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.
ItÂ 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.Â 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