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MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES NOTIFICATION New Delhi, the 26th June, 2020 S.O. 2119(E).In exercise of the powers conferred by sub-section (1) read with sub-section (9) of section 7 and sub-section (2) read with sub-section (3) of section 8, of the Micro, Small and Medium Enter
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FAQ :
Micro enterprises have investment up to ₹1 crore and turnover up to ₹5 crore. Small enterprises have investment up to ₹10 crore and turnover up to ₹50 crore. Medium enterprises have investment up to ₹50 crore and turnover up to ₹250 crore.
The new criteria and the Udyam Registration process come into effect from the 1st of July, 2020.
Udyam Registration is the new process for classifying and registering micro, small, and medium enterprises. It's an online self-declaration system with no requirement to upload documents, and it assigns a permanent identity number.
Investment calculation is linked to previous Income Tax Returns. For new enterprises without prior ITRs, it's based on self-declaration until the first ITR is filed. The purchase value (excluding GST) is considered.
Exports of goods or services are excluded when calculating turnover. Turnover figures are linked to Income Tax or GST Acts. For enterprises without a PAN, self-declaration is accepted until March 31, 2021, after which PAN and GSTIN become mandatory.
Yes, all existing enterprises registered under EM-Part-II or UAM must re-register on the Udyam Registration portal on or after July 1, 2020. Existing registrations are valid only until March 31, 2021.
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