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…
Tag: SME
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…
Make in India programme for SMEs in pharma sector a mirage: Anjan K Roy
Union government’s Make in India programme is just a mirage for the small and medium pharma companies because drug manufacturing is capital intensive activity. Instead the sector is grappling with rigid price controls and ban on fixed dose combination (FDC) issues, said Anjan K Roy, founder, RL F…
18% GST on MMF to hit the powerloom sector
Powerloom units will take a hit if the GST on man-made fabric (MMF) is kept at the proposed 18%, industry officials said. Powerloom accounts for more than 86% of the total MMF production in India while the rest comes from other segments like handlooms, hosiery and mills. Incidentally, the GST on …
How start-up CoinTribe is helping SMEs get loans quickly
Having spent most of their professional life in the banking and financial sector, Amit Sachdev, Rohit Lohia and Manish Chaudhari finally decided to start their own financial services company. The three had had a particularly close look at SME lending. “As consultants, we were exposed to the banki…
BSE SME platform receives 214 draft prospectus
BSE’s Small and Medium Enterprise (SME) platform seems to be generating significant interest from investors with as many as 214 firms filing draft papers to raise funds through IPOs since the launch of the segment, nearly five years ago. Out of 214 companies, 183 of them are already listed …
View Point: ‘SME sector should get 6 months to ingest complexities of GST’
In its bid to get the maximum number of firms and individuals under the tax bracket, the Union government is boldly going ahead with the implementation of the game-changing reform of Goods and Services Tax (GST). This sort of tax disruption, virtually unprecedented in the country, might boost the…
Essel Group Chairman Subhash Chandra voices SME concerns over GST
Adding heft to the rising concerns regarding the initial impact of the Goods and Services Tax (GST), especially in the SME (Small and Medium Enterprises) sector, Rajya Sabha MP and Essel Group Chairman Subhash Chandra on June 17 requested the government not to take any action for non-complia…
RBI working on co-origination model for MSMEs
The Reserve Bank of India is working towards a formal co-origination model to give a boost to the flow of credit to the Micro, Small and Medium Enterprises (MSME) sector, SS Mundra, Deputy Governor, said. A Co-Origination model is not about a bank financing a micro-finance institution (MFI) or no…
NSDL e-Governance & Thomson Reuters ink pact to offer joint solution for GST
Thomson Reuters and NSDL e-Governance have joined hands to offer an integrated Goods and Service Tax (GST) proposition for large and mid-sized corporations in India. Based on a Memorandum of Understanding (MoU) signed on June 15, the solution will enable seamless calculation and filing of returns…