MSME

45-Days MSME Payment Rule for Income Tax Deduction

45-Day MSME Payment Rule

A new rule has been put in place to help small and medium-sized businesses in India get paid on time. From April 1, 2024, the government will allow buyers to claim income tax deductions for expenses only when they pay their suppliers, specifically the MSEs. This rule is a big deal for businesses in India, … Read more

69% MSME Most Frequently Use Digi Wallets, Mobile Payments

69% MSME Most Frequently Use Digi Wallets, Mobile Payments

The yearly study carried out on micro, small, and medium enterprises (MSMEs) revealed substantial advantages for those who embrace e-commerce platforms. MSME use digi wallet benefits a lot and let us understand the latest findings through this article.  Digital Wallets and E-commerce Integration: Boosting MSME Prosperity in India A recent study by The India Council … Read more

Government turns focus on skilling for small business

Government turns focus on skilling for small business

The Ministry of Skill Development and Entrepreneurship has shifted its attention towards improving the viability and boosting the productivity of small, informal businesses. This is being achieved through the encouragement of skills training for micro, small, and medium enterprises (MSMEs) and the provision of customized courses to address the specific needs for skilled labor in … Read more

MSME Relaxation & Benefits in Budget 2023

MSME Relaxation & Benefits in Budget 2023

MSMEs not only generate employment, but they also support big industrial houses and other entities. Thus, it’s rightly said that the MSMEs are the backbone of industrial development in the country. In emerging economies like India, the MSME sector can account for up to 40% of the GDP. So, the importance of MSMEs in economic … Read more

Foreign Investment in MSMEs sector

Foreign Investment in MSMEs sector

The Ministry of Micro, Small, and Medium Enterprises (MSME Registration) runs a number of initiatives and plans for the country’s MSME sector’s growth. The government has implemented an investor-friendly policy to encourage foreign direct investment (FDI), with the exception of a few strategically important sectors/activities, all of which are open to 100% FDI under the … Read more

DPIIT establishing Credit Guarantee Scheme for Startups (CGSS)

DPIIT establishing Credit Guarantee Scheme for Startups (CGSS)

The Credit Guarantee Scheme for Startups has been formally announced by the Department for the Promotion of Industry and Internal Trade (DPIIT) (CGSS). Let us understand all the latest updates related to the latest credit guarantee scheme for startups through this article. What is the purpose of the Credit Guarantee Scheme for Startups? The purpose … Read more

Initiatives taken to create a conducive business environment

Initiatives taken to create a conducive business environment

The activities under Ease of Doing Business and Reducing Compliance Burden, which are intended to create a favorable business environment, are being led by the Department for Promotion of Industry and Internal Trade (DPIIT).  These various initiatives are taken to boost the MSME Sector which are India’s major contributor to GDP growth and also provider … Read more

Seed funding for startups in india

Seed funding for startups in india

One of the biggest challenges that entrepreneurs face is gathering initial funding to initiate their business. Entrepreneurs hesitate and worry if they want to launch a business, and don’t have enough capital to invest in it. As a result, the Indian government has launched a beneficial scheme to boost the economy, employment and entrepreneurship in … Read more

Know about MSME sustainable certification scheme

Know about MSME sustainable certification scheme

MSMEs are among the most powerful forces driving economic growth, therefore it becomes necessary to improve their ecosystem. Therefore, the government of India has made a plan known as MSME Sustainable Certificate Scheme. This scheme offers several benefits to businesses having MSME Registration and also encourages them to grow more. Through this article, you will … Read more

Is factory license mandatory for msme sector in india

Is factory license mandatory for msme sector in india

In India,  different types of relaxation have been provided to a number of organizations. The same goes for MSME Sector in India. Prior to launching a business, factory owners are required to register their facilities with local authorities under the 1948 Factory Act. A Factory License is an official government document granting permission to conduct … Read more