The new definition of Micro, Small, and Medium Entities (MSME) has been introduced by the Union Ministry of MSME wide Notification dtd. 26/06/2020, its new name “UDYAM Registration” and a new portal “UDYAM Registration Portal”. A clarification has also been issued by the ministry about new classification criteria in MSME. 

Frequently Asked Questions For Udyam Registration Portal

Q.1 How long does the current UAM or EM-Part-II valid for? 

All the current UAMs and EM Part II register till June 30, 2020 have the validity of March 31, 2021. Failing to do so with the UDYAM portal before the given date will result in suspension of UDYAM Registration status. 

Q.2 What is the time limit of registration for currently registered entities “EM Part II and UAMs”?
The time limit to register EM Part II and UAMs is July 1, 2020 to March 31, 2021, according to the notification dtd. 26/06/2020. However, this service has not been started by UDYAM Portal yet. All the existing UAMs and EM Part II are valid till March 31, 2021. 

Q.3 Is the reclassification of entities applicable to register the current entities according to the new criteria for MSMEs? 
Yes, reclassification of all entities registered by June 30, 2020 shall be applicable after the new criteria. A notification will be sent by the ministry to entities in both cases, whether it is reverse graduation (down to a lower category) or upward change (from lower to higher category). With fresh UDYAM Registration, re-classification can also be applicable for new entities. 

Q.4 What will happen after the upward change with reclassification? 
An entity will keep its current status until the end of the year from the closure of the year of registration. For example, if an entity is registered on March 31, 2021, i.e. the last date, the prevailing status will have a validity of one year from the closing of the year after registration, i.e. March 31, 2022, on the upward change in status (Small, Micro or Medium). 

Q.5 What will happen after reverse graduation because of reclassification? 
An entity has to keep its current status until the end of fiscal year and it will be important for the benefit of status that has been changed w.e.f. April 1 of the financial year only after the year when those changes happened. For example, if an entity has registered on March 31, 2021, i.e. the last date, the benefit of status change will be reflected from April 1 of the fiscal year after which those changes happened, i.e. April 1, 2022. 

Q.6 Are PAN and GSTIN required to do UDYAM Registration? 
Entities without GSTIN or PAN are relaxed by the ministry until March 31, 2021. They can register by March 31, 2021 on self-declaration basis and GSTIN and PAN will be recommended. 

Q.7 Do current entities with UAM should take GSTIN despite the fact that their turnover is not exceeding the limit for GST registration? 
As mentioned earlier, GSTIN is important despite the coverage of entities under the definitions for eligible entities for taking GST registration. 

Q.8 Will traders be allowed for registration under MSMEs? 
Traders cannot be registered under MSME, as of now. 

Q.9 What is the last date for entities without GSTIN and PAN, who have UDYAM Registration to take PAN and GSTIN registration on self-declaration basis? 
For these entities, the last date for PAN and GSTIN registration is March 31, 2021 and they will be subject to suspension if they don’t apply for GSTIN and PAN registration and fail to update it on self-declaration basis on UDYAM registration portal login before March 31, 2021. 

Q.10 Is it possible to do multiple UDYAM registrations on the same PAN? 
No, a single PAN is not sufficient for multiple UDYAM registrations. 

Q.11 Can I add a new branch or plant in an already registered business with UDYAM? 
Yes, you can update UDYAM registration to add a new branch or new plant to your business. With the UDYAM registration number, a business can update its details online on self-declaration basis on the portal. 

Q.12 What to do if the Turnover field is not automatically filled in the UDYAM registration form while doing UDYAM registration? 
Information regarding the turnover is linked to GSTIN No. for an enterprise and GST return filed last year. While submitting the form, the boxes are not filled automatically. This way, the turnover will be checked at backend once you submit the application. In addition, application is filed on self-declaration basis if applicant hasn’t filed any GST return. He can fill details and file the application with GST details on or before April 31, 2021. 

Q.13 Can I take multiple UAMs for UDYAM on the basis of one Aadhar in the earlier registration process? 
According to the new UDYAM registration process, you cannot generate many UDYAM registrations with one Aadhar. 

Q.14 How to change the UDYAM which has been taken already?
You can go to UDYAM registration gov in and update the information online on self-declaration basis with UDYAM registration number. 

Q.15 What is the value of Equipment or Plant and Machinery for registration? 
The value of the invoice of machinery, plant or equipment is mentioned for the registration purposes, according to the notification released on June, 26, 2020. As on March 31 of the relevant year, UDYAM portal has been recording the reduced cost and UDYAM registration certificate is generated on the basis of the same entities. 

