Get Your Money Sooner: How the 45-Day Rule Benefits MSMEs!

Have you ever lent money to a friend, expecting it back soon, but then waited... and waited? It's frustrating, right? Imagine that in business: you provide a service or product, but chasing payments becomes a full-time job. This is where the new 45-day rule for MSMEs steps in, changing the game for small businesses and startups like yours.

Understanding the 45-Day Rule:

In simple terms, this rule says if an MSME (like you!) sells goods or services, the buyer (big companies, mostly) must pay within 45 days. If they don’t, they can’t write off the expense and end up paying more taxes. Sounds fair, doesn't it? This rule makes sure your cash doesn't get stuck for long.

Why It’s a Win for MSMEs:

• Faster Payments: No more waiting beyond 45 days for your hard-earned money.
• Earn Interest: If payment is late, you can charge interest at three times the bank rate. Yes, you read that right!
• Special for Udhyam Registered: This benefit is exclusively for businesses with Udhyam Certification.
• Take Action: If someone's not paying up, MSME Samadhaan is there to help you fight back.
• A Clever Tax Twist: The delay costs the buyer more in taxes, making them think twice before delaying.

This rule is a big step towards fairness and respect in the business world, ensuring you're not left waiting for the payment you rightfully earned.

What's Next?

Imagine running your business without worrying about when payments will come through. With the 45-day rule for MSMEs, it's not just a dream but a reality. This is about making sure you have the power to grow your business on your terms.

Stay Informed and Inspired:

To explore into how this 45-day rule can benefit your business and to stay updated with more insights, strategies, and updates from the startup and MSME world, subscribe to Startup Samvaad. Let’s keep the conversation going and grow together in this exciting business journey.

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Cheers to Your Success,