MSME Category Updation
This query is : Resolved
03 January 2025
If for a private limited company under MSME Registration it is registered as "MICRO" Category under Manufacturing activity for FY 2023-2024. Should this category be considered (MICRO) every year until it has been changed or it is mandatory for the said entity needs to update the classification every year.
Enterprise Type:
Sr Classification Year Enterprise Type Classification Date
1 2023-2024 Micro 12-Jul-23
Enterprise Type:
Sr Classification Year Enterprise Type Classification Date
1 2023-2024 Micro 12-Jul-23
Dhirajlal Rambhia
(Expert)
03 January 2025
While it is essential to monitor your enterprise's financial metrics, there is no requirement for annual updates unless there is a significant change that affects its classification under MSME guidelines. If an MSME's turnover or investment exceeds the thresholds for its current category, it should apply for reclassification.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