Hence, a clarification has been issued by the ministry dated August 6, 2020. The Written Down Value (WDV) shall be considered the value of Equipments or Plant and Machinery at the end of Financial Year as given the ITR filed last year and not the original price or acquisition cost. Ministry has also asked RBI to review the circular on July 2, 2020 with above clarification with regards to the calculation of Equipments or Plant and Machinery. 

Q.16 How many NIC codes can be added to one UDYAM registration? 
UDYAM registration allows only 10 NIC codes at once. 

Q.17 Have prohibited NIC codes been available for UDYAM Registration? 
NIC codes which have been prohibited already are still prohibited for registration. In this regard, the Office Memorandum dtd. 27/06/2017 has been amended by the Ministry of MSME and replaced “Udyog Aadhar Memorandum” term with “UDYAM Certificate” in the notification on July 17, 2020. Here’s the link to official notification – https://UDYAMregistration.gov.in/docs/OM_UAN_17_7_2020.pdf 

Q.18 Has the portal started operating for current MSME registrations with UAM or EM-II? 
No, this service has not been started yet at the UDYAM portal. 

Q.19 Is the old UAM portal still working? 
Yes, a new tab Udyog Aadhar has been added on the UDYAM registration portal which takes you to the old Udyog Aadhar Memorandum portal. However, the old portal is open only for some specific purposes and 4 new tabs have been added for redirection – 

• Print Application 
• Update Udyog Aadhaar
• Verify Udyog Aadhaar 
• Print Certificate 

But, you can access this service only until March 31, 2021. 

Q.20 Can you update the old UAM?
Yes, you can update the old UAM with the new tab on UDYAM registration portal but it is open only until March 31, 2021. 

Q.21 Can wholly-owned foreign company subsidiaries, MNC or Foreign subsidiaries be registered as MSME in India? 
Yes, MSME registration is open to all businesses which have a place in India and are registered in India. MSME registration has no restriction from a wholly-owned subsidiary of a foreign subsidiary, foreign company, or MNC. 

Q.22 Can we add new plants and/or NIC codes in old UAM? 
Yes, NIC codes can be removed or added and Plants can be added or deleted according to your needs. You will see the changes in old UAM accordingly. But you can do it only until March 31, 2021. 

Disclaimer – The contents in the above article are intended, but not guaranteed to be precise, up-to-date and complete. This post is only for informational purposes. 

New MSME Definition

The criteria that differentiate between manufacturing and service MSMEs have now been removed. 

MSME Criteria

Key points of Aatma Nirbhar Bharat Abhiyaan

• Collateral free loans for All businesses (including MSMEs) up to the value of Rs. 3 lakh crore rupees.
• Manufacturing and service will now be considered as a single entity.
• This will benefit about 4.5 million units in India.
• Relief of up to 2% in interest will be provided for loans up to Rs 3 lakh.
• Owners of pedestrian businesses were offered a loan amount of Rs 10,000. This will benefit 50 lakh shopkeepers.
• Repayment period of 48 months with 100% Credit Guarantee.

Some Loans related information provided by the Banks and NBFCs

Lendingkart Finance MSME Loans details

• Maximum loan amount up to Rs. 2 crores.
• Minimum loan amount of Rs. 50,000.
• Interest Rate will be charged 18% onwards.
• Processing Fee is 2% of the loan amount.
• The repayment tenure for 36 months.
• Loan sanctioning time within 3 working days.
• Collateral security not required.

SBI MUDRA Loans Details

• Maximum loan amount up to Rs. 20 crores.
• Interest Rate will be charged 9.75% onwards.
• Processing Fee is 2.50% of the loan amount.
• The repayment tenure for 120 months.
• Collateral security not required.
• The current account holder must be at least 2 years old

Bajaj Finserv MSME Loan Details

• Maximum loan amount up to Rs. 30 lakhs.
• Interest Rate will be charged 18% onwards.
• Processing Fee is 3% of the loan amount.
• The repayment tenure for 60 months.
• Collateral security not required.
• Loan sanctioning time within 1 day.

Banks that provide MSME Loans

• State Bank of India
• ICICI Bank
• HDFC Bank
• Union Bank
• Indian Bank
• Central Bank
• Allahabad Bank
• Oriental Bank of Commerce
• Bajaj Finserv

In order to get an MSME loan firstly, you need to be a Micro or Small or Medium entrepreneur manufacturing or providing a service as mentioned in the MSMED Act 2006.

