NEW DELHI: The government is finalising a new definition for micro, small and medium enterprises (MSMEs), which will be linked to turnover and do away with the current system of classifying units based on the capital deployed in plant and machinery.
New Delhi, Oct 29 (KNN) Union Minister for Micro Small and Medium Enterprises (MSMEs) Nitin Gadkari while lauding the MSME contribution in country's Gross Domestic Product (GDP) has said that the government's target is to double the turnover received from handloom and village-based industries.
India's roadmap for achieving its target of becoming a $5 trillion economy by 2024 was ready, said Prime Minister Narendra Modi on Tuesday.
NEW DELHI: The government is finalising a new definition for micro, small and medium enterprises (MSMEs), which will be linked to turnover and do away with the current system of classifying units based on the capital deployed in plant and machinery.
Much like China and other Asian giants - but unlike India - Bangladesh has achieved structural transformation with manufacturing and exports driving its growth in output (GDP) and employment.
New GST Input Tax Credit Rules: Millions of GST payers are eagerly awaiting clarity over the new rules notified early this month that restricted the refund of input tax credit to 20% of the total claimed amount.