[vc_row][vc_column][vc_column_text]The Goods and Services Tax (GST) Council held its 29 th meeting in New Delhi last Saturday (4 August). Piyush Goyal, assuming charge as finance minister in place of the indisposed Arun Jaitley, chaired the meeting. He stated that the GST Council would form a committee to look into the
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Central Industry News
The Central News includes industry-news at the national level. This includes industry and finance policies put forth by the Government of India that would be applicable to all industries, including medium and small industries in Peenya. The Central News would be for the information and benefit of the industry members of the Peenya Industries Association.
The Central Industry News includes policies, statements, opinions by the finance and medium and small industries, and also chiefs of the industrial organisations at the national level, trends about industrial sectors from the point of view of their present situation. The Central Industry News also includes news articles about chiefs of trade and industrial associations sending their recommendations, opinion, memorandums, for the information of the members of the Peenya Industries Association.
Also, the Central Industry News would include news of a minister being allocated the small and medium industries portfolio, or formation of new government after the Lok Sabha elections.
GST Council May Offer Tax Reliefs to MSMEs
[vc_row][vc_column][vc_column_text]In its meeting scheduled on 4 August 2018, the Goods and Services Tax Council (GST Council) is likely to have a look at granting monetary relief to Micro, Small and Medium Enterprises (MSMEs) that register a turnover of ₹ 1.5 crore, according to some sources. This would be the 29 th
Organisations urge government to withdraw MSME bill
[vc_row][vc_column][vc_column_text]The government had recently put forth its intention to change the definition of the micro, small and medium enterprises (MSME), by introducing a bill that sought to change the definition of the MSMEs. The existing criterion is “investment in plant and machinery or equipment” and the proposed criterion is “annual
Lorry Strike Affects MSMEs Throughout India; Association Wants Government to Intervene
[vc_row][vc_column][vc_column_text]The lorry strike, which entered the seventh day, has affected the business in many states. The lorry operators have been demanding rationalisation of taxes on diesel and reduction in fuel prices in sync with the international market. All India Motor Transport Congress (AIMTC) had called for a nationwide lorry strike
GST Council to Consider MSME Taxpayers Issues
[vc_row][vc_column][vc_column_text]The Goods And Services Tax (GST) Council will focus on issues that Micro Small Medium Enterprises (MSME) taxpayers face, at its 29 th meeting to be held on 4 August 2018. The GST Council has asked the indirect tax department to make a list of grievances of MSME taxpayers and
India Near the Bottom in Dell’s List of Women Entrepreneur Friendly Cities
[vc_row][vc_column][vc_column_text]Based on its survey, American computer manufacturer Dell Technologies reported on 16 July 2018 that India’s technology hub Bengaluru and capital New Delhi are at the 40 th and 49 th place respectively, on a list of 50 women entrepreneur-friendly global cities. However, the report, “Women Entrepreneur (WE) Cities Index” had
MSMEs Can Leverage Benefits out of GST
[vc_row][vc_column][vc_column_text]India’s economy is worth over $2 trillion. The Micro, Small and Medium Enterprises (MSMEs) are the main pillars. The MSMEs in India number over 60 million and they assume much importance as India intends to increase the share of manufacturing in the country’s Gross Domestic Product (GDP) to 25 per
Industry Representatives meet standing committee
[vc_row][vc_column][vc_column_text]The representatives of industry associations in Bengaluru and Mysuru, led by the Confederation of Indian Industries (CII) met the members of the Parliamentary Standing Committee on Finance led by M Veerappa Moily. The representatives requested the committee to instruct the banks to increase the quantum of lending to the MSME
India and Korea Take First Step towards Boosting MSME Segment
[vc_row][vc_column][vc_column_text] India and Korea intend to boost bilateral cooperation in the Micro, Small and Medium Enterprises (MSME) segment. As the first step towards this objective, the National Small Industries Corporation (NSIC) and South Korean Small and Medium Business Corporation (SMC) inaugurated the India- Korea Technology Exchange Centre on 10 July 2018. South
Government Tells PSUs to Relax Artificial Entry Barriers for MSMEs and SC/ST Enterprises
[vc_row][vc_column][vc_column_text] The union government has told the central Public Sector Units (PSUs) and other government departments not to be rigid with the artificial entry barriers concerning prior experience and turnover terms in the tenders. According to a government official, the government seeks to boost the participation of MSMEs and companies SC/ST-owned