MSME Loan Schemes

MUDRA Loan

Micro Units Development and Refinance Agency or commonly known as MUDRA loan is a scheme that was introduced to provide support to the small business owners and it is operated under Pradhan Mantri Mudra Yojana (PMMY). The scheme fully assists banks to give loans up to Rs 10 lakh to all micro units MSME.

There Are Three Categories Under Mudra Loan

• Shishu category covers loans up to Rs. 50,000
• Kishore category covers loans above Rs. 50,000 and up to Rs. 5,00,000
• Tarun category covers loans above Rs. 5,00,000 and up to Rs. 10,00,000

Sub-Schemes Under Mudra Loan Scheme

• Mahila Uddyami Scheme
• Mudra Card
• Refinance Scheme for Banks
• Equipment Finance Scheme
• Credit for Micro Enterprises
• Micro-Credit Scheme
• Credit Guarantee Fund

Credit Guarantee Fund Trust for Micro and Small Enterprises

CGTMSE means the Credit Guarantee Fund Trust for Micro and Small Enterprises, an initiative of the Government of India in association with MSME and SIDBI, whose job is to establish a robust credit relief system which promotes better credit flow for MSMEs in India. 

Under the CGTMSE scheme; 

• Under MSME loan, MSMEs are eligible for a maximum credit cap of Rs 2 crore and Under MSME rehabilitation, the dilapidated MSME units are eligible for a maximum credit cap of Rs 1 crore.

Prime Minister’s Employment Generation Programme

PMEGP is a program of the Government of India under the Ministry of MSME and provides loans for setting up new units in manufacturing and business segments. The maximum project cost is Rs 25 lakh for the manufacturing sector and Rs 10 lakh for the service sector. Almost a 35% subsidy is given under this Scheme to increase the entrepreneurs in India.

Your own contribution to the project will be 5% to 10% and the government will subside your project cost from 15% to 35%.

How to apply for MSME loan ?

• Visit the Udyam Registration website. It is the national portal for registration of MSME enterprises.
• Fill in information such as Aadhaar number and name of Entrepreneur.
• After you fill the required details in the form, click on ‘validate’ and generate OTP.
• OTP will be sent to your Aadhaar linked registered mobile number. After that, fill the OTP on the window that appears and click on ‘validate’ and the application form will appear.
• Click ‘Submit’

Documents Required for MSME Loan

• Duly filled up the MSME loan application.
• Identity Proof: PAN Card, Driving Licence, Passport, Voter Identity Card.
• Residence Proof: Telephone Bill, Electricity Bills, Trade License, Passport, Lease Agreement, Ration Card and Sales Tax Certificate.
• Age Proof: Passport, Voter’s ID Card, PAN card.
• Financial Documents: Last 12 months’ bank statement, Business registration proof, Proprietor(s) PAN Card Copy, Partnership deed in case Partnership Firm, Company PAN card copy, P&L and Balance sheet copy of last 2 years, Tax documents, Municipal tax document

Are you worried about asking for payments of overdue invoices?  Do you often forget to call your customers for orders & payments in your busy schedule? Are you tired of dialing numbers on your mobile for making calls daily? 

Don’t worry. It’s absolutely normal to get tired & forgot things. With some technology & techniques you can definitely get rid of this struggle. Yes, we are talking out calling your customers directly from your system or software.

To simplify the overall calling process for Retailers & Distributors Marg ERP launched a ‘Direct Calling App’ which can be downloaded free from the Google Play Store. There are many ways of contacting your customers, and you might already have tested many. But just ask yourself, if there is any better way then direct Calling. Marg ERP, therefore, introduced a concept where the user can call the customer by just clicking on the Call icon on the system.

SMEs & MSMEs are already dealing with countless problems on different fronts. But what is potentially damaging is late payment. Marg ERP with 28 years of experience as the market leader and helping small businesses to build have studied that around 50-60% invoices can be cleared via email only. But the rest still needs further input & efforts. You need to messages or call the customer and remind them of payments. While calling via phone you also to the entire customer history handy, which is also a challenging process.

This is where the need for Direct Calling App arises, and Marg ERP being the backbone of the business for over 1 million users, tried to simplify the process of calling. This modern feature i.e. Direct Calling, of Marg ERP, eliminates the need for typing numbers completely. Moreover, complete details of the customer is displayed on the software screen at the time of calling which is an added benefit. Searching for numbers, dialing them, collecting other details is a very time-consuming task. Let’s say your operator needs to make a 50 calls per day, and he need 10 minutes times to collect everything before every single call. That calculates to 500 minutes wasted every day. Now being a businessman you can easily calculate the losses here.

