NEW DELHI: India's MSME sector is poised for a mega transformation in 2020, with the launch of an Alibaba-like e-marketplace, trendy yet affordable khadi products to appeal to the masses and digital data-based credit ratings to help entrepreneurs avail loans.
NEW DELHI: The government on Monday said that over 83,500 exporters have already been paid refund of Integrated Goods and Services Tax (IGST) of over Rs 1.12 lakh crore and refunds of only Rs 3,604 crores are pending with the Central Board of Indirect Taxes & Customs (CBIC).
New Delhi, Dec 30 (KNN) Staying out of emerging later Free Trade Agreements (FTAs), for example RCEP, is not a wise decision for India, the Federation of Indian Micro and Small & Medium Enterprises (FISME) country’s largest MSME body, said in its pre-budget memorandum.
The rupee gained 5 paise to 71.26 against the US dollar on Tuesday amid weakening of the greenback in the overseas market. The domestic currency opened almost flat at 71.32 on the last day of the calendar year 2019.
NEW DELHI : Shoppers braved the cold in north India and rushed to buy warm apparel and winter footwear that some retailers say has helped shore up sales in December.
Retailers such as Puma and Woodland said sales in December are up between 40% and 15% compared to a year ago as an intense cold wave gripped parts of north India and the temperature in the capital plummeted to 2.4 degrees Celsius.
Improved sales will help retailers tide over what has otherwise been a slow period as consumer sentiment and spending has remained weak through much of the year.
Retail sales usually get a boost during the festival season beginning October and the wedding season that follows. However, the sentiment remained muted this year during that period.
Two things that will change the way transactions are reported under the goods and services tax (GST) system in 2020 are electronic invoicing and new returns.