Tag: msme
Government reduces turnover limit from Rs. 500 crores to Rs. 250 crores for applicability of Trade Receivables Discounting System platform Companies with turnover more than Rs. 250 crore to comply with Trade Receivables Discounting System platform. This will enable MSME to access credit from banks based on their …
Period of 45 days for reporting MSME over dues to be calculated from the date of of acceptance or deemed acceptance of goods or services – MCA MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 15th July, 2024 S.O. 2751(E).—In exercise of the powers conferred by section 405 of …
Existing Entrepreneurs Memorandum / Udyog Aadhaar Memorandum (UAM) of MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs. In June 2020, the Government of India had notified revised criteria for classification of Micro, Small and Medium Enterprises (MSMES). As per …
New definition of MSMEs – Existing EM & UAMs obtained till 30.06.2020 to be valid till 31.03.2022 RBI in August 2020 has notified new definition of Micro, Small and Medium Enterprises. Later, the Government clarified that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) …
Pre Packaged Insolvency Resolution Package for corporate debtor classified as MSME Pre Packaged Insolvency Resolution Package for corporate debtor classified as MSME. The Government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2021 w.e.f. 4th April 2021. to make amendments in the Insolvency and Bankruptcy Code, 2016 …
Definition of Micro Small and Medium Enterprises – Retail & Wholesale Trade added The Ministry of Micro , Small and Medium Enterprises (MSMEs) has decided to include Retail and wholesale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal. However, benefits to …
RBI revises threshold for exposure limits of borrowing in Resolution Framework-2 for MSMEs In August 2020 RBI, in view of the need to support the MSME entities on account of the fallout of Covid19 and in view of the Resolution Framework for COVID 19 – related Stress permitted …
RBI extends restructuring of MSMEs existing loans without downgrade in asset classification In August 2020, to support the MSME entities on account of Covid-19 pandemic RBI had permitted that existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification. In view …
Pre-packaged insolvency resolution process for micro small and medium enterprises- IBC (Amendment) Ordinance 2021 The President of India has Promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance 2021to amend the Insolvency and Bankruptcy Code, 2016. According to the Ordinance, due to the COVID-19 pandemic impact on businesses, financial …
CBIC introduces flagship Liberalised Authorised Economic Operator Package for MSMEs Recognising their critical contribution in supporting the economy especially during the present difficult times of COVID-19 pandemic, Central Board of Indirect Taxes & Customs (CBIC) has taken a new initiative to introduce its flagship “Liberalised MSME AEO Package” …