MSMED Act articles

MSME – Analysis on Latest Amendments

MSME stands for Micro, Small and Medium enterprises. MSMEs has emerged as the ‘backbone of the economy’. Ministry of MSME urge to promote growth and development of MSMEs so as to create new enterprises with more employment opportunities. They urge to enhance manufacturing base in the country by improving performance of MSMEs through d...

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Posted Under: Corporate Law |

MSME Udyam Registration Number from 01/07/2020

After the spread of pandemic ‘COVID-19’, GOI has announced many relief packages for MSME sector to boost industry as well as economy of the country. Government initiatives include ease of doing business, Digital India, start-ups, easy loans , Make in India, subsidies, moratorium for loans, reduced rate of interest, simple tax complian...

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Posted Under: Corporate Law |

Reclassification of MSME Enterprises & Udyam Registration

All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and turnover and investment figures for all such entities shall be seen together and only the aggregate values will be considered for deciding the category as a micro, s...

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Posted Under: Corporate Law |

MSME – What is New from 1st July, 2020

MSME – (MICRO, SMALL AND MEDIUM ENTERPRISES)- WHAT IS NEW FROM 1st JULY, 2020 The Government of India is committed to make India totally self-reliant i.e. ‘Atmnirbhar Bharat’. The matter of changing the definition of MSMEs upwardly was under process, finally it got notified vide notification S.O. 2119(E) dated 26th June 2020...

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Posted Under: Corporate Law |

Important MSME Revised Guidelines and Threshold limit

The Government of India has issued notification on June 26, 2020 giving revised guidelines and limit for classification of enterprises among Micro, Small and Medium. The synopsis for the said important notification is as under: 1. The new guidelines and limit are effective from July 01, 2020. 2. Revised thresholds for classification among...

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Posted Under: Corporate Law |

Decoding Notification of Ministry of MSME dated June 26, 2020

Decoding the Notification issued by Ministry of Micro Small and Medium Enterprise on June 26, 2020 The Finance Minister had made announcement on May 13, 2020 regarding proposed changes to be made in definition of Micro Small and Medium Enterprise (MSME) and had mentioned that turnover will also be included as one of the criteria […...

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Posted Under: Corporate Law |

New Regime For MSME’s

The government recently revised the definition of the MSME through the notification dated 1st June, 2020 which shall come into effect from 1st July, 2020. However, in the supersession of this notification and other notifications issued on 30th June, 2017, 1st November, 2013 and 5th October, 2006 respectively, Ministry of MICRO, SMALL AND ...

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Posted Under: Corporate Law |

Revised Guidelines on Classification of MSMEs & Registration under Udyam

The Central Govt. has notified revised method of classification of micro, small and medium enterprises w.e.f. 1st July 2020. Those who could not find time to read entire notification or could not get any point clearly, may go through the following gist with examples for simple but clear understanding. 1. The classification of entities b...

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Posted Under: Corporate Law |

Benefits of MSME Registration Under MSME

In continuation with the earlier article where registration process under MSME Act was elaborated, this article covers the benefits of being an entity registered under MSME, Act.  Read-Registration under MSME Act ♦ Benefits of MSME registration Collateral Free Automated Loan A scheme for in principal approval for business loan up to 5 ...

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Posted Under: Corporate Law |

Registration under MSME Act

What’s Udyog Aadhaar? - It is an identification system, similar to Aadhaar, but specifically for businesses. Earlier Udyog Aadhaar Registration was an online method by which an MSME can get a 12-digit Udyog Aadhaar Number and then go for MSME registration. Therefore, one can say that both are different, but now Udyog Aadhaar re...

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Posted Under: Corporate Law |

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