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.
This post was published on July 15, 2020 6:27 pm