Big ticket announcements & measures declared in Union Budget 25 will prove to be a game changer for MSME sector in the coming years which will ultimately go a long way in improving the performance of MSMEs resulting in the overall boost in the economy,said CA Julfesh Shah,Chairman, COSIA while presenting his views in Budget Analysis program jointly organised by MIDC Industries Association (MIA),Chamber of Small Industries Association (COSIA) & Vidarbha Plastic Industries Association (VPIA) at MIA house,Hingna Road.
CA Shah further highlighted & explained the 15 announcements in budget that were specially designed for MSMEs benefits & critical for expansion& global competitiveness.Major welcome change is changes in definition of MSMEs which will bring more than 95% of the total enterprises under the ambit of MSMEs & will become eligible for all the benefits & Incentives pertaining to MSMEs.Now investment in plant & machinery/equipments upto 125 crores & turnover upto 500 crores(excluding export turnover) will be eligible as MSME unit.
Gold Rate
Thursday 06 Feb. 2025
CA Suren Durugkar highlighted on the changes that were proposed in Direct Taxes & explain how raise in exemption limits of I tax will benefit the salaried& middle class taxpayers which will help in boosting consumption .
CA Ritesh Mehta deliberated on amendments carried out in GST & Customs. He shared the concerns about the Track and Trace policy to be implemented in GST for notified classes of products and specified persons. He also educated members about issuance of credit notes under GST and confirmation to be taken from the recipient. He also elaborated on the ongoing GST amnesty scheme for waiver of interest and penalty and also to apply for rectification in case of orders passed for Sec. 16(4) demands.
Earlier Shri Arun Lanjewar,Secretary,MIA made the welcome remarks & Shri Ajay Agrawal,Secretary VPIA gave the brief background about the program. CA Nitin Alshi,Treasurer,COSIA proposed formal vote of thanks.Shri Sachin Jain,Shri Ganesh Jaiswal,Shri Rajesh Londhe,Shri Aditya Mantri,Shri Dewin Kothari,Shri Daga,large section of members of MIA,COSIA & VPIA attended the budget analysis program.
