Question
Under the International Cooperation (IC) Scheme, what is
the upper limit of reimbursement for economy class airfare provided to MSME entrepreneurs participating in approved international events?Solution
The International Cooperation Scheme under the Ministry of MSME promotes the participation of Indian MSMEs in international trade fairs, exhibitions, and delegations to enhance global competitiveness. • The scheme reimburses the cost of economy class airfare, but with an upper ceiling. • The maximum limit is ₹1.5 lakh per participant, or the actual airfare paid — whichever is lower. • This support encourages MSME entrepreneurs to explore international markets without bearing the full financial burden.
The term 'Days of Grace' in relation to a bill of exchange refers to:
A bill of exchange drawn on 15th March for 2 months will mature on:
When a bill is discounted with the bank, the party that bears the loss if the bill is dishonored at maturity is the:
Noting charges are recoverable from:
Which of the following is an example of transaction in money under GST laws
Noting charges are ultimately borne by the:
Accounts relating to income, revenue, gain expenses, and losses are termed as:
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the op...
Mr. A draws a bill of exchange for ₹1,00,000 on Mr. B for 90 days. Mr. B accepts it and it is discounted by Mr. A from the bank. On maturity, Mr. B fa...
A bill of ₹50,000 discounted @12% p.a. for 3 months. Bank discount = ?
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