Expression of Interest (EOI) For Inviting Online Tender cum auction (Forward Auction) for Industrial Plots to the eligible industrial units in Industrial Areas of MP Industrial Development Corporation Ltd. Department of Industrial Policy and Investment Promotion (DIPIP), GoMP MPIDC/LM/SWS-RFP/2025/NIT 01-01
Directorate General of Foreign Trade (DGFT) has presented the Special Advance Authorization Scheme for the advancement of the product of articles of clothing. This plan permits the obligation-free import of information texture, including interlining for delivery of articles of attire and dress extras.
The Advance Authorization for Garments permits the obligation-free imports of contributions (after considering wastage) assuming they are truly joined in an item that is being sent out. A commodity commitment is a condition for giving Special Advance Authorization for Garments.
The Special Advance Authorization for Garments is available to manufacturer exporter directly or a merchant exporter tied with a supporting manufacturer. The Authorization is possible for the following:
The Authorization and the texture imported are dependent upon the specific client condition; this implies that the genuine client alone may import such products. The Authorization won’t be adaptable even after the fulfillment of the commodity commitment. Notwithstanding, texture imported might be moved for work fill in as allowed by the Central Excise.
Exceptional Advance Authorization for Garments given in light of the accompanying circumstance:
Inputs took into consideration Special Advance Authorization: The Authorization issues for the import of pertinent textures, including internal covering just as information. No other data, pressing materials, fuel oil, and impetus are taken into account import under the Special Advance Authorization.
Standard Input-Output Norms (SION): The Director-General of Foreign Trade (DGFT), on the proposal of the Norms Committee, issues traditional standards that characterize how much information is expected in the assembling of a unit of the result item that will be sent out.
Self-affirmation: Sometimes, the SION isn’t accessible for a specific item. In such a case, an application might be made to the Regional Authority, who will give the Advance Authorization upon audit.
Yearly Advance Authorization: If the texture material is determined in SION, dependent upon specific circumstances, the development approval is given for the yearly necessities. Exporters need to have a previous commodity execution in somewhere around two going before monetary years, to be qualified for such Authorization.
Under Special development approval, the base Value Addition to be accomplished is 15%, except actual commodities for which installments are not gotten in unreservedly convertible cash and other indicated send-out items.
On the off chance that the exporter wants to guarantee not set in stone and fixed by the Central extract authority (brand rate), he/she wants to present an application for the Authorization and make a case trade under the case for brand rate.
The Special Advance Authorization for Garments is legitimate for quite some time from the date of issue of such Authorization. On account of considered sends out, the Authorization is connected to the contracted length of task execution or a year from the date of issue of such Authorization, whichever is more.
In any case, the commodity commitment might be satisfied in no less than a year and a half from the date of the issue of Authorization or as advised by the DGFT. Except if determined, the product continues ought to be acknowledged in openly convertible money.
Scheme for the product of Articles of clothes and dress adornments can be filled online through the authority site of the Directorate General of Foreign Trade (DGFT). The application technique is as per the following:
From the landing page of DGFT, select the web-based eCOM application choice under the Service choice; the connection will divert to the application page. The application methodology for filling the exceptional development approval is like filling of utilization for the normal development approval. In the wake of outfitting the subtleties transfer the following documents:
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An inverted tax structure could direct to accumulation of input tax credit on the taxpayer’s GST account. For e.g. input tax credit would give accumulated if a commodity purchases an input that is charged a 12% GST rate and sells the item after processing at a five percent GST rate. In such a scenario, the taxable person enrolled under GST can pertain for a refund of unutilized input tax credit due to an inverted tax structure. In this article, we look at the procedure for applying for an unutilized input tax credit refund under GST.
Before filing the application for a GST refund, assure that you have filed GSTR 1 and GSTR 3B returns for the relevant tax period for which the refund application is made. Ordinary taxpayers having a turnover of more than Rs.1.5 crores can file for GST reimbursement every month after filing the relevant GSTR 1 and GSTR 3B returns.
Note: Since GSTR 2 and GSTR 3 returns have been temporarily postponed, there is no requirement for filing such returns to claim a GST refund.
The maximum percentage count of refund that can be alleged by a taxpayer on account of an inverted tax configuration can be evaluated using the following formula:
Refund Amount = (Turnover of inverted rated supply of goods X Net input tax credit / Adjusted total turnover) – Tax payable on such inverted valued supply of goods
“Refund amount” implies the maximum refund that is adequate.
“Net ITC” implies input tax credit availed on inputs and input employment during the relevant period
“Turnover of overturned rated supply of goods” means the value of inverted supply of goods made during the relevant period without payment of tax under the bond of the undertaking.
“Tax payable on such inverted valued supply of goods,” says the tax payable on such inverted rated supply of goods under the similar head i.e. IGST, CGST, SGST.
“Adjusted Total turnover” means the turnover in a State, as defined under clause (112) of section 2 of the CGST Act, eliminating the value of free supplies other than inverted-rated supplies, during the relevant period
“Relevant period” implies the period for which the lawsuit has been filed.
Step 1: Select Application for Refund
Login to GST account.
Click on Application for Refund.
Step 1 – Unutilised Input Tax Credit Refund
Step 1 – Unutilised Input Tax Credit Refund
Step 2: Select Type for Refund Application
On the refund application page, choose the Refund on account of ITC accumulated due to the Inverted Tax Structure radio button. You can also choose and apply for other kinds of GST refunds from this page.
Select the tax period (year and month) for which the refund application needs to be filed below the GST refund kinds.
Click the create button.
Step 2 – Unutilised Input Tax Credit Refund
Step 3: Refund Computation
This is a vastly significant step in making the GST refund application. In the table analysis for refund, the following information must be given
In column-1 (Turnover of inverted rated supply of goods), enter the turnover of inverted rated supply of goods by pertaining to column-3.1(a) of the Form GSTR-3B.
In column-2 (Tax payable on such inverted rated supply of goods), enter the tax payable on such inverted rated supply of goods under the 4 major heads – IGST, CGST, SGST / UTGST, and CESS.
In column-3 (Adjusted estimate turnover), join the adjusted whole turnover.
In column-4 (Net input tax credit), enter the Net Input Tax value pictures for the main heads – IGST, CGST, SGST / UTGST, and CESS individually.
Step 3 – After filling in the appropriate figures, the refund amounts will get auto-populated for all the four major heads, in the “Amount Eligible for Refund” Table. The individual can verify the refund quantity as provided by the Government in the Refund Claimed table.
Step 4: Select Bank Account and Submit Application
The applicant shall earn the refund amount to one of the enrolled bank accounts in the GST Portal and linked with the taxpayer’s GST account. At the time of filling-out form RFD-01A, you will be expected to, select a bank account from the list of your linked / registered accounts in the GST Portal. In case the taxpayer compels receipt of refund in a various bank account, he/she may add that bank account in GST registration details by way of non-core amendment.
Step 5 – Unutilised Input Tax Credit Refund
The individual should save the refund application before filing. Hence, keep the refund application by clicking on the Save. Once, the procedure displays a confirmation message upon saving the application, the continue button will be generated.
Now agree by selecting the checkbox and click the PROCEED key to start the e-signing process.
Step 4A – Unutilised Input Tax Credit Refund
Step 4A – Unutilised Input Tax Credit Refund
Step 5: Sign the Refund Application
On clicking the proceed button, the steps for digitally signing the GST refund will start. You can now sign with a digital signature or EVC to complete and submit the application.
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Entrepreneurs and business owners can apply for MSME Loans (also known as Micro, Small, and Medium Enterprise Loans). This type of MSME loan provides you with operating capital that you can use for a variety of purposes, like purchasing expensive equipment, paying your employees’ wages, expanding your MSME loan business, or purchasing new products. In India, various lenders provide MSME loans to their customers. However, banks charge varying interest rates.
On May 13, 2020, the Indian government updated the definition of an MSME loan and made the changes public. The following is an updated definition of an MSME loan:
Micro, Small, and Medium Enterprises (MSME) can apply for loans to expand existing businesses or create new ones. Interest rates on MSME loans begin at 7.65% per year. Loans range from Rs. 50,000 to many crores. Depending on the accepted MSME loan amount, the MSME loan repayment period could continue up to fifteen years.
MSMEs (Micro, Small, and Medium Enterprises) are categorized in two ways:
The processes for joining up as a new user for MSME loan are as follows:
| S.NO. | Investment in Plant & Machinery or Equipment | Annual Turnover |
|---|---|---|
| Micro | Not more than Rs. 1 Crore | Not more than Rs. 5 Crore |
| Small | Not more than Rs. 10 Crore | Not more than Rs. 50 Crore |
| Medium | Not more than Rs. 50 Crore | Not more than Rs. 250 Crore |
Popular MSME initiatives launched by the Ministry of MSME loan and offered by banks or NBFCs are listed below:
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ICICI Bank business loan is one approach to finance your business needs. Funds are the most critical aspect of running a ICICI bank business. Furthermore, timely financing allows SMEs to maximize commercial prospects. The bank is a popular private sector ICICI Bank in India, and it has recently introduced a new ICICI Bank business loan lending package.
