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Exporters Seek Exemption from 45-Day Payment Rule Impacting MSMEs

The Indian export sector, representing a significant portion of the nation’s economy, is facing a critical challenge due to a recent regulation mandating the clearance of outstanding invoices owed to micro and small enterprises within 45 days. Approximately 150,000 exporters, through various export promotion councils, are …

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MSME Udyam Portal Unveils Effortless Verification Feature for Udyam Registration

In a move aimed at enhancing transparency and facilitating compliance, the MSME Udyam Portal has rolled out a significant update introducing a user-friendly feature that allows seamless verification of Udyam Registration numbers. This feature comes at a critical juncture, aligning with the recent amendment to the …

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New MSME Payment Rule Leads to Many Order Cancellations

In a significant development for the assessment year 2024-25, the central government has implemented a new rule requiring buyers to settle payments for goods purchased from Micro, Small, and Medium Enterprises (MSMEs) within 45 days of delivery. Additionally, all outstanding dues to MSMEs must be cleared …

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