“The MSME Ministry asked the Finance Ministry to administer the 45-day rule through the Income Tax amendment, which was not correct. The 45-day payment rule is very strict,” he said. The ...

has issued a warning that MSME apparel manufacturers could suffer losses of Rs 5,000-7,000 crore in the January-March 2025 quarter due to the income tax amendment linked to this rule. Retailers ...

Jain further explained the implications of the provision on buyers of MSME goods or services ... but it falls short The FM said the Income Tax amendment of 2023 was only meant to make sure ...