MSMEs Current Affairs - 2020

Pending Income Tax Refunds of Rs 62,361 crore paid to a total of 20,44,597 Taxpayers from 8th April to 30th June

Not only to health and freedom of movement, but the COVID-19 pandemic has also made a much larger financial impact on the economy for individuals and business entities (including MSMEs) across the world. Between 8th April to 30th June 2020 which had a total of 56 weekdays (Monday to Friday), the Income Tax Department of Read More…

‘At One Click’ Initiative launched by Gujarat Government for MSMEs & Other Bigger Industries

For 12,247 Micro, Small, and Medium Enterprises (MSMEs) and bigger industrial units (including the textile industry) in the state, the Gujarat Government on 26th June 2020 has launched an online cash aid initiative. The initiative is named as ‘At One Click’. The initiative was launched by the Chief Minister of Gujarat Vijay Rupani. About the Read More…

Scheme with Guarantee Cover worth Rs 20,000 Crore launched for MSMEs

This scheme was announced as a part of the AtmaNirbhar Bharat Package by Finance Minister back on 13th May 2020. On 24th June 2020, the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) was launched. The scheme is also called as Distressed Assets Fund- Sub- Ordinate Debt for MSMEs. Union Minister of Medium, Small and Marginal Read More…

9th BRICS Trade Ministers Meet held in Brazil

The 9th BRICS Trade Ministers Meet was held in Brasilia, Brazil. It was attended by Union Minister Commerce and Industry Piyush Goyal, during which he deliberated on global economic climate with his counterparts from other member nations. Key Deliberations at Meet The global economic outlook is facing grave challenges amidst growing protectionism and rising trade Read More…

Important decisions of the GST council meet

The GST Council meeting on January 10 has taken the following important decisions: The exemption limit for Goods and Services Tax (GST) registration has been increased to Rs 40 lakh from the current Rs 20 lakh to ease the cost of compliance for small taxpayers or micro, small and medium enterprises (MSMEs). This exemption limit Read More…