THE NEW CLASSIFICATION OF MSME’S AND PROCEDURE FOR REGISTRATION – UDYAM REGISTRATION (EFFECTIVE FROM 1ST JULY 2020)

By | September 4, 2020

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 Enterprises Development Act, 2006, (27 of 2006), hereinafter referred to as the said Act, and in supersession of the notifications of the Government of India in the Ministry of Micro, Small and Medium Enterprises number S.O.1702 (E ), dated the 1st June 2020, S.O. 2052 (E), dated the 30th June 2017, S.O.3322(E ), dated the 1st November 2013 and S.O.1722 (E), dated the 5th October, 2006, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (ii), except as respects things done or omitted to be done before such supersession, the Central Government, after obtaining the recommendations of the Advisory Committee in this behalf, thereby notifies certain criteria for classifying the enterprises as micro, small and medium enterprises and specifies the form and procedure for filing the memorandum, Hereafter in this notification to be known as “Udyam Registration” which will be effective from 1st July 2020.

Please read the originial post here: https://msmestory.com/msme-new-classification-udyam-registration-effective-from-1st-july-2020/

Author: MSME Story

"INDIA’S FIRST DEDICATED PORTAL TO PUBLISH INSPIRING STORIES OF MSMEs. MSME SECTOR IS THE SECOND LARGEST EMPLOYMENT GENERATING SECTOR AFTER AGRICULTURE. IT PROVIDES EMPLOYMENT TO AROUND 120 MILLION+ PERSONS IN INDIA. The idea behind MSMEStory.com was to empower MSMEs with a dedicated portal where they can find inspiring stories of fellow MSME’s. A portal where they can find all growth hacks, information of government schemes, changes in modern-day theory, etc Varun Surana (Founder) consults many businesses and he found that every MSME has a story to tell and he came with an idea that Team Brand Chanakya (which is unit of our parent company: KCS Edutech Pvt Ltd) should work on a portal where MSME’s and budding entrepreneurs can learn from the experience of others, industry and subject matter experts Mission: To Impact Life Of 1 Million+ MSME Units Vision: Empowering MSMEs with solutions to various challenges in the form of the story."