Important Update on Validity of MSME Certificate
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
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