IndiaMARTMicro, small and medium enterprises (MSMEs) contribute about 45 per cent of the manufacturing output, 40 per cent of the total exports of the Indian economy. They have been the torchbearers of a fast- growing India. However, if their small set ups help them be agile, it also brings them difficult operating scenarios. Many believe that availability of finance is the biggest worry for MSMEs. However, what hinders MSMEs most is knocking on multiple government departments especially in taxation. We urge the government for simplification and unification of taxation for MSMEs. We firmly believe that a “Single Window Clearance System”is an idea whose time has come. It will not only reduce red tapism, efforts, time and costs, but also reduce unintential non-compliance by MSMEs to a great extent. It will allow MSME owners to submit regulatory documents to a single department. This paperwork mainly involves lengthy applications for import-export permits, customs declarations, trading invoices and other such documentation: for example easing up statutory compliances in the National Manufacturing Policy of 2012.
Read more at http://issuu.com/incindia/docs/inc_india-vol-03-issue-12_january-2013?mode=window&pageNumber=34
