The National Small Industries Corporation (NSIC) said on Tuesday, it has signed an MoU (Memorandum of Understanding) with the Micro, Small, and Medium Enterprises (MSME) Ministry for 2019-20 in the presence of Ram Mohan Mishra, CMD, NSIC, and MSME Secretary Arun Kumar Panda, PTI reported.
The Infrastructure Development Company Limited (Idcol), will be seeking $100 million in loans from the GCF, and hopes to secure a further $66 million through borrower co-financing.
GST Network (GSTN) Tuesday said it has started offering free accounting and billing software to MSMEs with annual turnover of up to Rs 1.5 crore, which would benefit about 80 lakh small businesses.
The Centre may soon launch an electronic invoice system mechanism under Goods and Services Tax (GST) for companies, but it will only be applicable to big firms in the initial stages, sources told The Economic Times.
On July 1, 2019, the Goods and Services Tax (GST) completes two years since it came into effect. Inspired by the idea of one nation one tax, GST replaced 17 taxes and cesses with just five tax rate slabs, starting from 0 to 28 per cent. It was geared towards making India one market and two years later, it appears to have succeeded.
The National Small Industries Corporation Limited (NSIC) signed a Memorandum of Understanding (MoU) with Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2019-20.