Government Increases the Cash Credit Limit For MSMEs To 30 %

Government Increases the Cash Credit Limit For MSMEs To 30 %

The Union government has increased the Cash Credit (CC) limit for Micro, Small and Medium Enterprises (MSMEs) to 30 percent of turnover from the existing(मौजूदा) 20 percent to encourage them to conduct businesses digitally. Through digital means of conducting the business, the balance

sheet of companies would be clean and this would help MSMEs to get loans from banks and promote (को बढ़ावा देना) Ease of Doing Business. Presently the taxes for MSMes are calculated at 8 percent for revenue(राजस्व)  of up to Rs 2 crore. With digital transaction, tax liability(दायित्व)  will be reduced from 8 percent to 6 percent.