New Delhi, 17th January (UNI) As the countdown to Budget 2022 begins, the MSME sector has urged the government to treat online and offline vendors equally by providing a unified policy and also extending the GST threshold for online sellers.
Noting that reducing compliance burdens (TPS) and registration standards for online players would go a long way in enabling the digitization of MSMEs, industry body Federation of Indian Micro, Small and Medium Enterprises (FISME) said said the regulatory framework should focus on parity. between offline and online sellers.
Additionally, he said the move will encourage smaller sellers to join the digital economy and continue to grow.
FISME also called for reducing the time and cost of project implementation by using the “Plug and Play” model.
The trade body called for enhancing the ease of doing business through the introduction of a “one stop shop system” for MSMEs by ensuring regulatory permits, streamlining of procedures, rules and regulations to help businesses to grow.
The one-stop-shop system would ensure access to multiple official formalities through a single point of contact. This will reduce costs, delays and turnaround times for documentation processes.
FISME further noted that the development of information and communication technologies (ICT) should integrate the rise of information technology in the country into the ecosystem of MSMEs through the creation of online portals. for formalities, regulatory filings, collaboration portal between various government departments, knowledge dissemination and market. promotion for MSMEs.
“This will allow for interaction with global investors and the network of experts helping the department implement its policies,” FISME said.
Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2022.
UNI NK GNK