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TMI BlogTRADERS REGISTRATION AS MSME’S – POSSIBLE SOON ??X X X X Extracts X X X X X X X X Extracts X X X X ..... TRADERS REGISTRATION AS MSME’S – POSSIBLE SOON ?? - By: - CSLalit Rajput - Corporate Laws / IBC / SEBI - Dated:- 9-6-2020 - - During a meeting of Shri Nitin Gadkari, Union Minister for MSME and Road Transport and Highways with the representatives of Council of Leather Export, FICCI- NBFC Program and IMC Chamber of Commerce and Industry on impact of COVID-19 on MSMEs, Some of the questions as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ked and the suggestions given included Major Points discussed : Including traders as MSMEs, Inclusion of Medium enterprises in the M/o MSME order dated 02.11.2018 related to timeline of 45 days for payment to MSMEs, List of questions asked and the suggestions given included: Suggestion 1 Including traders ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as MSMEs, Suggestion 2 Inclusion of Medium enterprises in the M/o MSME order dated 02.11.2018 related to timeline of 45 days for payment to MSMEs, Suggestion 3 incorporating digital KYCs in case of NBFCs, Suggestion 4 push required from RBI to change master KYC notification encour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aging use of contact list KYC Suggestion 5 including cotton spinning in the eligibility list of Interest Subvention Scheme, Suggestion 6 permission for cargo flight in Kanpur, Suggestion 7 reducing imports and utilizing domestic capacity, Suggestion 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... need of labour reforms to bring change in MSME sector, etc. Kindly note that: Shri Gadkari responded to the questions from representatives and requested for sending suggestions and assured all the help from the government: Author views: 1. As per above suggestions, Traders may be allowed to get registered as MSME under the MSMED Act, 2006 via udyog aadhaa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Registration . 2. This will help a big group of Traders to get benefits under MSME. 3. Soon Medium Enterprises will also get benefit of Protection against Payments (Delayed Payments). In any case, a payment due to a micro or small or Medium enterprise (only suggestion) cannot exceed 45 days from the day of acceptance or the day of deemed acceptance. And if paym ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent got delayed: Interest is to be paid at three times the bank rate notified by the RBI. Source of Information: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=1629405 - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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