1. MSME Guidelines and Helpline Number

For general queries related to MSME, please contact (CDN/RTI & PG), at No. 011-23063288 or 011-23063643.

2.

  1. Important MSME benefits during pre-COVID regime

 

  • Easy finance availability from Banks ;
  • Interest Rate Concession (MSME can avail a benefit of 1 to 1.5 % Reduction in interest rate);
  • Credit Linked Guarantee Scheme ( subject to certain conditions);
  • Registered entities must be paid their dues by the buyers within 45 days. Any delay in such payment will attract mandatory interest. The said Interest payable to MSME will not be allowed as a Business Expenditure under Income Tax Act;
  • Waiver in Earnest Money (Security Deposit ) in Government tenders;
  • Concession in electricity bills in certain cases;
  • Marketing Development Assistance and Export Promotion by Government;
  • MSME Training and Development program;

 

  1. NEW MSME benefits and Current Stimulus Package

 

ACCESS TO FINANCE || ACCESS TO MARKETS || REINVENTING NEW PRODUCT LINES || BUSINESS PROCESS AUTOMATION

  • Rs 3 lakh crores Collateral free Automatic Loans for Business, incl MSME;
  • Rs 20,000 crore Subordinate Debt for MSMEs;
  • Rs 50,000 crores equity infusion through MSME Fund of Funds;
  • Global tender to be disallowed upto Rs 200 crores;
  • No fresh insolvency proceeding against MSMEs for 1 year;
  • eMarket linkage for MSMEs to be promoted to act as a replacement for trade fairs and exhibitions;
  • Rs. 90,000 crores liquidity injection for DISCOMs;
  • Reduction of CRR by RBI resulting in increased liquidity with Banks;
  • MSME receivables from Government to be cleared in 45 days;

 

  1. OTHER INCENTIVES/POSSIBILITIES TO CONSERVE CASH

 

  • COMPANY FRESH START SCHEME 2020 – One time condonation of delay;
  • LLP SETTLEMENT SCHEME, 2020 – One time condonation of delay;
  • Obtaining Lower Tax Deduction Certificate, reducing TDS rates and conserving Cash
  • Permission to Deposit TDS on Quarterly Basis and conserving cash;
  • Raise Complaint on CP Gram, Income tax, GST for early refunds;
  • Uberisation of Workforce and the GIG Economy;
  • Executing Employee Flexi Contracts;
  • Significance of Force Majeure and Contract Review;
  • Actions to deal with constraint in sales, operations, orders or cash and receivables management;
  • Listing fees reduced for SMEs

 

Regulatory Relaxations (PART I)

 

  • Reduction in TDS Rates by 25% (Salary Excluded)
  • All pending GST Refunds to be cleared
  • Statutory PF contribution of both employer and employee will be reduced to 10% each from existing 12% each for all establishments covered by EPFO for next 3 months.
  • Extension in various Due Dates of GST, TDS & Income Tax Returns
  • All pending Income Tax Refunds to be cleared

 

Regulatory Relaxations (PART II)

 

  • Decriminalization of Companies Act violations involving minor technical and procedural defaults
  • 16 compoundable offences shifted to an in-house adjudication & penalty mechanism
  • Reduce compliance burden under various provisions of the Companies Act,2013 as well as enable Companies conduct Board Meetings, EGMs & AGMs, Rights issue by leveraging the strengths of Digital India
  • Extension of due dates for filings with SEBI & relaxations in LODR
  • Private companies which list NCDs on stock exchanges not to be regarded as listed companies

 

Regulatory Relaxations (PART III)

 

  • Extension of Aadhaar-PAN linking date to 30 June, 2020
  • Extension in due date of filings for PF and ESI and various Commercial Taxes, Property Tax
  • Extension of last date of filing of Income Returns FY 2018-19 (AY 2019-20) to 30 June, 2020, 80C Investments till 30 June, 2020
  • Direct listing of securities by Indian public companies in permissible foreign jurisdictions
  • Tax relief on Forced Tax Residency to help income tax implications

 

 

  1. MCA Circular: Passing resolutions at EOGM thru VC now extended till 30th September 2020

 

Subject: Clarification on passing of ordinary and special resolutions by companies under the Companies act,2013 read with rules made thereunder on account of Covid-l9 – Extension of time- reg.

 

  • The Ministry has issued General circular No. 14/2020 on 8th April, 2020 and General circular No. 17/2O2O on 13th April, 2020 for providing clarifications on passing of ordinary and special resolutions -by companies by holding extraordinary general meetings (EGMs) through video conferencing (VC) or other audio visual means (OAVM) or passing of Certain items only through postal ballot without convening general meeting. The framework provided in the said circulars allows companies to hold relevant EGMs or transact relevant business through postal ballots, as per procedure specified therein, upto 3Os June, 2020 or till further orders, whichever is earlier. Requests have been received from the stakeholders for extending the period upto which the framework provided in the aforesaid circulars may be utilized by the companies.
  • The matter has been examined and it has been decided allows companies to conduct their EGMs through VC or oAVM or transact items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 30th September, 2O2O. ALL other requirements provided in the said Circulars remain unchanged.
  • This issues with the approval of the competent authority.