Lok Sabha passes MSME Development Amendment Bill without debate

The Bill seeks to address the current challenges faced by the MSME sector by improving the administrative structure and facilitating payment mechanisms

The Lok Sabha has taken a vital step by passing a bill aimed at simplifying tax rules to enhance investment attractiveness. The new legislation abolishes a limitation on specific electronic payment options, allowing banks and providers to charge merchants on transactions. Additionally, the government is empowered to re

Real-time payments made through RTGS and NEFT are done by paying a service charge. However, UPI transactions have been exempted from such charges so far.