Know-WHICH-TRADers-WILL-Le-Included-In-In-New-MSME-LAW-News18 hindi

Ramkumar Nayak/Raipur: Business is the wheel of the economy of any country. By starting small scale industries or business, a person starts looking for his better future. The time limit to pay according to Micro, Small and Medium Enterprises i.e. MSME has been reduced to 45 days. Borrowed goods cannot be purchased after 45 days in any condition. If you do not have an agreement, then you have to pay within 15 days, if an agreement or contract is done then it will get 45 days time.

If the merchant whose payment is not made on time, then according to the law under MSME, the merchant can also demand interest and you will have to pay the amount of interest. Chartered Accountants and Chamber of Commerce have told different things on this new law and order.

These traders have no relation with MSME
State Vice President of Chamber of Commerce Mukesh Aggarwal said that MSME is related to small scale industries, who are registered with traders MSME. Small traders will get the benefit of this. His credit limit is 45 days. If there is more than 45 days, then there is a provision of interest. This rule will be applicable only to registered traders in MSME. Such traders, whose trade is more than 2 crores and less than 50 crores, falls in MSME. Those who trade more than 50 crore have no relation with MSME. The new law of MSME is very good, no one needs to panic. The arrival of a new rule takes some time. Amendments are made when some problems occur.

New law and order damage to traders
Chartered accountant Hardik Jain said that the new law and order of MEMS will harm the traders who have bought goods from MSME. Most of the stores run a couple of months in the market market. Cash trade runs less. Those traders who come under Section 44D will not have to face it. They have 6 to 8% profit declaration. But the number of traders who have an account of the account will have to be paid.