Page 13 - SME

CRISIL SME TRACKER: Testing times for small electrical equipment makers

It would be critical for MSMEs to raise their ability to compete efficiently in both domestic and export markets by adopting new technologies for improvement of quality and safety

Credit note must show tax rate and tax amount, says expert

As per Rule 53(i) of the CGST Rules, 2017, the rate of tax and the amount of tax must be shown in the credit note

CRISIL SME Tracker: Working capital gap widening for MSMEs

The working capital gap is a critical barometer of an enterprise's ability to meet its daily financing needs

After 11 months of inception, SEZ Rules yet not aligned with GST laws

The commerce ministry should now wake up and suitably amend the SEZ laws

Input tax credit must be reversed when finished goods are destroyed: Expert

Under the GST law, you do not need to inform or take permission from any authorities for destroying the finished goods

CRISIL SME Tracker: Working capital woes continue to hobble leather MSEs

Delays in Goods and Services Tax refunds aggravated the problem, resulting in estimated working capital days of 125 days in the last fiscal

Input tax credit not admissible for Krishi Kalyan Cess carried forward

Accumulated credit of KKC that appeared in the Service Tax return of June 30, 2017 will not be admissible input tax credit

Supplier to merchant exporter can claim refund of unutilised credit

The notification 3/2018-Central Tax dated January 3, 2018 is available in the CBEC website

CRISIL SME trackrer: Trailing B-schools have their task cut out

All this limits other B-schools from imparting quality education and achieving desired outcomes (lucrative placements), leading to low seat occupancy

If recipient fails to pay supplier in 180 days, he loses ITC and interest

However, interest is a loss that you cannot get back

If recipient fails to pay supplier in 180 days, he loses ITC and interest

So, you lose the credit if you don't pay within 180 days but can take the credit if you pay later

CRISIL SME Tracker: Small-city tag no drag for budget hotels

The average room rate (ARR) for the hotels analysed was Rs 2,500 per night for standard rooms, with marginal variance depending on the city

Claim settled by ECGC can be considered for incentives under FTP

A claim settled by ECGC can be considered for eligibility of incentives under FTP and drawback but not for service tax refund

CGST Act disallows input tax credit for nine entries, but exceptions exist

According to the CBEC, the benefits expected from the e-way bill mechanism are physical interface, faster movement of goods and improved turnaround time of trucks

CRISIL SME Tracker: For EPC players, affordable housing is a natural fit

This affords huge scope for developers - meeting the government's target of construction of 12 million units by 2022 requires construction of about three million units per year in urban areas

'Value of goods cleared from SEZ to DTA must follow Customs laws'

Exported goods can be re-imported and you can make payment against the re-import

TReDS coverage must be expanded beyond top-rated corporate buyers: Crisil

Now the MSMED Act, 2006 mandates that payments must be paid to MSEs within 45 days

Exporters claiming higher drawback must submit self-declaration

For all exports made with effect from July 1, 2017 for which higher rate of drawback is claimed, exporters have to submit the self-declaration in the format given in CBEC Circular no.32/2017-Cus dated

CRISIL SME TRACKER: Budget 2018's focus on MSMEs to spur job creation

The MSME sector employs over 111 million people and contributes nearly 31 per cent of India's GDP

For cancelling GST registration, pay ITC or output tax, whichever is more

In accordance with Section 17(5) (h) of the CGST Act, 2017, input tax credit shall not be available in respect of goods destroyed