MSMED Act articles

MSME Classifications & Registration Requirements w.e.f. 01.07.2020

Ministry of Micro, Small and Medium Enterprises have come out with notification no. [F. No. 21(5)/2019-P&G/Policy (Pt-IV)] dated 26th June 2020, wherein following new criteria of classification of enterprises and new registration procedures under MSMED Act,2006:- Classification Micro Enterprises Investment in Plant & Machinery or ...

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Posted Under: Corporate Law |

Udyam Registration In India

A micro, small and medium enterprise (MSME) will now be known as Udyam as per the notification issued by the Ministry of MSME on 26 June 2020. The ministry has also come up with detailed criteria for the classification of MSMEs and the procedure for registration and the arrangements made by the ministry for facilitation in this [&hellip...

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Posted Under: Corporate Law |

Practical Aspects of Udyam Registration W.E.F. 01.07.2020

Following the Atmanirbhar scheme and for facilitating ease of doing business, Union Ministry of Micro, Small and Medium Enterprises (MSME), vide its Notification Dated 26.06.2020, notifies the new definition of MSME and new registration process known as – ‘Udyam Registration’ In that context, a new portal is introduced k...

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Posted Under: Corporate Law |

18 Benefits Under MSME Registration

MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes, and incentives promote MSMEs through the MSMED Act. To avail of the benefits under the MSMED Act from the Centr...

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Posted Under: Corporate Law |

Disclosure requirements regarding MSME dues under MSMED Act, 2006

The MSME Development Act, 2006 (‘MSMED Act’) strengthens the provisions relating to delayed payments to the Micro, Small and Medium Enterprises (‘MSME’) by specifying the maximum credit period and higher penal interest if delayed beyond that period. If there is a delay in payment, companies will have to mention the reason for such...

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Posted Under: Corporate Law |

MSME legal backdrops series Part – II

In the previous article [MSME Legal backdrops Series – Part I], we have gained knowledge about what is MSME, difference between terms MSE and SSI, legal background of MSME, MSMED Act, 2006, purpose of MSMED Act etc. In this article, we will discuss about some of the important provisions of MSMED Act, 2006 along with […]...

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Posted Under: Corporate Law |

All About MSME Udyam Registration Procedure & Classification

Ministry of Finance, Government of India, with a view to provide several benefits and to create large number of employment opportunities within India, announced various relief measures especially for the MSMEs (vis-à-vis Micro, Small & Medium Enterprises). To achieve this dream of creating lot more employment in India, it was felt ne...

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Posted Under: Corporate Law |

New Process of MSME Registration- Udyam Registration

Ministry of MSME has revised the MSME registration process w.e.f 01st July 2020. It is now known as ‘UDYAM REGISTRATION’. The Term Udyam is equivalent to Enterprises in English. Hence all the Micro, Small or Medium Enterprises has to obtain UDAYM Registration to avail the benefits of various schemes run by the govt. for the [&...

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Posted Under: Corporate Law |

MSME legal backdrops series Part – I

To make the professionals, businessman and entrepreneurs to have an introduction cum information about the legal provisions related to MSME, a new series is being launched in which all the relevant legal provisions and rules will be discussed along with legal references. Efforts have been made to keep the language very simple so that even...

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Posted Under: Corporate Law |

New MSME Udyam Registration (Applicable from 01.07.2020)

Introduction: > The Central Government, after obtaining the recommendations of the Advisory Committee in this behalf, notified following: > Certain criteria for classifying the enterprises as micro, small and medium enterprises > Specifies the form and procedure for filing the memorandum (Udyam Registration), w.e.f 1st day of Ju...

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Posted Under: Corporate Law |

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