Over Rs 26k crore MSME dues cleared during May-Dec 2020 but govt can’t force buyers to pay: MoS Finance

To which invoice is Notification No 14/2020- Central Tax dated 21st March, 2020 applicable? Would this requirement be applicable on invoices issued for supplies made for Exports?

Credit and Finance for MSMEs: 4,72,035 invoices involving Rs 10,285 crore were discounted via TReDs platform from April till December 2020. TReDs allows MSMEs to discount their invoices and raise short-term credit from banks to tide over their delayed payment issue.

Central ministries and central public sector enterprises (CPSEs) have cleared MSME dues worth Rs 26,821.08 crore during the May-December 2020 period, according to the Finance Ministry’s data. The total dues stood at Rs 34,506.09 crore while dues pending amounted to Rs 7,685.01 crore during the period. The highest procurement by 26 ministries and 105 CPSEs was made worth Rs 6,499.92 crore in December out of which Rs 4,821.90 crore was cleared to MSMEs while Rs 1,678.02 crore was pending at the end of the month. Ministry of Communications, Heavy Industries and Public Enterprises, Petroleum and Natural Gas, Steel, Power, Coal, etc., had received the majority.

“The Ministry has taken up the subject vigorously with the Central Ministries, Central Public Sector Enterprises (CPSEs) and State Governments and the Corporate entities. But, it is to be noted that the Central Government cannot issue any directions to, or force, State Governments or State PSEs to pay the dues,” MoS Finance Anurag Singh Thakur said in a written reply to a question in the Lok Sabha recently sharing data on the dues cleared. The MSME Ministry had written to 500 corporates in September and another 2,800 such businesses in October to clear pending MSME dues in the respective month.

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