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    Crypto, NFT and blockchain are all that everybody is talking about. But how can MSMEs make use and profit off of this new era of digital currency? To answer this question and several more, Business Standard had organised a panel discussion under the Smart Business event series with the World Trade Centre last Thursday on ‘The role of blockchain and digital currencies in strengthening MSMEs'. At the event, Ashish Anand, founder of WHRRL, said “Crypto and blockchain will see a convergence of the real and crypto worlds with the help of solutions that are bridging the gap between these two worlds. Decentralised finance for the real world will be one such solution. This also has the potential to bridge the Rs. 30 lac Cr. credit gap that Indian MSME sector faces.” Gaurav Somvanshi, CEO and Co-founder, EmerTech Innovations Pvt Ltd, said “Blockchain technology is trying to solve, to bring trust in our systems instead of inpiduals or organisations, has many wide-ranging effects tha...

In a major move, Finance Minister,  Nirmala Sitharaman  made several announcements for the corporate sector. The minister announced sharp cuts in corporation tax among a series of announcements. Sitharaman said the total revenue forgone on account of today's measures would be Rs 1.45 trillion per year. Here are the highlights 1. All domestic companies to be allowed to pay corporation tax at the rate of 22% (effective rate 25.17% including cess and surcharge). This would be subject to the condition that these companies do not avail of any tax incentives or exemptions. Moreover, no Minimum Alternative Tax (MAT) would be imposed on these companies. 2. Any new domestic manufacturing company, incorporated on or after October 1, 2019, will be allowed to pay corporation tax at the rate of 15% (effective rate 17.01%). No MAT will be imposed on these companies either. This will be subject to the condition that the company does not avail of any tax incentives or exemptions and ...