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sums covered by S.43B, except payable to MSME are allowable if actually paid before due date to file ITR. So, these can be claimed in ITR for payments up to 31.10.2026 (ITR due date).
The amendments in the MSMED Act to facilitate growth and development of MSME sector
The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, was passed by the Parliament in August 2026. It updates the existing MSMED Act, 2006 to align its provisions with the requirements of the MSME sector.
Two downstream aluminium industry bodies have urged the Ministry of Mines to reduce the effective Customs duty on primary aluminium, saying the current tariff structure has enabled import-parity pricing by domestic producers, raising input costs and eroding the profitability of micro, small and medium enterprises (MSMEs).
The Delhi High Court has directed the Central Board of Indirect Taxes and Customs (CBIC) and the Commissioner of Customs to consider providing preferential treatment to start-ups and micro, small, and medium enterprises (MSMEs) facing delays in customs procedures, especially for low-value consignments.
The new GST regime previewed by Prime Minister Narendra Modi in his Independence Day address would be consumer-centric, with particular emphasis on the poor, the MSMEs, the middle class and the farmers, senior government sources said on Sunday (August 17, 2025).
The number of MSMEs with GST registration is set to rise after the CBIC asked its officials to relax scrutiny for such businesses, according to two people aware of the development. MSMEs contribute around 30% of India’s GDP.
Private starts-ups and other MSMEs are receiving notices to pay 18 per cent taxes under the CGST Act on funding received from the Ministry of Defence for research and development (R&D). Government officials say this amounts to “taxing innovation” as it disincentivises Prime Minister Narendra Modi’s focus on ‘aatmanirbharta’ in the military sector.
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a faceless GST audit system to boost ease of doing business in the country.
Taxing capital less may not lead to more investments but taxing more will drive capital away, Chief Economic Advisor V Anantha Nageswaran on Friday said during a discussion on Inequality, Economic Growth and Inclusion. While it is easy to drive capital out, bringing it back is a lot harder, said Nageswaran.