Investment limits of MSMEs increased from July 1
News

Investment limits of MSMEs increased from July 1

July 15, 2020

Udyam registration is mandatory

Mysore/Mysuru: As the Ministry of Micro, Small & Medium Enterprises (MSMEs), Government of India, has changed the classification of MSME with effect from July 1, 2020, all MSMEs are now required to apply online to get the new UDYOG Registration Number.

The MSME classification till June 30, 2020 was based on investment on plant and machinery and entrepreneurs were getting multiple MSME registration numbers multiple times based on one Aadhaar number. Now, all enterprises based on one Aadhaar number, GST number and PAN number shall be collectively treated as one enterprise.

According to the new classification, enterprises shall be classified as micro, small or medium enterprises on the basis of the investment of one plant and machinery and turnover of the unit.

Micro Enterprise: Investment for plant, machinery or equipment should not exceed Rs. 1 crore and the turnover should not exceed Rs. 5 crore (Rs. 25 lakh earlier).

Small Enterprise: Investment should not exceed Rs. 10 crore and turnover should not exceed Rs. 50 crore (Rs. 5  crore earlier).

Medium Enterprise: The investment for plant, machinery or equipment should not exceed Rs. 50 crore and the turnover should not exceed Rs. 250 crore (Rs. 10 crore earlier).

The MSME Council is providing the service to its members and the Council General Secretary Suresh Kumar Jain has requested the members to make use of the service.  For details, log on to www.msmemysuru.com or call Mob: 99864-44654, according to a press release.

ABOUT

Mysuru’s favorite and largest circulated English evening daily has kept the citizens of Mysuru informed and entertained since 1978. Over the past 45 years, Star of Mysore has been the newspaper that Mysureans reach for every evening to know about the happenings in Mysuru city. The newspaper has feature rich articles and dedicated pages targeted at readers across the demographic spectrum of Mysuru city. With a readership of over 2,50,000 Star of Mysore has been the best connection between it’s readers and their leaders; between advertisers and customers; between Mysuru and Mysureans.

CONTACT

Academy News Papers Private Limited, Publishers, Star of Mysore & Mysuru Mithra, 15-C, Industrial ‘A’ Layout, Bannimantap, Mysuru-570015. Phone no. – 0821 249 6520

To advertise on Star of Mysore, email us at

Online Edition: [email protected]
Print Editon: [email protected]
For News/Press Release: [email protected]