Vendor development programmes have also been organised by field institutes across the country

Grievance cell for MSMEs to tackle procurement issues

BS Reporter

Since women form almost 50% of the population, this segment cannot be neglected if socio-economic challenges are to be addressed

Uttar Pradesh to promote women entrepreneurs

Business Standard

We submitted our application for rebate of excise duty paid on exports within the one-year time limit to our jurisdictional excise authorities. They returned our application as the correct authority is the Maritime Commissioner, but by the time we submitted the application to the correct authority, the one-year time limit had passed. They have rejected our claim on the grounds of limitation. Is there any way to get this refund?You may appeal against the rejection order on the basis of CCE, Ahmedabad vs AIA Engineering Pvt. Ltd.  [2009 (248) ELT 826 (Tri. Ahmd.)]. In that case, the Tribunal held that the original refund claim was filed within time before the wrong authority; as such, subsequent re-filing of the refund claim beyond the limitation period should not be held against the assessee. The department's appeal against the decision was dismissed by the Gujarat High Court [2011 (121) STR 367 (Guj.)], holding that since the original application for refund was filed within time, thoug

'Agent's commission can be remitted, or deducted from invoice value'

In a bid to boost skill development and entrepreneurship, especially among the unemployed, the Ministry of Micro, Small and Medium Enterprises (MSME) is planning to set up 500 innovation centres and 18 tools rooms at cluster level and university levels.In an interactive meet with all chambers and SMEs during the ninth mega industrial exhibition organised by Vadodara Chamber of Commerce & Industry (VCCI), Union minister of MSME, Government of India, Kalraj Mishra said that the ministry's focus will be on skill development among existing entrepreneurs and development of entrepreneurship among unemployed youth."The ministry's vision is to create as many entrepreneurs as possible. Under 'Make in India' campaign, we will aim for zero defect products through focus on technology and quality upgradation which is possible through skill development of existing entrepreneurs and creation of job givers instead of job seekers. For this we are setting up 500 incubation centres and 18 tools rooms

MSME ministry to set up 500 incubation centres

Plans to double SME contribution to 30% in next 3 years

DBS to focus on lower end of SME segment

CRISIL has studied the marketing cost structure of 175 micro, small, and medium enterprises (MSMEs) in 2013-14 (financial year April 1 to March 31). The study was conducted to understand the position of marketing costs within the overall expenses of service-sector enterprises, which are more dependent on marketing initiatives than manufacturing MSMEs owing to the challenge of dealing in variable and intangible offerings. Although marketing expenditure as a percentage of cost of sales varies with the nature and dynamics of the business, manufacturing MSMEs tend to have lower costs owing to their more established and less diversified customer base.CRISIL's study indicated that service-sector MSMEs dealing with retail and one-time clients incur higher marketing costs than those with corporate clients and a fixed customer base. Further, MSMEs in the education and healthcare sectors had higher marketing investments, at 10.44 per cent and 9.46 per cent respectively in 2013-14, owing to the n

Service-sector MSMEs with one-time retail clients incur high marketing costs

As many as 100 Chinese companies from the Zhejiang province of China will be visiting Ahmedabad on November 27 to explore trade and investment opportunities, according to Knowledge News & Network, a media platform for micro, small and medium enterprises."Their primary goal is to explore joint venture opportunities with Gujarat-based companies at the industrial park which will be set up under the MoU between the Indian and Chinese governments for Chinese companies in Gujarat," KNN quoted Jagat Shah, secretary-general, China India Trade and Investment Centre, as saying.The delegation represents sectors such as agriculture, automobile and auto components, banking and finance, chemicals, construction and building materials, electricals, environment, food and beverages, furniture, health care and cosmetics, industrial products, information technology, infrastructure and real estate, leather, logistics, machinery, manufacturing, pharmaceuticals, rubber products and textiles.

Chinese firms to explore opportunities in Gujarat

Organisations such as Sheroes.in bring together successful entrepreneurs and youngsters

Nurturing women entrepreneurs in the northern region

Stating that credit flow towards the MSME sector is inadequate, Union Minister Kalraj Mishra today said banks are reluctant while sanctioning loans to entrepreneurs belonging to the sector.
	"The flow of credit to the micro, small and medium enterprises (MSME) sector is not adequate. They (MSMEs) are facing huge difficulties while availing loans from banks.
	"Despite the provision of collateral free, banks don't sanction loans, causing distress to small entrepreneurs, ignoring RBI guidelines," Mishra said at an Assocham event here.
	Mishra told PTI that he has written to the Finance Ministry in this regard and is awaiting a response from them.
	"MSMEs Ministry is willing to take responsibility and we have urged various other state governments for Credit Guarantee Fund Trust and are collecting the funds to ensure that banks do not hackle entrepreneurs and instead take up the issue directly with the Ministry," Mishra said.
	The Ministry of MSME, Government of India and SIDBI set up the .

