The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was established by the Government of India to promote and sustain the credit flow to the micro and small enterprise (MSE) sector. It was set up by the Ministry of Micro, Small and Medium Enterprises (MSME) and the Small Industries Development Bank of India (SIDBI) to provide credit guarantees to financial institutions on loans extended to MSEs. This scheme encourages banks and financial institutions to lend more freely to the MSE sector by providing them with a safety net against default.

The Trade Receivables Discounting System (TReDS) is an electronic platform introduced by the Reserve Bank of India (RBI) to facilitate the financing and discounting of trade receivables of Micro, Small, and Medium Enterprises (MSMEs) from corporate buyers through multiple financiers. The platform aims to address the issue of delayed payments to MSMEs, thereby improving their liquidity and cash flow.

The SME-IPO scheme is a tailored initiative to facilitate small and medium enterprises (SMEs) in raising equity capital from the public market. It aims to provide SMEs with an avenue to access capital markets, thereby enabling them to meet their business expansion and diversification requirements. This scheme is regulated by the Securities and Exchange Board of India (SEBI) and is offered on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under their respective SME platforms.

The MSME SAMADHAAN Portal is an initiative by the Ministry of Micro, Small, and Medium Enterprises (MSME), Government of India, to facilitate the resolution of delayed payment disputes between MSMEs and their buyers. The portal enables MSMEs to file their complaints regarding delayed payments online and track the status of their applications. It is a critical tool in ensuring the timely recovery of dues for MSMEs, thus improving their cash flow and financial health.

Section 43B of the Income Tax Act, 1961, lists certain deductions that are allowed only on an actual payment CA MANOJ LAMBA & CA(DR) RAJ CHAWLA Page 41 Financial Architects: CA Career Shaping in MSME and startup 2024 basis. This means that the expenses mentioned in this section can be claimed as a deduction only if they have been paid during the previous year, irrespective of the accrual or due basis followed by the taxpayer. The newly inserted clause (h) in Section 43B addresses the issue of delayed payments to Micro, Small, and Medium Enterprises (MSMEs).

The Government e-Marketplace (GeM) is an online platform established by the Government of India to facilitate the procurement of goods and services by various government departments, organizations, and public sector undertakings (PSUs). Launched on August 9, 2016, GeM aims to enhance transparency, efficiency, and speed in public procurement. The portal enables government buyers to procure goods and services from registered sellers in a transparent and efficient manner, thereby promoting fair competition and ensuring value for money.

The Open Network for Digital Commerce (ONDC) is an initiative by the Government of India to create an open, interoperable network to enable digital commerce in India. Launched to democratize digital commerce and level the playing field for small and medium businesses, ONDC aims to break the dominance of large e-commerce platforms by providing a decentralized, open network. This network facilitates the participation of sellers and buyers from diverse backgrounds and regions, thereby promoting inclusivity and fair competition.