During a meeting of Shri Nitin Gadkari, Union Minister for MSME and Road Transport and Highways with the representatives of Council of Leather Export, FICCI-‘NBFC Program’ and IMC Chamber of Commerce and Industry on impact of COVID-19 on MSMEs, Some of the questions asked and the suggestions given included
Major Points discussed :
Including traders as MSMEs,
Inclusion of Medium enterprises in the M/o MSME order dated 02.11.2018 related to timeline of 45 days for payment to MSMEs.
· List of questions asked and the suggestions given included:
Kindly note that:
Shri Gadkari responded to the questions from representatives and requested for sending suggestions and assured all the help from the government: Author views: 1. As per above suggestions, Traders may be allowed to get registered as MSME under the MSMED Act, 2006 via udyogaadhaar Registration. 2. This will help a big group of Traders to get benefits under MSME. 3. Soon Medium Enterprises will also get benefit of Protection against Payments (Delayed Payments). In any case, a payment due to a micro or small or Medium enterprise (only suggestion) cannot exceed 45 days from the day of acceptance or the day of deemed acceptance. And if payment got delayed: Interest is to be paid at three times the bank rate notified by the RBI.
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