Tips in MSME 43B -Income Tax

Tips in MSME 43B -Income Tax

Tips in MSME 43B -Income Tax

Tips in MSME 43B(h) -Income Tax

dated 2-March-2024 : 9 am

  1. Have you made your Financial Budget to pay all eligible MSME vendor’s : Arrange Funds as soon as possible. Keep Buffer for new creditors, new invoices of this period.
  2. Sent letters to all creditors ? Kept evidence ?

  3. Do you have letters or MOU with each MSME vendor, … with overriding clause for 45 days, irrespective of the PO’s and Invoices. ( get the format in the Google drive link below )
  4. Reduce your advance tax ? Pay MSME in Advance. …. yes possible ( most likely.) But conditions apply. Risk involved. But likely due to a past Supreme Court Judgement
  5. turnover sales
  6. Sales Idea.. if you have power to do more sales, and have sufficient funds : Deregister in MSMED Act…. give affidavit to your Potential Customers… “Get More Sales” and “Get more Margin”

  7. Non Registered MSME Vendors ….? The Udhyam Adhar is compulsory. No need to see the Balance Sheet, or take a CA Certificate. Not relevant and not required.
  8. Past or Future ? Future bills only ( 1-4-2023 are not in problem in this section.. they are problem in section 41 .. with bigger consequences

  9. Three year MSME category Rule notification dt 18-10-2022.. Change of category upwards… you can take the benefit of previous classification for three long years. Yes you can. ( see notification in the Google drive link below )
  10. Cheque Hand over ?? This idea can work only if you have 100% clear balance in your bank account… Else… It will not be acceptable

  11. Towards a New INDIA
  12. Faster business cycles. Money is coming automatically to most MSME’s .. every day… Congratulations.
  13. Hope the PSU’s also start paying in the same way.┬áThe PSU chief will be shocked with huge tax if he does not organise the payments to all the MSME vendors in time… this will create a new culture.


Ideas, Tips, things to take care of… MSME act related 43B(h) income tax topic . Good ideas you can work around with and make more money.

Google Drive link for the Powerpoint presentation of the Session by Mr Sangeet Kr Gupta. in the last Zoom seminar


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