Del. HC: Denying Seat to Candidate Due to Administrative Fault Would be Unjust  ||  All. HC: Not Mandatory for Passport Authority to Impound Passport of Accused Persons  ||  Raj. HC: In Absence of Statutory Rules, Denying Appt. on Basis of Minimum Height is Discriminatory  ||  MP HC: Party Required to Lay Factual Foundation for Getting Benefit of Section 65 of Evidence Act  ||  Ker. HC: Settlement of Cases Including Offence of Rape & POCSO Act Offences is Not Permissible  ||  Gujarat High Court: Wife Allowed to Become Guardian & Manager of Husband in Coma  ||  SC: Partition of Property Can’t be Done by Metes & Bounds in Chandigarh  ||  SC Approves Requirement for Judicial Officers to be Converse With Local Language  ||  Kerala High Court: Denial of Ordinary Leave Reduces Convict’s Chances of Rehabilitation  ||  Delhi HC Issues Circular Regarding Pass-Overs or Adjournments in Bail, Parole Matters    

Amendments approved in interest subvention scheme for MSMEs- (Press Information Bureau) (16 Dec 2019)

MANU/PIBU/2108/2019

Commercial

Changes set to give Fillip to the MSME Sector

The Minister for Micro, Small and Medium Enterprises and Road Transport & Highways, Shri Nitin Gadkari approved the changes in the Interest Subvention Scheme for MSMEs, in a meeting held here today to review the functioning of the scheme. The improvements are set to provide momentum giving fillip to the MSME sector. The Interest Subvention Scheme for MSMEs was launched by the Prime Minister Shri Narendra Modi in November, 2018. The modifications in operational guidelines carried out are based on suggestions made by various stakeholders, including banks and lending institutions who had brought to light operational difficulties which were hindering a smooth rollout of the scheme.

The details of the improvements / modifications are as below:-

1. Settlement of claims based on internal / concurrent auditor certificate and submission of statutory auditor's certificate once by June 30, 2020;

2. Acceptance of claims in multiple lots for a given half year by eligible institutions;

3. Requirement of Udyog Aadhar Number (UAN) is dispensed with for units eligible for GST.

4. The last date of submission of claims for half-yearly period ended March, 31, 2019 has now been extended till December 31, 2019.

5. Trading activities without UAN have been made eligible.

6. 50% of the estimated claim amounts may be released to eligible institutions (at least to those belonging to Public Sector Banks), based on data / information to be furnished by them and the Utilisation Certificate duly certified by respective statutory auditor to submitted by June 2020.

Tags : AMENDMENTS   INTEREST SUBVENTION  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved