MSMEs seek govt. intervention to recover dues from PSUs
The Hindu
They have also sought extension of time for filing GST returns
Medium Small and Micro Enterprises (MSMEs) in the State have urged the State and the Union governments to expedite clearance of payments due to them by public sector units and corporations. Fortunes of the MSMEs hinge on timely payment by bulk buyers, including public sector units and government boards and corporations. But the delay in payments and lockdown have together exacerbated their financial woes and the units are now tethering on the brink of closure. Though the Centre introduced the Micro, Small, Medium Enterprise Development Act, 2006, so as to bail out ancillary units from such a situation and specified a credit period of only 45 days, the provisions of the Act are never invoked to ensure timely recovery of payments.
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