Turnover Threshold Reduced for TReDS in Union Budget 2024
28/08/2024 Financial & Legal Services
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Description
The TReDS Budget 2024 introduces key reforms for MSMEs, including a reduced turnover threshold for mandatory onboarding on the TReDS platform from ₹500 crore to ₹250 crore. This change expands participation in the Trade Receivables Discounting System (TReDS), allowing an estimated 7,000 additional companies and 22 PSUs to benefit from TReDS bill discounting. The revised threshold in the TReDS Budget enhances MSME liquidity, streamlines cash flow management, and fosters a more inclusive financial environment, aligning with the government’s broader goals to support the operational flexibility and growth of MSME buyers.
To know more visit: https://www.m1xchange.com/thought-xchange/turnover-threshold-reduced-for-treds/
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