Page 4 - SME

Alternate financing poised to capitalise on $570 bn SME credit opportunity

India is home to 64 million micro, small and medium enterprises (MSMEs), contributing 30 per cent of the nation's GDP

CHATROOM: Second beneficiary cannot transfer LC to another, says expert

Section 143 of the CGST Rules, 2017 allows sending any inputs or capital goods, without payment of tax, to a job-worker for job work and from there subsequently to another job-worker and likewise

CHATROOM: 'Customs should reveal method used to fix value of export goods'

Rule 1.1 of the FEDAI Rules, 2019 says that the normal working hours of ADs for foreign currency to Indian rupee transactions for clients is 9 a.m. to 5 p.m. on all days, except Saturdays, Sundays

MSME influencers forum launched to promote small- medium units growth

The collaborative programme which was inaugurated on Friday is promoted by financing platform Dealplexus and SMEStreet

CHATROOM: 'CBIC should tweak legal provisions for SEZ to DTA sales'

Firstly, it is not correct to say that the B/E is filed on the basis of the proforma invoice

CHATROOM: 'DGFT should resolve contrary provisions in FTP, HBP quickly'

DGFT Policy Circular no. 11(RE-01)/2001-02 dated 1.10.2001 had clarified that the annual average exports should be maintained till the export obligation is completed

Softer commodity prices to lift road units' margins: CRISIL SME Tracker

Liquidity conditions are also expected to improve, as measures under the Atmanirbhar Bharat scheme have been extended until March 2024, and payments by state authorities also become more punctual

Chatroom: 'Interest can be claimed on delayed payment of drawback'

You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962

'Interest demand in pre-import regularisation cases can be contested'

The CBIC Circular referred to above says that the bill of entry will be assessed again and then you have to make the IGST payment

Pace of credit to MSMEs moderates in April: Reserve Bank of India

The housing segment showed a steady growth at 14.3 per cent in April 2023 against 13.7 per cent, RBI said

Chatroom: Denial of ITC on inter-state transfer of duty-free goods unfair

'The testing requirement will apply for exports to all countries, without exception'

Govt shouldn't roll out PLI for shoes, handicrafts, says think tank boss

These items are mostly made by small firms while scheme focuses on scale production; Small firms don't need PLI--they need access to tech and low-cost finance through separate schemes

Crisil SME tracker: Inflation to hurt MSME growth in electronics sector

But growth will still be healthy as discounts and lower retail prices will cushion the fall

CHATROOM: Exports on CIF terms attract IGST on CIF value, says expert

The Commerce Ministry introduced Para 2.43 on "merchanting trade" in the recently released Foreign Trade Policy 2023

Crisil SME Tracker: Lean inventory will shore up chemicals units' profits

Revenue growth for some specialty chemicals sub-segments is expected to moderate, in line with the correction in feedstock prices

Disposal of delayed payment cases by micro, small industries at 5-year low

The government in the Budget announced that buyers would be allowed to claim a tax deduction for payments made to MSMEs only after they make a payment to them

Chatroom: EO fulfilment can start from date of issue of EPCG authorisation

'You can export goods capable of being manufactured by the use of capital goods imported under the EPCG scheme'

Chatroom: Replacement part can be imported under EPCG scheme for spares

There is no stipulation that a free replacement must come only after re-export of the wrong shipment

Domestic demand to drive textile sector growth in FY24: CRISIL SME Tracker

In FY24, cotton yarn prices are projected to fall almost 15 per cent due to a high base and subdued export demand. This is expected to hurt price realisation

Chatroom: 'No GST rebate or exemption against supply of services to EOUs'

Section 16 of the CGST Act, 2017 allows you to take input tax credit of the input tax charged on any supply of goods or services, or both, subject to certain conditions