E-Commerce and MSMEs: Highlights from the 2024 Budget Announcement
Tuesday, 23 July 2024, 12:51
E-Commerce Budget Announcement: Key Provisions
The 2024 budget has announced several measures aimed at enhancing the e-commerce sector and supporting MSMEs.
Major Highlights
- TDS Rate Reduction: The TDS rate on e-commerce transactions has been reduced from 1% to 0.1%, significantly improving liquidity for sellers.
- Collateral-Free Schemes: New schemes will allow MSMEs to purchase machinery and equipment without requiring collateral.
- MUDRA Loan Limits: The budget increases MUDRA loan limits to facilitate better access to credit.
- TReDS Registration: The turnover threshold for TReDS registration has been reduced, which aims to alleviate credit challenges in the MSME sector.
In conclusion, this budget aims to create a more favorable environment for e-commerce and MSMEs, addressing critical credit issues and encouraging growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.