Micro Small & Medium Enterprises (MSME) Ready Reckoner May 2023

Micro Small & Medium Enterprises (MSME) Ready Reckoner 4th Edition May 2023 Taxmann

“Discover essential insights for Micro, Small & Medium Enterprises (MSMEs) in the 4th Edition of Taxmann’s May 2023 Ready Reckoner. Navigate tax and financial strategies with expert guidance to boost your business’s success.”

——– Description ———-
* Micro Small & Medium Enterprises (MSME) Ready Reckoner is a Comprehensive book on laws governing MSMEs in India. It analyses all the provisions of the MSME Act, 2006 in an easy-to-read FAQ format, along with relevant Circulars & Notifications, illustrations, case studies, etc.
* This book is a handy referencer for MSMEs and professionals associated with the MSME sector.
* This book is divided into eight divisions, namely:
– MSMEs – Definition, Classification and Registration
– Benefits to Registered MSMEs
– Benefits to small businesses, whether registered MSMEs or not
– Legal forms of organisation MSME can adopt and pros & cons of choice of various legal forms
– Micro Enterprises
– Small Enterprises
– Medium Enterprises
– Start-Ups
* The Present Publication is the 4th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann’s Editorial Board, with the following noteworthy features:
– [New Definitions & Classification of MSMEs] into Micro, Small and Medium enterprises based on composite – criteria of investment and turnover
– [Investment] How to Compute Investment
– [Turnover] How to Compute Turnover
– [Udyam Registration] How to file Udyam Registration
– [Udyam Assist Registration] for informal micro enterprises
– [Promotion of Timely Payments by Buyers to Micro/Small Enterprises] u/s 43B(h) of the Income-tax Act, 1961 is included in this book
– [Vivad Se Vishwas I] scheme for providing reliefs to MSMEs from performance/bid security for non-performance of government contracts during COVID-19
– [Central Government Schemes] for MSMEs
– [Pre-Pack Insolvency Resolution Process] for debt-stressed corporate MSMEs
– [Time-Bound Recovery of Dues by Micro and Small Enterprises through Samadhan Portal] including the recent Supreme Court decision interpreting Chapter V of the MSMED Act
– [Online Loan Approval in 59 Minutes] for MSMEs
– [MUDRA Scheme] for funding the Non-corporate Small Business Sector (NCSBS)
– [TreDS] Trade Receivables Discounting System
– [Ready Reckoner(s)] (subject-wise practical guide) for the following:
– Micro Enterprises
– Small Enterprises
– Medium Enterprises
* [MSME Reckoner on Turnover-Limit Linked Compliances/Exemptions] for the following:
– Private Company
– Limited Liability Partnerships
– Tradition/General Partnership Firms
– HUFs/Individuals
– Public Company
* The detailed contents of this book are as follows:
* MSMEs – Definition, Classification and Registration
– What is the new definition of ‘Micro Enterprises’, ‘Small Enterprises’ and ‘Medium Enterprises’?
– How to compute the investment?
– How to compute turnover
– Classification of MSMEs based on new composite criteria (with illustrations and case studies)
– Udyam Registration – How to file Udyam Registration
– MSME Formalisation – Udyam Assist Portal
– How and when MSMEs will be reclassified
– What is ‘manufacturing’ or ‘production’ MSME, and what is ‘service MSME’?
* Benefits to Registered MSMEs
– Benefits from MSME Fund
– What are the benefits available to registered MSMEs under the MSMED Act in respect of protection/remedies against delayed payments by buyers
– Factoring & TReDS – Trade Receivables Discounting System
– What are other benefits available to registered MSMEs under Central Schemes?
– Relief for MSMEs from forfeiture of bid/performance security for non-performance of contract during the COVID period
– Vivad se Vishwas II – Settling Contractual Disputes
– Entity Digital Locker
– Skill India Digital Platform
– Pre-packaged insolvency resolution process for MSMEs who are corporate (i.e., Companies/LLPs)
* Benefits to Small Businesses, whether Registered MSMEs or not
– Benefits available to Small Businesses under the Income-tax Act, 1961
– Exemption from compulsory tax audit to micro-enterprises
– Low tax rate without exemption regime applicable to companies irrespective of size
– Concessional rate of tax for SME companies without foregoing any exemptions
– Relaxations in compliance to small companies under the Companies Act, 2013
– MUDRA Scheme – Funding the Non-Corporate Small Business Sector (NCSBS)
– PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi): A Special Micro-Credit facility for Street Vendors
59 Minutes online loan approval for MSMEs
* Legal Forms of Organisation MSMEs Can Adopt and Pros and Cons of Choice of Various Legal Forms
– What legal forms of organisations can MSMEs adopt
– Sole proprietorship
– Traditional/General Partnership/Partnership Firm
– Limited Liability Partnership (LLP)
Companies
– Hindu Undivided Family
* Micro Enterprises
– Definition of micro-enterprises
– Legal forms of organisation that are suitable for micro-enterprises
– Registration as a micro-enterprise
* Small Enterprises
– Definition of small enterprises
– Legal forms of organisation that are suitable for small enterprises
– Registration as a small enterprise
* Medium Enterprises
– Definition of medium enterprises
– Legal forms of organisation that are suitable for medium enterprises
– Registration as a medium enterprise
* Start-Ups
– Definition of Start-up
– Benefits to DPIIT-recognised start-ups under Start-up India Scheme