Important Update on Validity of MSME Certificate

by Estartup India Grow Business With Us

The Government of India send a notification for Micro Small & Medium Enterprises(MSME) concerning all businesses has to obtain GST registration and file Income tax return on or before 31st March 2021 to maintain the validity of the MSME Certificate. According to the government's revised guidelines, MSME is now placed under the name of Udyam registration. For which, the following documents are now necessary for the registration of MSME. There is various classification of MSME:-

Classification of MSME

An enterprise shall be classified as a micro, small, or medium enterprise on the basis of the following criteria, namely:-

1. Micro-enterprise: If the investment in plant and machinery or equipment does not cross ₹ 1 crore and turnover does not cross ₹ 5 crores;

2. Small enterprise: If the investment in plant and machinery or equipment does not cross ₹ 10 crores and turnover does not cross ₹ 50 crores; and

3. Medium enterprise: If the investment in plant and machinery or equipment does not cross ₹ 50 crores and turnover does not cross ₹ 250 crores.

Documents Needed for Udyam Registration

The applicant should have Pan Card
The candidate should have Aadhar Card
Complete Postal Address with District and PIN
The applicant must provide bank Account Details

Now, any person will establish micro, small or medium enterprises (MSMEs), must obtain the Udyam Registration online. This is done on the Udyam Registration portal.

The Udyam Registration shall be based on self-declaration.

There’s no requirement to upload documents, papers, certificates, or proof.

Only relevant information about the scope of business shall be required.

However, the calculation of investment in plant and machinery or equipment shall be done by linking of previous years' ITR filing.

Know in detail about new eligibility and guidelines for Udyam Registration