Benefits of Direct Calling 

?No need to Dial manually

?Designed for Distributors & Retailers

?Call at just 1 click

?Customer’s history at one place

?Save time & Hassle-free

?Control losses by Direct Calling

?Improves Efficient & Accuracy

Direct Calling Process

 Step 1: Download Mar Calling App from Google Play store

Step 2: Scan the QR code to sync your mobile with the software

Step 3: Click on the Call icon on the software screen

Step 4: All Done 

Now let’s discuss some beneficial strategies for Direct Calling

The below-listed strategies, if you put in the right place, you don’t have to worry about anything. It’s a good idea to apply strategies before invoices become overdue and your customer starts avoiding your calls. Direct Calling is one of the most effective ways of getting paid.  

Have all the necessary information in front of you. 

You can manage it easily with Marg ERP.

?Invoice reference number

?Category of invoice

?Issue date

?Overdue days (if any)

?Payment history

?Ledger details

Keep the objective in mind

Make sure you politely hit the target, whether you are calling for outstanding payments, order, etc. Make sure to: 

?Resolve any dispute

?Finalize a payment Date

?Offer multiple payment options

?Simplify the process

Always approach a customer with an unbeatable positive approach. 

The above-explained need and importance of the Direct Calling feature highlight the support Marg ERP is offering to its customers. This feature helps to manage customer flow in an orderly manner. It helps in hasslefree calling done by just 1 click. This system developed by Marg ERP is an economical, simple & effective system consisting of one system with Marg ERP software & one mobile with Marg ERP Calling App. No technical training required and thus helps to reduce cost & other expenses.

Direct Calling is a wireless system that is an ideal solution that helps to improve User experience by eliminating the need of dialing numbers of Mobile and is completely free for Marg users. This approach helps to save time and increases business efficiency to many folds. The unique feature designed by Marg ERP for retailers & distributors is suited for the following trades: 

?Supermarkets

?FMCG retails stores

?Pharmacy

?Pharmaceutical companies

?Grocery stores

?Retail stores etc.

Latest News:

Considering the present situation the government has planned to suspend the section 7, 9 and 10 of insolvency and bankruptcy code for 6 months. FM Nirmala sitharaman also announced that the threshold for default under IBC is raised to Rs. 1 crore from Rs. 10 Lakh earlier. This step has been taken in consideration to prevent the triggering of IVC for MSMEs. The government has also announced that no additional charges will be applicable on late filing of documents that are required to be filled on the MCA21 during lock down period. This will reduce the company’s burden including financial burden of the company and limited liability partnerships.

What are Micro, Small & Medium Enterprises ?

In India, which is still in the developing phase,  Micro, Small and Medium Enterprises known as MSME forms the backbone of the business economy. The MSME sector is contributing a great share in India’s Total Industrial Employment i.e. 45%. The share of MSME in Total exports is 95% manufacturing more than 6000 products per year. The development and growth of these industries directly impact the country’s growth and GDP. The overall growth of the company depends on the success of these MSME industries. The industry is also widely known as SSI (small-scale industries).

The registrations for both manufacturing company or the service company can be attained through the MSME act. Although MSME registration is not mandatory by the government of India. But the MSME can have many benefits after registration. For example benefits in taxation, business set up, credit facilities, loans etc. The concept of MSME came into existence on October 02 2006, to promote and help the micro, small & medium enterprises grow and flourish.

Categorisation of MSME

Micro, Small & Medium Enterprises are categorised on the basis of investment in plant and manufacturing in two categories:

• Manufacturing Enterprise
• Service Enterprise 

Process of MSME Registration:

• Micro, small & medium scale industry owner has to fill the online or offline form to attain the MSME registration certificate
• A person can have the individual registration also even if he wants to register more than one industry
• MSME registration can be done on the government websites by filling a single form
• The documents of identity proof, address proof are required for the registration process such as Aadhar card, industry certification, bank account details, address proof and other details
• Self-certified products are acceptable MSME registration form
• Government portal does not require any payment in the form of MSME registration fees
• In the MSME registration online process, once the complete details are filled and uploaded a registration number is provided for further reference

Advantages of Registering MSME

MSME registration certificate is beneficial in getting the bank loans at a much cheaper rate of interest i.e. 1-1.5% which allows the MSME owners to gain higher profits with appropriate investments at a lower rate of interest. 

