According to Pankaj Chaudhary, Minister of State in the Finance Ministry, MSME groups nationwide have approved Section 43B of the Income-tax Act 1961, amended last year to address the problem of small firms' delayed payments. On Monday, Chaudhary told the Lok Sabha that "many MSME associations have endorsed the intervention introduced in the budget last year to ensure timely payments as being beneficial to the micro and small enterprises (MSEs)."
According to Pankaj Chaudhary, Minister of State in the Finance Ministry, MSME groups nationwide have approved Section 43B of the Income-tax Act 1961, amended last year to address the problem of small firms' delayed payments. On Monday, Chaudhary told the Lok Sabha that "many MSME associations have endorsed the intervention introduced in the budget last year to ensure timely payments as being beneficial to the micro and small enterprises (MSEs)."