Covid 19 Relief Package: Top Taxation Relaxation to MSME

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What is the new definition of MSMEs?- Business News

www.carajput.com; MSME

Big Moves for MSME sector announcement FM Nirmala Sitharaman Announcements

Collateral Free Instant Loan for MSME. No guarantee is required. It’s been 4 years. No key repayment for 1 year.
Strong MSME: Subordinated Debt 20,000 Crore For Stressed MSMEs Rs. 20000 Crores subordinate debts (all NPAs or stressed MSMEs will be eligible)
MSME is doing a profitable business: 50,000 cr. Infusion of funds for growth For potential and vibrant MSMEs Rs. 50000 Crores Equity Infusion through the listing
For Standard MSMEs: 3 lacs Crores collateral-free loans (automated) up to 31st October 2020. Borrowers with up to Rs. 25 Crores outstanding and Rs.100 crores turnover are all eligible. These loans have 4 years term and 12 months moratorium. 100% credit guarantee covers principal and interest. This can be availed up to 31st October 2020.
Change the meaning of MSME: Definition of MSMEs Turnover & investment based new definition of MSMEs., Manufacturing and service industry will not be differentiated
- Micro: Restrict revised upward Expenditure up to 1 c. Or Turnover up to 5 kr.
- Small: Limit revised upward Investment up to a maximum of 10 cr. Or Turnover up to Cr. 50.
- Medium: Restrict revised upward Expenditure up to 20 kr. Or Turnover up to 100 C.
- No gap in the product and service industry for micro-enterprises
Government Tenders: International tenders will be rejected up to 200 Cr.
E-market linkage for MSME. Within the next 45 days, all payments will be made to MSME.

EPF: MEASURES FOR PROVIDENT FUNDS: Rs. 2500 Liquidity relief for Crores shall be provided to all establishments. March, July, and August Monthly payments from the EPF (both employer and employee payment) would be payable by the Government of India. (Deposited for the month of April, May, and June)
For June, July and August will be paid by the Government (72,22,000 employees will be benefitted). Total of Rs. 2500 benefit cr.
EPF: Statutory PF deposit limit reduced from 12% to 10% for the next 3 months. (6,750 cr.) (except CG and PSU’s)
NBFC, HFC & MFI; Rs. 30,000 cr. Special liquidity scheme
Partial credit guarantee scheme for NBFC: Rs. 45,000 cr scheme. Govt. of India will be a guarantor. 20% will be borne by GOI.
Discom: Liquidity crisis Rs. 90000 Equity for these firms against their receivables and on the economy Assurances. This amount will be paid by PFC and REC.
Contractors: All Indian Government agencies should be given an extension of up to 6 months in order to comply with the provisions of the deal without any termination provision. Partial relief as bank loans for partly finished communication should be issued up to the point of completion.

-TDS rates decreased by 25% of existing rates from tomorrow to 31.03.2021(Non-salaried to residents and TCS) Payment for

Vivad Se Vishwas Scheme extending to 31.12.2020. Pay with no extra cost.

-Pending refunds for charitable trusts, non-corporate enterprises, enterprises, associations, LLPs and corporations will be issued immediately.

-Date of The return for the Financial year 2019-20

– Date of assessment extended

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