22-February-2024
Economy News
 
India Inc using various ploys on payments to small businesses for dodging tax impact
12-Feb-2024

Many big and small businesses are playing a cat-and-mouse game. Some are taking an aggressive stance, while most are waiting it out, knocking on the government's doors, as a well-meaning, yet unsettling, law aims to move the wheels of commerce faster. Under the law - Section 43B(h) of the Income Tax Act - whose impact would be felt for the first time this year, a business entity failing to pay its vendors registered as 'micro' or 'small' (MSE) within 45 days of delivery, would not get the...

News Source:- https://economictimes.indiatimes.com/news/company/corporate-trends/businesses-navigate-new-tax-law-impacting-mse-payments-seek-government-intervention/articleshow/107607061.cms