The Ministry of MSME vide S.O. 4926 (E) dated October 18, 2022 has notified that in case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of category it was in before the re-classification, for a period of three years from the date of the such upward change.
This decision has been taken after due deliberations with MSME stakeholders and is in line with the Aatma Nirbhar Bharat Abhiyan. The Ministry of MSME, Government of India, has allowed those registered MSMEs to continue to avail of non-tax benefits for three years, instead of one year, in case of upward graduation in their category and consequent reclassification. Non-tax benefits include benefits of various schemes of the Government, including Public Procurement Policy, Delayed Payments, etc.
For Complete Notification click here
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1869091
Recorded GST Course on:
Scrutiny Notices, Assessment, Audit, Inspection, Search, Seizure and Arrest under GST (September, 2022) by CA. Bimal Jain
4 Day | 4 Session | 12 Hours
2,999/- (Inclusive of GST)
Register Now !!
https://www.a2ztaxcorp.in/product/gst-course-new/
For details, or any queries,
Call us at: 8076563802, 011 42427056 or E-Mail us at: info@a2ztaxcorp.com, intern@a2ztaxcorp.com or Visit: www.a2ztaxcorp.in
Leave a Reply