MSME Payments: Defer rule on MSME payments - Ludhiana: A delegation of the medium | Ludhiana News : vimarsana.com

MSME Payments: Defer rule on MSME payments - Ludhiana: A delegation of the medium | Ludhiana News

A delegation of the medium, small and micro enterprises (MSMEs) met union minister Som Parkash to oppose Section 43B of the Income Tax Act which makes it mandatory for buyers to release the payment within 45 days of purchase of goods. They urged the commerce and industry minister to either withdraw the new rule or include every assessee of income tax including manufacturer, trader and exporter under this section and extend the time period up to 90 days.

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