MSMEs will now be called Micro units if they have investments upto Rs 1 crore and turnover of less than Rs 5 crore. The definition earlier was on investment criteria of up to Rs 10 lakh for Service MSMEs earlier and Rs 25 lakh or manufacturing.
For an MSME to be defined as a Small unit, its investment limit has been raised from Rs 5 crore to Rs 10 crore with a turnover of less than 50 crore. This applies to all MSMEs inc ..
Enterprises with investments up to Rs 20 crore with a turnover of less than Rs 100 crore will now be called Medium units. Earlier, the investment limit for Medium units was up to Rs 10 crore and Service enterprises up to Rs 5 crore.
The entity has to submit documents like business address proof, copies of purchase and sale bill, and licenses from regulatory bodies.
A. Yes. For registration under the UDYAM REGISTRATION, aadhaar card is compulsory. In case an applicant is other than the proprietor, the Aadhar card of the partner and the director will be required.
Yes, an existing and new business can apply for Udyam registration. Provided the existing unit is functioning and meets the threshold limits for registration.
There is no expiry of the Udyam Registration Certificate. As long as the entity is ethical and financially healthy there will be no expiry of the certificate.
No. Udyam Registration covers only manufacturing and service industries. Trading companies are not covered by the scheme. Udyam Registration is to support startups with subsidies and benefits, trading companies are just like middlemen, a link between manufacturer and customer. Hence not covered under the scheme.
No. The Udyam Registration certificate is for a single entity irrespective of multiple branches or plants. However, information about multiple branches or plants must be furnished.
Ministry of Micro, Small and Medium Enterprises (MSME) has clarified as per notification S.O 2576 (E) dated 18.09.2015 and subsequent notification no S.O 85(E) dated 10.1.2017, activities that would be specifically not included in the manufacturing or production of commodities or rendering of services as per Section 7 of the said Act.