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Taxmann MSME Ready Reckoner Edition 2024

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Taxmann MSME Ready Reckoner Edition 2024

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Taxmann MSME Ready Reckoner Edition 2024

Taxmann MSME Ready Reckoner Edition 2024

Micro Small & Medium Enterprises (‘MSME’) Ready Reckoner is a comprehensive book on laws governing MSMEs in India. It analyses all the provisions of the MSME Act, 2006 in an easy-to-read FAQ format, along with relevant Circulars & Notifications, illustrations, case studies, etc.

This book is a handy referencer for MSMEs and professionals associated with the MSME sector.

This book is divided into eight divisions, namely:

  • MSMEs – Definition, Classification and Registration
  • Benefits to Registered MSMEs
  • Benefits to small businesses, whether registered MSMEs or not
  • Legal forms of organisation MSME can adopt and pros & cons of choice of various legal forms
  • Micro Enterprises
  • Small Enterprises
  • Medium Enterprises
  • Start-Ups

The Present Publication is the 4th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann’s Editorial Board, with the following noteworthy features:

  • [New Definitions & Classification of MSMEs] into Micro, Small and Medium enterprises based on composite criteria of investment and turnover
  • [Investment] How to Compute Investment
  • [Turnover] How to Compute Turnover
  • [Udyam Registration] How to file Udyam Registration
  • [Udyam Assist Registration] for informal micro enterprises
  • [Promotion of Timely Payments by Buyers to Micro/Small Enterprises] u/s 43B(h) of the Income-tax Act, 1961 is included in this book
  • [Vivad Se Vishwas I] scheme for providing reliefs to MSMEs from performance/bid security for non-performance of government contracts during COVID-19
  • [Central Government Schemes] for MSMEs
  • [Pre-Pack Insolvency Resolution Process] for debt-stressed corporate MSMEs
  • [Time-Bound Recovery of Dues by Micro and Small Enterprises through Samadhan Portal] including the recent Supreme Court decision interpreting Chapter V of the MSMED Act
  • [Online Loan Approval in 59 Minutes] for MSMEs
  • [MUDRA Scheme] for funding the Non-corporate Small Business Sector (NCSBS)
  • [TreDS] Trade Receivables Discounting System
  • [Ready Reckoner(s)] (subject-wise practical guide) for the following:
    • Micro Enterprises
    • Small Enterprises
    • Medium Enterprises
  • [MSME Reckoner on Turnover-Limit Linked Compliances/Exemptions] for the following:
    • Private Company
    • Limited Liability Partnerships
    • Tradition/General Partnership Firms
    • HUFs/Individuals
    • Public Company

The detailed contents of this book are as follows:

  • MSMEs – Definition, Classification and Registration
    • What is the new definition of ‘Micro Enterprises’, ‘Small Enterprises’ and ‘Medium Enterprises’?
    • How to compute the investment?
    • How to compute turnover
    • Classification of MSMEs based on new composite criteria (with illustrations and case studies)
    • Udyam Registration – How to file Udyam Registration
    • MSME Formalisation – Udyam Assist Portal
    • How and when MSMEs will be reclassified
    • What is ‘manufacturing’ or ‘production’ MSME, and what is ‘service MSME’?
  • Benefits to Registered MSMEs
    • Benefits from MSME Fund
    • What are the benefits available to registered MSMEs under the MSMED Act in respect of protection/remedies against delayed payments by buyers
    • Factoring & TReDS – Trade Receivables Discounting System
    • What are other benefits available to registered MSMEs under Central Schemes?
    • Relief for MSMEs from forfeiture of bid/performance security for non-performance of contract during the COVID period
    • Vivad se Vishwas II – Settling Contractual Disputes
    • Entity Digital Locker
    • Skill India Digital Platform
    • Pre-packaged insolvency resolution process for MSMEs who are corporate (i.e., Companies/LLPs)
  • Benefits to Small Businesses, whether Registered MSMEs or not
    • Benefits available to Small Businesses under the Income-tax Act, 1961
    • Exemption from compulsory tax audit to micro-enterprises
    • Low tax rate without exemption regime applicable to companies irrespective of size
    • Concessional rate of tax for SME companies without foregoing any exemptions
    • Relaxations in compliance to small companies under the Companies Act, 2013
    • MUDRA Scheme – Funding the Non-Corporate Small Business Sector (NCSBS)
    • PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi): A Special Micro-Credit facility for Street Vendors
    • 59 Minutes online loan approval for MSMEs
  • Legal Forms of Organisation MSMEs Can Adopt and Pros and Cons of Choice of Various Legal Forms
    • What legal forms of organisations can MSMEs adopt
    • Sole proprietorship
    • Traditional/General Partnership/Partnership Firm
    • Limited Liability Partnership (LLP)
    • Companies
    • Hindu Undivided Family
  • Micro Enterprises
    • Definition of micro-enterprises
    • Legal forms of organisation that are suitable for micro-enterprises
    • Registration as a micro-enterprise
  • Small Enterprises
    • Definition of small enterprises
    • Legal forms of organisation that are suitable for small enterprises
    • Registration as a small enterprise
  • Medium Enterprises
    • Definition of medium enterprises
    • Legal forms of organisation that are suitable for medium enterprises
    • Registration as a medium enterprise
  • Start-Ups
    • Definition of Start-up
    • Benefits to DPIIT-recognised start-ups under Start-up India Scheme

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About the author

Taxmann’s Editorial Board

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of Chartered Accountants, Company Secretaries and Lawyers. This team works under the guidance and supervision of Editor-In-Chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the Six Sigma approach to achieve the benchmark of zero error in publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorised and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Analytical write-ups should be provided on recent, controversial and important issues to help the readers to understand the concept and its implications
  • It must be ensured that every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements must be supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied

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