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MSMED Act

Reversal of Interest u/s 23 of MSMED Act Cannot Attract Addition In Absence of Deduction Claim: ITAT Directs AO to Verify [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the reversal of interest provided under Section 23 of the Micro, Small and...

Unpaid MSME Dues Need Not Be Separately Disclosed Pre-2021: ICAI holds CA Not Guilty of Misconduct...

MSME Payment Reporting Overhaul for ITR Filing: Must-Know Updates in Form 3CD Audit Report

Limitation Act does not apply on Conciliation proceedings: Supreme court allows conciliation u/s...

Limitation Applies in Proceedings Under Interest on Delayed Payments to Small Scale & Ancillary...

CBDT Updates Form 3CD: New Disclosure Rules for MSME Payments, Share Buybacks, and Loans [Read Notification]

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 23/2025 dated 28th March 2025, announcing the Income-tax (Eighth Amendment) Rules, 2025. The...

Analysis of MSME under New GST Return Filling System

The Micro, Small and Medium Enterprises Development Act (MSMED), 2006 was enacted to facilitate the promotion and development and enhance the competitiveness of micro, small and medium enterprises...

SME Timely Payments Alert: Make Payments by March 31, 2024 to ensure Section 43B(h) Compliance

This article discusses the amendment to the Income Tax Act that impacts how certain deductions are calculated for payments made to micro and small enterprises ( MSMEs ) and its impact on the payments...

Timely Payments to MSMEs: Decoding Section 43B(h) of Income Tax Act

The amendment to Section 43B of the Income Tax Act, 1961, through the Finance Act of 2023, brings forth crucial changes with the addition of clause (h). This amendment aims to streamline payments to...

Budget 2023 Recap: Promises and Progress

Any process of governance is complete only after planning, preparation, execution and most importantly, review. The Budget 2024 is approaching and it is the perfect time to review the outcome of the...

Budget 2023 Recapc- Recapc- Budget - Promises and Progressc- Promise - Progress - taxscan

Arbitration Agreement Versus Arbitration Under MSMED ACT

Introduction Micro Small and Medium Enterprises has been the key focus area for the Indian Government and day in day out many reforms are being explored to bring benefits and privileges to such...

Central Govt notifies QCO for Helmet for Police Force, Civil Defence and Personal Protection [Read Notification]

The Department for Promotion of Industry and Internal Trade (DPIIT) vide Order no. S.O. 4649(E) issued on 25th October 2023 has notified the mandatory requirement of standard marks in Helmet for...