Taxmann's MSME Ready Reckoner 3rd Edition 2022

MSME Ready Reckoner s a comprehensive book on laws governing MSMEs in India. It provides an analysis of all the provisions of the MSME Act, 2006 in an easy-to-read FAQ format, along with relevant Circulars & Notifications, illustrations, case studies, etc. It will be helpful for MSMEs and professionals associated with the MSME sector.

Description

Micro Small & Medium Enterprises (‘MSME’) Ready Reckoner is a comprehensive book on laws governing MSMEs in India. It provides an analysis of 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 3^rd Edition, authored by Taxmann’s Editorial Board. The law stated in the book is amended up to 6^th May 2022, with the following noteworthy features:

• [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
• Public Company
• Limited Liability Partnerships
• Tradition/General Partnership Firms
• HUFs/Individuals
• [Draft National Policy] for MSMEs in India
• [Udyam Registration] How to file Udyam Registration
• [Benefits available for Registered MSMEs under MSMED Act] in respect of the following for delayed payment by buyers:
• Protection
• Remedies
• [TreDS] Trade Receivables Discounting System
• Benefits from MSME Fund
• [Pre-Packaged Insolvency Resolution Process] for debt stressed corporate MSMEs
• Public Procurement Policy
• [Central Government Schemes] for MSMEs
• [MUDRA Scheme] for funding the Non-corporate Small Business Sector (NCSBS)
• [Online Loan Approval in 59 Minutes] for MSMEs
• [Guaranteed Emergency Credit Line (GECL)] for MSMEs

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
• 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?
• Distressed Asset Fund – Subordinated Debt for Stressed MSMEs (DAF-SDSM)/Credit Guarantee Scheme for Subordinate Debt (CGSSD)
• The 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
• Presumptive Tax Regime available under Income-tax Act to businesses which are micro-enterprises
• Presumptive Tax Regime available under Income-tax Act to micro professional enterprises
• 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 compliances to small companies under the Companies Act, 2013
• Relaxations in compliances to small companies due to the COVID-19 outbreak
• 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
• Emergency credit line guarantee scheme of Rs. 4.5 lakh crore
• 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