Banks reluctant to lend to MSME sector: Mishra

Press Trust of India

Search giant Google will in a few weeks launch a mobile application that will allow small and medium enterprises (SME) an online presence. This will allow SMEs to have an online presence first on mobile without a domain name or even a website. According to Suryanarayana Kondukulla, head of SMB sales, Google India, the app will permit SMEs to have an online presence within 15-20 minutes. "People come to Google to get information. With this app SMEs can get online presence, they will also find themselves on the Google Map. The entire process of getting online will be very simple," he added. Though Kondukulla did not say that with this app Google in a way will do away the use of having a website and a domain name, he did agree that the app will allow instant online address. "For a lot of Indians it is through mobile that they are using internet for the first time. Initially since the app is just for identifying a business in an area, we are not looking at an immediate conversion of this i

Google to enable mobile presence for SMEs via app

The Gujarat government would soon announce new policies for MSME sector as well as start-up businesses, state Finance Minister Saurabh Patel said here today.
	The announcement comes after the state recently declared its Electronics policy, IT policy and e-Governance policy.
	Replying to a question on government's strategy to boost MSME (Micro, Small and Medium Enterprises) in Gujarat, Patel said, "Just wait for sometime, Gujarat government will announce a new policy for MSME sector soon."
	Further, the minister added that government is also working on a separate policy for the development of start-up businesses.
	"We are also mulling over a new 'start-up policy' to encourage and support new innovations. We have invited suggestions from experts in this field to find out ways to help young entrepreneurs in the state," said Patel.
	Giving details about the industrial exhibition, to be organised by Vadodara Chamber of Commerce & Industry (VCCI) between November 27- December 1 in ...

New polices on MSME and start-ups soon in Guj: Saurabh Patel

Pumpkart.com founder K S Bhatia

Launched six months ago, Pumpkart gets about 1,000 orders per month

Unique concepts power start-ups' e-retail play

We bought certain goods on the high seas from an unrelated party, who had bought the goods from their parent company abroad and re-sold to us after loading five per cent on the price at which they had bought. Now, can this transaction between us and the high-seas seller be investigated for examining whether the relationship has influenced the price?CBEC had examined the valuation of goods sold on "high-seas-sales" basis and had issued Circular 32/2004-Customs dated May 11, 2004 [2004 (167) E.L.T. T37], stating that 'taking into account the Advisory Opinion 14.1 of the GATT Valuation Code, which stipulates that if the importer can demonstrate that the immediate sale under consideration took place with a view to export the goods to the country of importation, then such transaction would constitute an international transfer of goods. The later transaction which led to the import would be the relevant transaction for assessment and Rule 4 of Customs Valuation Rules, 1988' (which is now Rul

'Onus of proving high-seas sale is an international transfer is on importer'

The Centre is soon expected to issue a notification setting up a foundry development council to promote the Indian $20 billion foundry and formulate new policies."We are expecting the Centre to issue a notification for the foundry development council in the next one month's time," said Vikas Garg, president of the Institute of Indian Foundrymen, an apex body of the foundry sector comprising 5,000 companies that are mostly micro, small and medium enterprises (MSMEs).He said an assurance to this effect was given by Amitabh Kant, the secretary to the department of the industrial policy and promotion (DIPP).The new council will focus on resolving key issues being faced by the foundry sector. "We are facing sand reclamation problems. There is enormous shortage of silica sand due to the mining issue," said Garg on the sidelines of an expo organised by the Confederation of Indian Industry (CII). "This needs to be addressed," he said.

Centre may set up foundry development council

An online finance facilitation centre set up by the Confederation of Indian Industry (CII) in June to provide advisory and credit facilitation support to micro, small and medium enterprises (MSMEs) has helped the latter raise Rs 85 crore in the July-October period, according to CII sources.About 20 companies from the manufacturing, infrastructure, IT, energy, textile, agro-processing and e-commerce sectors have raised money during this period.CII expects to raise over Rs 400 crore by the end of the current fiscal year through the facilitation centre, which will operate as a one-stop shop, aggregating financing options from various major financial institutions.The centre will match SME financing demand with banks and financial institutions, and project large finance requirements across financial institutions. SME members across India can approach the centre for their credit requirements through an online interface, and the centre facilitates the documentation and preparation of bankable

CII finance portal raises Rs 85 crore for MSMEs

Fully 54% of the companies surveyed felt that the new government is likely to foster an environment that will boost growth in the country

SMEs expect improved business conditions: Survey

For a start-up entrepreneur, the key to success lies in a penchant for innovation, said Verma

Chandigarh-based SME innovates for success

Industry experts say good rating helps MSMEs in obtaining faster and concessional credit from banks

Punjab MSMEs averse to ratings

We are traders, not registered with Central Excise. We imported certain items on payment of four per cent Special Additional Duty (SAD) and re-sold the same on payment of VAT

'Unregistered dealers permitted to claim refund of Special Additional Duty'

The last two months have seen an acute shortage of polymers in the eastern region, affecting nearly 2,500 units there, as HPL has been closed since July

Polymer processors expect better margins

The credit flow of banks to medium scale industries in Odisha has dropped by whopping 23.5 per cent in 2013-14 even as it grew by 29.2 per cent for micro and small enterprises."If we take bank finance as an indicator of growth in this segment, the credit flow  to micro and  small enterprises in Odisha has registered an increase of 29.2 per cent from Rs 13,789  crore to Rs 17, 810 crore during 2013-14, against  an all India growth of 23.1  per cent. However, credit flow to medium scale industries registered a decline of 23.5 per cent to Rs 2616 crore with the opening of new accounts registering sharp decline of 66 per cent", said KM Trivedi, Chief General Manager, State Bank of India(SBI), Bhubaneswar circle. He was speaking at the 3rd edition of MSME Summit Cum Expo-2014 organised by Indian Chamber of Commerce (ICC).On the slow growth of MSME sector in Odisha, he said, unrealistic projection in the project reports, unrelated expansion and excess capacity creation have caused the premat

Credit to medium scale units drops by 23.5% in state

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