Raja Warring meets Union Finance Minister; Demand for suspension of Section 43-B

New Delhi: Punjab Congress president and Ludhiana MP Amrinder Singh Raja Warring has urged Union Finance Minister Nirmala Sitharaman to postpone instead of implementing Section 43B of the Finance Act, 2023, which deals with payment of small shopkeepers registered under MHME.

Warring met the Union finance minister in Delhi and submitted a memorandum to her in this regard. According to this amendment, if small and micro vendors are not paid within the period prescribed under Section 15 of the MSME Act, 2006, then the expenses will not be allowed to be deducted under the Income Tax Act.

He said this has badly affected the MSME sector and weakened their financial capacity. He said that this clause should be postponed in view of the current dynamics of the MSME sector. He said that small traders of Ludhiana are struggling with this situation.