Msme Units: The central government has made it compulsory for buyers to make payments to MSEs within 45 days with the inclusion of section 43B(H) in the Income Tax Act. If any firm fails to make the payment in the stipulated time the purchase amount will be included in the income for the buyer.
GCCI president Ajay Patel, in a letter dated October 16, stated registered businesses are required to furnish their monthly return for the month of October 2023, latest by November 20.
Sachin Patel, former president of Vatva Industries Association said, “A number of large companies have set up their manufacturing base through VGGS and state-based MSMEs have been supplying various products to them. This has created a new growth avenue for MSMEs and we believe that new opportunities will emerge this time, too.”
Echoing similar views, Shreekrishna Nepal, joint secretary at the Ministry of Finance in Nepal, implored that there are several opportunities for Indians to invest in Nepal “especially in hydropower”.
When a law student, who was caught with 19 chits in a taxation subject exam paper at the Nirma University exam moved court seeking relief to appear for exams, Gujarat High Court Acting Chief Justice AJ Desai could not help but ask his legal representative if the student “desired to practise on the criminal side”, indicating at the conduct of the student.