• MSME after registration also enjoys many Tax rebates
• Credit limit of MAT (Minimum Alternate Tax) is extended to 15 years 
• The MSME owner can file the government tender specifically open for MSMEs
• MSME can easily get credit
• The cost of having Patent and industry set up is reduced due to the available rebates and concessions 
• MSME enjoys higher preference in all government certificates
• The one-time settlement fee is the biggest advantage for MSMEs

Document for MSME registration

The entity has to submit the below-mentioned documents for small scale industries registration

Business Address Proof

If the property is owned by the owner himself then the allotment letter, possession letter or tax receipt is acceptable. In case of municipal license in the name of the business or the proprietor, then no other official document will be required. The municipal license itself is sufficient. 

If the property is rented, then a NOC (No Objection Certificate) from the owner and the rent receipt has to be submitted. Also, the bills like electricity or water bill providing the authority proof of the landlord will be a valid submission.

Sale Bill & Purchase Bill

It is very important to submit the sale bill for the end product that the company will be selling. Submitting a purchase bill for raw materials that the company will purchase is mandatory for small scale industries registration.

Partnership Deed/ any other certificate

Depending on the nature of the business, partnership deed or the registration certificated is mandatory to be submitted.

The company has to submit a copy of the Memorandum, Articles of the Association etc. Along with this, the certificate authorizing the signatory of the MSME registration application also need to be submitted.

Bills & license of purchased machinery

In some areas, the business needs to attain an industrial license from the Government of India and submit a copy of the same.  All the receipts and bills of sale and purchase of machinery have to be submitted as & when required.

MSME Schemes Under the Government of India

Udyog Aadhaar Memorandum

Aadhar card number is a 12 digit unique code given to every individual. The benefit of registering under this scheme applies to get credits, loans and subsidies from the government. MSME registration online or offline, both can be done. 

Zero Defect Zero Effect

To ensure the 100% export quality of goods Government has launched this scheme. The goods that are exported from India which receives no rejection and are not sent back to India are covered under this scheme. The 100% quality assured goods enjoy some extra rebates and concessions.

Quality Management Standards & Quality technology tools

The MSME registered under this scheme can understand the quality standards better and can easily adhere to the standards to deliver quality products as per the new technologies. The government organize activities like seminars, campaigns etc. to make the businesses aware of the new technologies.

Grievance Monitoring System

Grievance means issues, therefore as the name suggests the business registered under Grievance Monitoring System can launch complaints and check the status also. 

Incubation

This scheme of Government promotes new ideas, products & designs and help the MSMEs in implementation. The MSME can also get the benefits in terms of finances as 75% to 80% can be financed from the government. 

Women Entrepreneurship

Specially designed for women who are willing to start their own business. The government assist the women and provides finance, counselling, training and other innovative techniques to help them build their business. The government also supports the women on expand their business across boundaries. 

In addition to the above listed, the Government also has many more schemes for MSME registration.

Out of a number of possible reasons why shoppers choose to shop more from the physical stores in comparison to online e-commerce websites/ shopping apps is the convenience to have a visual experience of the products. It helps shoppers with better and quick decision making. In fact, female consumers tend to purchase the items instantly when they see, touch and feel it. Be it a man/woman of any age or region, the urge to ‘See & Try First’ before buying rank highest among Indian customers and ultimately become their primary motivation for shopping in retail stores.

Other Parameters which influence their likeliness to shop at physical stores are ‘Shopping in less time’, ‘Quality’, and Guarantee. It is witnessed that Males in comparison to Females tend to invest less time in shopping, they just focus on quality and pricing and reach the billing counter in very less time. 

Now that we know shoppers of all gender, age spectrum, and location prefer to shop at stores, let’s understand what modifications/ improvements we must do at the retail store to give our prospective buyers a sense of contentment and ease their buying process.

Implementation of a new-age software:

We all accept the need for speed. Nothing could be better than retail software to speed up all the operations at the retail store. Irrespective of the trade you are dealing in, retail software is capable of handling all the end-to-end operations and growing your business. It’s important for small retailers to not lose sight of their business strategy and manage inventory properly to ensure that the desired product is in stock as it can make or break physical retailers and this can be of ease only if you have a Retail Pos implemented at your store. 

