized ones. Since the latter are already in the formal economy, comply with regulations, are gene…
GST enforcement will be lenient during initial period: Commerce Secretary
To allay the fears of the exporting community, the Commerce Ministry on June 21 said that enforcement would not be harsh during the initial period of GST implementation from July 1. “Any transition will require some adjustment. Exporters will get an extended two months time for filing retur…
Govt to make companies pay if they fail to pass on GST benefits to consumers
The central government on June 20 notified anti-profiteering rules to ensure that businesses pass on the benefit of reduced indirect tax to customers once the proposed goods and services tax (GST) comes into force on 1 July. Failing to pass on the GST benefits could cost businesses their registra…
DIPP constitutes 6 groups for preparing new industrial policy
The commerce and industry Ministry has constituted six groups for preparing a framework for the country’s new industrial policy that includes taxation, MSME and innovation, among others. The Department of industrial Policy and Promotion (DIPP), under the commerce ministry, is working on thi…
GST risky for SME lenders due to near-term uncertainty: Ambit Capital
The implementation of goods and services tax (GST) and continued impact of demonetisation in some segments are likely to be high asset quality risks for small and medium enterprise (SME) lenders, said Ambit Capital Pvt. Ltd. According to the brokerage firm, many micro, small and medium enterprise…