Yesterday, On 6th May, The Supreme Court rejected a plea by MSMEs challenging a provision in the Income Tax Act, reinforcing the 45-day payment rule. Violating this could lead to penalties, and some MSMEs fear larger buyers bypassing them. The court’s decision emphasizes the importance of timely payments for the financial health of smaller businesses, balancing interests in the business ecosystem.
The Supreme Court of India has accepted appeals from ten startups challenging Google’s Play Store billing policy, but denied them interim protection. The startups sought relief from potential delisting, pending the court’s decision. The decision has global implications, with the tech community eagerly awaiting the outcome of the March hearing.
