Msme benefits
S.RAMA (BOOK KEEPING & TAX CONSULTANT) (88 Points)
12 January 2021
whether MSME s are exempted from collecting and paying gst .
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 January 2021
No there is no such exemption
S.RAMA
(BOOK KEEPING & TAX CONSULTANT)
(88 Points)
Replied 13 January 2021
tnx for ur replies.
pls let know the benefits and concessions that r available for MSMEs. in gst and income tax is concerned.
Vijay Sharma
(175 Points)
Replied 15 January 2021
The benefits are as follows:-
1.Protection against delay in payment.
2.Fast resolution of disputes
3.Collateral Free loans from bank
4.Exclusive consideration for participating in international trade fair
5.Octroi benefits
6.Waiver of Stamp duty and Registration fees
7.Several Exemption under Direct Tax Laws
8.Barcode registration subsidy
9.Subsidy on NSIC Performance and Credit ratings
10.Counter Guarantee from GoI through CGSTI
11.Reduced rate of interest from banks
12.15% subsidy under CLCSS scheme for technology upgradation
13.Exemptions while applying for Government tenders
14.Concession in Electricity Bills
15.Reimbursement of payment made for obtaining ISO certification
16.1% exemption in interest on OD
17.Increasing eligible loan limit for optimal reasons, from the amount of Rs. 25 lakh to Rs. 50 lakh
18.Raising the extent of guarantee cover from 75 % to 80 %
19.Reservation of products for exclusive manufacturing by MSME/SSI
20.Easier registration and approvals to obtain Licenses
21.Eligible for IPS subsidy
22.Preference in allocation of Government tenders
23.Excise Exemption Scheme
24.Reduced rate of interest from banks
25.50% subsidy for patent registration
1.Protection against delay in payment.
2.Fast resolution of disputes
3.Collateral Free loans from bank
4.Exclusive consideration for participating in international trade fair
5.Octroi benefits
6.Waiver of Stamp duty and Registration fees
7.Several Exemption under Direct Tax Laws
8.Barcode registration subsidy
9.Subsidy on NSIC Performance and Credit ratings
10.Counter Guarantee from GoI through CGSTI
11.Reduced rate of interest from banks
12.15% subsidy under CLCSS scheme for technology upgradation
13.Exemptions while applying for Government tenders
14.Concession in Electricity Bills
15.Reimbursement of payment made for obtaining ISO certification
16.1% exemption in interest on OD
17.Increasing eligible loan limit for optimal reasons, from the amount of Rs. 25 lakh to Rs. 50 lakh
18.Raising the extent of guarantee cover from 75 % to 80 %
19.Reservation of products for exclusive manufacturing by MSME/SSI
20.Easier registration and approvals to obtain Licenses
21.Eligible for IPS subsidy
22.Preference in allocation of Government tenders
23.Excise Exemption Scheme
24.Reduced rate of interest from banks
25.50% subsidy for patent registration
girigattupalli
(ss)
(154 Points)
Replied 15 June 2021
respected sir
how to get electricity concession for a MSME REGISTERED HOSPITAL.
please discuss
Recent Topics
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
Related Threads
CAclubindia