Integration with POS:

Long-time back, retailers used to keep electric and manual money registers to record information of offers/ schemes and discounts they are offering to their customers. But now everything is managed through a single solution i.e., electronic POS. A POS machine is situated at any place where exchange happens, in almost every retail store. It is beneficial for retailers as well as their customers. A retail pos software helps in providing a compelling in-store shopping experience to the customers as it fastens the billing process, reduces long queues and helps in making transactions with ease. Most of the retailers are not aware that Retail POS helps in managing inventory also. They have a fear that their data might be misused by the third party companies but they can rely on them. This will only ease the process of managing inventory.   

Conclusion:

Small retailers can easily compete with the big giant e-commerce companies because of the preferences Indian consumers have. With a back of business software solution providers that support SMEs & MSMEs to grow, they can do much more than they can imagine. Undoubtedly, the implementation of a Retail POS Software is a smart move for the retail industry. 

When will we become a progressed nation? When will be the apt time to say that, we are a significant part of a developed nation and we are the one who has transformed this country from a developing country to a developed nation?

I know this thought gives goosebumps and seems to be a very challenging situation but it needs our consideration. After all, we are Indians and if we don’t think of our country who else will do. The right time has come now for participation that will ensure the growth of our nation?

What about an honest participation in initiatives like ‘Make In India’?

It is undoubtedly true that SMEs are the key drivers behind the growth of a nation and as per the recent studies it is said, that the estimated count of SMEs in India comes around 42.50 million including registered & unregistered firms which is a staggering 95% of the total industrial units in India. The SME sector includes various businesses like manufacturing, infrastructure, service industry, FMCG, and IT. In lieu of initiatives like ‘Make In India’, can we support these SMEs and help them in accelerating their growth?

Let’s go through the major challenges and the lacunas which the SMEs are facing today and how Marg ERP Ltd., an Indian based inventory software and accounting software solution provider company that supports ‘Make In India’ in its truest sense has become a rescuer for them in such situations.

Lack of Technology: In today’s fast-paced world when technology is evolving day by day, every SME is required to stay updated. However, they have a fallacy that implementation of software in their business will only contribute towards increased costing and will not help them with their business processes in any way.

Marg ERP’s assistance: In order to help SMEs in India, Marg ERP has designed a customizable one-stop solution for every business needs. Their software is a complete package in itself that comprises of software packages like ERP, inventory, accounting, billing, SCM, and many more that serves the requirement of every business. More importantly, it’s a desktop based software which is easy to understand and thus it’s affordable for all.

Lack of Finance: Every rich idea should be backed up to evolve as a promising step of success, however in the present scenario this turns out to be a major challenge that SMEs are facing. Due to lack of investments or financial issues, their precious business ideas stay suppressed and do not allow them to raise funds even from banks unless they are backed by a phenomenal business tycoon.

Marg ERP’s assistance: Marg ERP provides an integrated banking solution to every customer, where SMEs using their software can avail loans from ICICI Bank at low-interest rates and with hassle-free documentation.

Lack of Direction: Most of the SMEs are started by young entrepreneurs who have a tendency to do everything on their own. They don’t want any support or guidance. They just go with the flow and forget to keep an eye on significant areas of their businesses like business processes, the financial situation of their business, market research and market analysis etc.

Marg ERP’s assistance: Marg ERP is facilitating SMEs with its customizable software which is capable of making 1000s of beneficial reports in no time for their business. These reports bring transparency in their business processes. These reports clearly show the demand for their product in market, profit & loss, and ultimately help the management in strategy & decision making for future.

Conclusion: From the shreds of evidence given above, we can conclude that Marg ERP is empowering SMEs for the last 2 decades with its innovative and advanced ERP software solution. Now is your time to take maximum benefit from it and lead your business towards success.

With the onset of GST, the country has propelled to a new height and has assured a more new & stronger economy. As India has climbed up places and has grabbed a reputable images in the world market.

Most of the accounting and inventory software company believe that a high level of ownership is important for its success and the persistence shown in the initial phase of GST onset has already started to show up its result. With time it is definitely going to bring honors to the country.

Foriegn investors have a positive mindset towards Indian market and this has reflected as an increased investment which is just double the value of foreign investment made in 2013 and 2014.

Hats off to the effort taken by the Prime Minister Mr. Narendra Modi which has carried forward the reformation in the taxation history of India which assures to unify all the indirect taxes.

To climb further in the ranking status the government needs to investment more in infrastructure building, investment in its people and strengthening of the basic economic foundation for more progress in the future.

The World Bank has acknowledged the fact that around 60 million Indians in the recent past came out of extreme poverty. The GST is a very realistic way to demonstrate that progress is being made and that the World Bank looks forward towards India for a much broader contribution in world trading business.