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.
The new income tax law requiring master distributors to clear MSME bills within 45 days sparks concern among merchants. Some reduce purchases to comply, fearing tax implications. Merchants argue customers face no such deadlines, posing payment challenges. Trade bodies seek grace periods and leniency, highlighting logistical and financial hurdles. Calls for government payments to set examples and requests for extensions underscore broader industry apprehensions over the law s impact on trade dynamics.
Interested parties can submit their land acquisition applications until October 27, and the selection of applicants will be determined through a lucky draw scheduled for November 17.
Mamata Banerjee: Speaking at a business event in Barcelona, the chief minister said, "The seventh edition of the Bengal Global Business Summit will focus on the MSME sector. Of course, big industries will also be there. There are hundreds of MSME units in the state which employ millions of people. Many from outside West Bengal also come to the state to work."