Defence Minister Rajnath to launch India Manufacturing Show on Nov 6
In the lead-up to the show, billed as the Aerospace & Defence Engineering Expo, Bharat Electronics Ltd Chairman and MD Manoj Jain underscored the critical role of large industries in nurturing and empowering MSMEs to make them globally competitive and locally empowered.. Speaking at the curtain-raiser event, Jain emphasised that quality and certification were non-negotiable in the aerospace and defence sectors.
Addressing concerns frequently raised by MSMEs regarding payment delays, the BEL CMD urged them to adopt rigorous documentation processes. 'For instance, if GST payments are not properly reflected, it leads to delays. MSMEs must ensure documentation is flawless,' he said. ENS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
4 hours ago
- Deccan Herald
BEL chief: Defence MSMEs must meet quality for global role
Micro, Small and Medium Enterprises in the defence and aerospace sectors must adhere to stringent quality standards to become part of the global supply chain, Bharat Electronics Limited chairman and managing director Manoj Jain said on Saturday. Speaking at the curtain-raiser of the 7th edition of the India Manufacturing Show (IMS), billed as the 'Aerospace & Defence Engineering Expo', Jain stressed the importance of quality and certification. "MSMEs must align with stringent quality and certification standards if they are to be part of the global supply chain," he said, adding that flexibility—without compromising regulatory compliance—is essential from both large industries and MSMEs. "This calls for a mindset change across the ecosystem," he noted. India Manufacturing Show India Manufacturing Show 2025 is being organised by Laghu Udyog Bharati-Karnataka in association with the IMS Foundation. The international expo, scheduled to be held from November 6-8 at the Bangalore International Exhibition Centre, will showcase core manufacturing verticals, including defence and aerospace. Defence Minister Rajnath Singh will inaugurate the event, which is expected to generate business leads worth Rs 450 crore, according to a press note.
Time of India
5 hours ago
- Time of India
Builder faces penalty for four-year delay in unit handover in Gurgaon
Gurgaon: Haryana Real Estate Regulatory Authority (HRera) has ordered a realty firm to pay interest at 11.1% per annum to a complainant for a delay of over four years in handing over a commercial unit in its Sector 70 project, '70 Grandwalk'. The complaint, filed under Section 31 of the RERA Act, was disposed of on July 24 by HRera (Gurgaon). The interest must be paid within 90 days from the date of the order. Additionally, Shine Buildcon Pvt Ltd was instructed to hand over possession within 30 days of dues being cleared by the complainant and to execute the conveyance deed as per Section 17 of the Act. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon The Authority also took strong exception to illegal charges levied by the developer, including inflated car parking and club membership fees. It ruled that Shine Buildcon could not demand any amount not stipulated in the original buyer's agreement. Charges for electricity, maintenance and other utilities were also to be levied strictly as per the agreement and on a proportionate basis. The complainant booked Unit A-001, a 907 sqft commercial shop, on the ground floor of the project in Oct 2014. A buyer's agreement was executed on May 11, 2015, under which the developer was obligated to hand over possession within 42 months, along with an additional six-month grace period. This brought the due date for possession to May 11, 2019. However, the occupation certificate was issued only on Oct 10, 2023 and the offer of possession was made on Nov 24, 2023 — marking a delay of more than four years. Shine Buildcon argued the delay was due to force majeure conditions such as demonetisation, GST implementation, environmental bans and the Covid-19 pandemic. HRera dismissed these claims, observing the cited disruptions were temporary and could not justify the prolonged delay. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
5 hours ago
- Time of India
UPI data: GST Council may grant amnesty to small vendors, says central tax commissioner
Bengaluru: The GST Council could consider granting amnesty from interest and penalties to small vendors who have been issued tax notices based on UPI transaction data, according to Kotraswamy M, commissioner of central taxes. "If this issue is being flagged because there are so many taxpayers, the GST Council can take a call, giving amnesty to them from interest and penalty. So, there is a solution rather than making it a political issue," he said at an awareness and grievance redressal seminar organised by Rotary Bangalore, JP Nagar. The official's statement comes after chief minister Siddaramaiah's assurance that only traders with a turnover exceeding Rs 40 lakh on goods would be scrutinised, and old dues will not be enforced if vendors register for GST going forward. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Kotraswamy acknowledged discomfort and confusion caused by the GST notices among small business owners, attributing it to a lack of digital literacy and awareness. "Maybe their digital education is not adequate, they are not aware and feel that something bad has happened," he said, adding that once they know what they are supposed to do, they will find nothing wrong with the notices. The tax official also emphasised the importance of understanding legal requirements for businesses. "The transactions are captured in some way - digitally or through banking transactions, UPI or whatever. If somebody provided services with an annual turnover of more than Rs 20 lakh, or goods worth more than Rs 40 lakh, they are supposed to register themselves," he explained. Amrita Ranjan, principal commissioner of income tax, Bengaluru, confirmed that the department will continue to identify cases of tax violations. "... When the code works, it will work on a threshold and we will identify the cases," she added. BOX: What rules say It is mandatory for businesses with annual sales of Rs 40 lakh or more for supply of goods, and Rs 20 lakh or more for the supply of services, to register for GST. The Union govt also made it clear that it is not planning to levy GST on UPI transactions exceeding Rs 2,000, the finance ministry clarified in the Rajya Sabha last week after confusion caused by notices issued based on UPI data. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
