Staff reporter
The government today issued notification that an MSME enterprise will continue to avail all non-tax benefits of the category in case of an upward change in terms of investment in plant and machinery. The benefits can be availed for a period of three years from the date of such upward change.
The decision has been taken after due deliberations with Micro, Small and Medium Enterprises stakeholders and is in line with the Aatma Nirbhar Bharat Abhiyan.
It clarifies that if in case an enterprise sees an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, it can still avail all non-tax benefits of the category it was in before the re-classification.
Non-tax benefits include benefits of various schemes of the government related to public procurement policy and delayed payments.