The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

State should formulate OTS policy for non corporate MSMEs-COSIA

by TLN Team April 17, 2022April 17, 2022
written by TLN Team April 17, 2022April 17, 2022
State should formulate OTS policy for non corporate MSMEs-COSIA

In this challenging times, MSMEs are passing through a difficult phase.Many non corporate MSMEs which are stressed or became sick are finding it difficult to settle their financial & statutory obligations.But they cannot approach NCLT since it is meant only for corporate units. Hence Maharashtra Govt should come out with some enactment on giving concessions or OTS scheme which will help this stressed non corporate MSMEs in settling their outstanding dues with concession & starting afresh or that MSME can be taken over by other entity demanded COSIA, Vidarbha in a meeting with Maharashtra State ,Minister of Industry Subhash Desai .CA Julfesh Shah , Chairman, COSIA ,Vidarbha submitted a memorandum in this regard to Minister.

It further demanded incentives for Installing Solar power for Captive Use as Maharashtra is facing acute shortage of power generation and industries are facing power cut which disrupts the production efficiency of the unit. Government is time and again promoting the use renewable energy and appealing to Entrepreneurs to use renewable energy in the form of Solar Energy which is need of the hour.

But under PSI-2019,Solar power equipment installed in the unit are excluded in the definition of eligible assets under Fixed Capital Investment (FCI) to be considered for incentives. With government promoting , the solar power it is imperative that similar incentives should be given for installation of solar power in factory for captive use,memorandum stated.

Also it pointed out at injustice being done to Special LSI units in PSI -19 scheme.A special LSI is a one having eligible investment of more than Rs 50 crores but less than 100 crores. Whereas units below 50 crores investments & units above 100 crores including mega units are getting IPS in the form of Gross SGST reimbursement, only for special LSI it is provided NET SGST & that too only 40% which in majority of the cases are unable to claim benefits. Hence investing between 50 crores to 100 crores as Special LSI doesn’t give them any major benefits & is sort of discrimination for the units falling within this investment bracket COSIA earnestly appealed to remove this anomaly & give them incentives at least at par with LSI units.

Many other issues relating to MIDC ,MPCB,stamp duty etc pertaining to MSMEs were discussed during the meeting.Shri Desai assured to look into the issues & resolve it at the earliest.Mr Vaibhav Agrawal,Vice Chairman COSIA Vidarbha,CA Nitin Alshi, Shri Ajay More,Dy.CEO,MIDC,Shri G.O.Bharti,Jt Dir of Industries,Nagpur were present during the ocassion

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Delightful Moment for The Blind Relief Association Nagpur’s Mundle English Medium School as It celebrates Its Silver Jubilee
next post
NOT 3000 CORPORATE BRANDS BUT 30,000 SMALL & TINY BRANDS ARE RULING THE RETAIL TRADE

You may also like

Explore the beauty of marble with Asian Marbles:...

May 21, 2023

Vidarbha on the way for sustainable and Profitable...

May 15, 2023

Ex-ICAI Nagpur chairman Saket Bagadiya nominated for ICAI...

May 13, 2023

NVCC form new membership committee

May 10, 2023

VIA Session “Interaction on Certification and Marketing of Natural...

May 6, 2023

Cooperation Minister advises NDDB to make India “dairy to the world” with...

April 28, 2023

Session on Edit log – A Statutory Compliance...

April 27, 2023

VIA & LITAA : Virtual Seminar on “...

April 26, 2023

H.E. Consul General of Norway in Mumbai Interacted...

April 25, 2023

NTPC Provides Financial Aid for Eye Care Unit...

April 17, 2023

Trending News

  • IPL 2023 Final: Gujarat Vs Chennai, winning team to get 20 crore

    May 28, 2023
  • World Cup cricket match will be held in Nagpur too

    May 28, 2023
  • PM Modi places historic ‘Sengol’ in new Parliament building,

    May 28, 2023
  • McLaren Unveils Artura, its First High-performance Hybrid Supercar in India at Rs 5.1 crore

    May 27, 2023
  • TTD alters rules to reduce waiting time for devotees at Tirupati temple; new rules to apply till June 30

    May 26, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

April 2022
M T W T F S S
« Mar   May »
 123
45678910
11121314151617
18192021222324
252627282930  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.