Insolvency and Bankruptcy Board of India (IBBI), SIPI – an independent think-tank on insolvency, INSOL India – the leadership body of insolvency stakeholders, FISME and Indian Industries Association (IIA) recently organised a roundtable of MSME representatives, professionals who assis…
Tag: Anil Bhardwaj
70% of India’s small, mid-sized firms yet to start GST preparations
About 70% of the country’s small and mid-sized firms are yet to begin preparations to get synced with the goods and services tax (GST) structure even as the country prepares to roll out the biggest indirect tax reform from July 1. Consulting major KPMG and the Federation of Small Medium Enterpris…
GST impact: How enforcing input tax credit can hurt the SME economy
Long before the Goods and Services Tax (GST) got Parliamentary approval last week, there were opportunities through draft laws for accountants, lawyers, tax-paying enterprises — even technology companies—to participate in its creation. “The government and administrative machinery are dialog…
Jobs will be safe in MSME sector, govt assures workers
Lucknow: Government sought to soothe concerns of layoff in micro, small and medium enterprises (MSMEs) that employ 80 million people against the backdrop of demonetisation, saying the decision might cause initial problems but will not impact job scenario in the sector. “There can be initial…
Currency Ban Impact | Unbanked villages, SMEs badly hit as currency crisis continues
The lopsided rural-urban spread of ATMs and bank branches has snuffed out economic activity in rural India, with micro, tiny and small enterprises finding it impossible to get cash in 100-rupee notes for their daily operations. Consider this statistic: every bank branch in a rural and semi-urban …
Nearly 75% govt banks miss MSME loan growth target
NEW DELHI: Despite the NDA governments push on improving credit to the micro, small and medium enterprises (MSMEs) in the country, only seven out of India’s 27 state-owned banks have achieved the loan growth target for the sector. The Finance Ministry had asked banks to register a 10% annual grow…
More tax sops for small businesses expansion
The budget proposal to offer tax exemptions for small businesses with turnover of up to Rs 2 crore, twice the previous limit, will encourage them to expand and do business fairly, said experts. When SMEs expand production, they fall off the tax exemption bracket which is a major deterrent for gro…