Finance : Discover the crucial role of MSMEs in India's economic development, from classification to registration and benefits. Learn how MS...
Company Law : Understand Form MSME-1 filing requirements and penalties under the MSMED Act. Learn about deadlines, required information, and com...
CA, CS, CMA : Discover the essential 2023-24 Audit Manual for SMEs. Stay updated with changes in CARO 2020, Schedule III, and more. Download edi...
Finance : Explore the recent amendment to Section 43B of the Income Tax Act aimed at bolstering the financial well-being of MSMEs through ti...
Income Tax : Learn about Section 43B(h) of the Income-tax Act, 1961, allowing deductions for MSME payments only on actual payment basis. Unders...
Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...
Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...
Corporate Law : This webinar titled “How MSMEs Recover Payment without Court” provides valuable insights and strategies for recovering...
Corporate Law : Introduction: On March 15, 2024, a significant milestone was achieved in the formalization journey of Micro, Small, and Medium Ent...
Corporate Law : Discover how the Udyam Assist Platform, launched by the Ministry of MSME, facilitates registration for Informal Micro Enterprises,...
Corporate Law : Supreme Court dismisses plea under Article 32 against 45-day payment rule. Detailed analysis of the judgment and implications for ...
Corporate Law : Explore Allahabad High Court's judgment on predeposit under Section 19 of MSMED Act in the case of Docket Care Systems Vs. Hariwil...
Corporate Law : Mankind Life Sciences Private Limited Vs State of Himachal Pradesh & Anr (Himachal Pradesh High Court) The legal landscape sur...
Corporate Law : The petitioner filed an application for stay of an arbitral award passed by the West Bengal State Micro Small Enterprises Facilita...
Income Tax : Delhi High Court held that in respect of Special Audit remuneration under section 142(2D) of the Income Tax Act invocation of prov...
Company Law : Read about the Specified Companies Order amendment under Companies Act 2013 to enhance reporting on payments to micro and small en...
Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...
Corporate Law : Discover the Air Cooler and Air Filters Quality Control Order 2023 by the Ministry of Commerce and Industry. Learn about standards...
Corporate Law : Explore the Ministry of Commerce and Industrys latest order on Potable Water Bottles (Quality Control) 2024 in New Delhi. Learn ab...
Corporate Law : Explore the latest Ministry of Commerce and Industry Order in New Delhi, setting quality standards for insulated flasks, bottles, ...
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 MEDIUM ENTERPRISES […]
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 based on investment […]
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 crores, available in […]
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 registration is the new way of MSME registration.
It is important to note that the industry was waiting for definition change in MSME for quite a long time. As there was fear among MSME that if they grow in terms of number, they might lose the title of being MSME and lose benefits of Government provided for MSME.
Relevant Date: 26th June 2020 Introduced by: Ministry of MSME dated 26th June 2020 Effective date: 1st July 2020 What is new? 1. Classification of enterprises: An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:- Type of Enterprises Investment in P&M Turnover Micro Enterprises […]
MSME Registration, new and existing, through Udyam Registration Portal, w.e.f. 01.07.2020, as per notification dated 26.06.2020 The Ministry of micro, small and medium enterprises vide its notification dated 26th June, 2020 has notified certain criteria for classifying the enterprise as micro, small and medium enterprises and specified the form and procedure for filing the memorandum, […]
WRITE UP ON MSME CONSEQUENT TO NOTIFICATION NO.S.O.2119(E) DATED 26TH JUNE 2020 The Central Government issued Notification No.S.O.2119(E) dated 26.6.2020 notified certain criteria for classifying the enterprises as micro, small and medium enterprises and specifies form and procedure for filing Memorandum (“Udyam Registration”), with effect from 1st July 2020. CLASSIFICATION OF ENTERPRISES: An enterprise shall […]
Govt notifies vide Notification No. S.O. 2119(E) dated 26.06.2020 certain criteria for classifying the enterprises as micro small and medium enterprises (MSME), MSME registration process for New and Existing Enterprises, Manner of calculation of investment in plant & machinery and turnover for MSME classification, Updation of information and transition period in classification and Facilitation and […]
Ministry of Micro, Small and Medium Enterprises (MSMEs) launches another funding scheme to help the distressed MSME sector The Scheme will provide Rs. 20,000 crore of guarantee cover to two lakh MSMEs. This is a sub-debt facility to the promoters of those operational MSMEs which are distressed or NPA