ICICI Bank’s Business Loan Details
A bank calculates your interest rate based on a number of criteria. Some of these criteria include –
The various parameters examined for the eligibility of an ICICI business loan are:
There are various perks of acquiring a loan from ICICI Bank:
The following documents are necessary for your Business Loan application:
A ICICI Bank business loan plan, often known as a project report, is an important document when requesting for a bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential. Furthermore, a well-written and convincing project report for Business loan raises the likelihood of loan approval.
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(Punjab National Bank) PNB Bank Business Loan offers business loans to start-ups, entrepreneurs, and self-employed individuals. They intend to meet the business’s capital needs or to expand operations.
The PNB bank business loan interest rate offered by PNB bank is determined by the applicant’s profile and PNB bank business loan requirements, as well as the applicant’s financial history, CIBIL score, loan repayment history, and other factors.
Punjab National Bank Business Loan Details
PNB provides loans to self-employed professionals and business loan owners to help them fund PNB bank business loan expansion or working capital requirements. There are certain perks to accepting a loan from PNB bank :
PNB provides a diverse range of PNB bank Business Loan Schemes to its customers. The following documents are typically requested under business financing schemes:
As stated above, a PNB bank business loan plan, also known as a project report, is an important document when requesting for a PNB bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential. A well-written and convincing project report improves the likelihood of loan acceptance.
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HDFC Bank Business Loan provides business loans to assist you start your own business anywhere in India, whether it’s a huge or small enterprise.
Every firm relies on funds to operate. Running day-to-day operations, paying staff, miscellaneous expenses, purchasing equipment and machinery, working with logistics, and servicing clients all require money, and getting funds in the event of an emergency can be challenging.
HDFC Business loans are collateral-free. Its low interest rates and policy transparency place it among India’s top business loan schemes.
The HDFC Bank business loan interest rate begins at 15.50% but fluctuates depending on the individual profile. Banks adjust their interest rates based on RBI rules.
The features and benefits of an HDFC Bank Business Loan are as follows:
The TIIC has launched an Equipment Finance Scheme for Existing Clients. They work towards the goal of assisting startups and existing users in any of the schemes. Obtaining funding for equipment is another financial device. This provides finance for business owners to purchase new machinery or repair old equipment.
Machinery financing benefits both small and large businesses. Additionally, corporate owners and equipment loan firms benefit from tax breaks. Furthermore, the interest rate, loan amount, and loan tenure can vary by bank. Additional possibilities for equipment leasing include finance leases, hire purchase contracts, operating leases, and so on.
Individuals, partnership firms, limited liability partnerships, corporations, trusts, and organizations. Each must include the following:
When applying for a machine loan, you will need to provide certain documents. It’s also simple to verify your information, which will aid in your loan application process. To apply for a machine loan, you must submit the following documents:
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Goods and Services Tax (GST) is an indirect tax levied in India on the sale of goods and services. It is a destination-based and comprehensive tax because it includes practically all indirect taxes, with the exception of a few state taxes.
Before digging into the required paperwork, it’s important to understand why GST registration is critical.
The documentation required for GST registration varies according to the type of business organization. The following is a thorough list organized by the nature of the business:
Preparing the necessary paperwork before beginning the GST registration procedure can save you a lot of time and effort. Ensure that all documentation are up to date and appropriately reflect your company information. GST registration not only makes your firm legally compliant, but it also creates opportunities for development and expansion. Stay compliant and competitive!
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The following are some of the most popular lending schemes available in India:
1. Prime Minister’s Employment Generation Programme (PMEGP)
Who is eligible for the PMEGP?
What are the benefits of the PMEGP?
Who is eligible for the CGTMSE?
The scheme provides guarantee insurance up to 50%, 75%, 80%, and 85% of the credit facility’s sanctioned amount. For credit of up to 5 lakh, micro-enterprises receive 85% guarantee cover. The guarantee cover is 50% of the credit facility’s sanctioned amount for loan ranging from 10 lakh to 100 lakh per MSE borrower for retail trade.
Who is eligible for the CLCSS?
All entrepreneurs and MSMEs who have launched their business and begun commercial production in the last year or less are eligible to apply for a provisional NSIC certificate valid for one year.
Currently, there is a 75% rebate on the rating fee imposed by rating agencies for all types of MSEs (General or SC/ST) seeking a fresh rating.
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