The Finance Act, 2023 introduced the MSME 45-day payment rule under Section 43B(h) of the Income Tax Act. Effective from April 1, 2024, applicable from Assessment Year (AY) 2024-25 onwards.This MSME ...

The decision does not affect tariffs imposed via other statutes, such as the steel, aluminum, and automobile tariffs imposed via Section 232 or other tariffs on China imposed via Section 301.