NEW DELHI: Tax authorities have identified B2C sales as a key source of leakage of goods and services tax (GST) as consumers are often cajoled into paying in cash without taking a bill and are looking to incentivise digital payments to plug revenue leakages.
Ministry of micro, small and medium enterprises (MSME) has incurred expenditure of Rs 81 crore out of Rs 274 crore budget earmarked under four schemes — Procurement and Marketing Support scheme, Marketing Assistance Scheme, Coir Vikas Yojana, and International Cooperation Scheme between FY17 and FY19 and till October 2019 (for FY20) to boost marketing competitiveness of small businesses, according to the data shared by the MSME Minister Nitin Gadkari in Rajya Sabha on Monday.
A meeting of exporters was organized by Textile Development Foundation (TDF) Solapur on 21st November 2019 under the aegis of Home Textile Exporters' Welfare Association (HEWA) regarding pendency of RoSCTL.
The government is in the process of launching ‘Digital data based credit ratings’ of Micro, Small and Medium Enterprises (MSME), to help entrepreneurs to get bank loans on the basis of these credit ratings, Union Minister Nitin Gadkari said.
Divya Textiles of Surat has set up the first unit at the upcoming Whitegold Spintex Integrated Textile Park, which is being established at Ibrahimpatnam in Rangareddy district of Telangana.
India’s textiles ministry has entered into partnerships with 25 India Handloom Brand (IHB) retail stores in various cities as per IHB retail stores policy framework to sell IHB products and has engaged 23 e-commerce agencies for promoting e-marketing of handloom products, textiles minister Smriti Irani told the parliament lower house recently.