📢 New clarification - Clarification on existing Entrepreneurs Memorandum (EM) Part-III Udyog Aadh

All enterprises registered till 30th June 2020, shall be re-classified in accordance with this notification.

➡ To make the re-classification proper and realistic, the latest details are to be entered by the #MSMEs.

➡The entrepreneur has to file new registration in the Udyam Registration Portal.

➡All enterprises with EM Part II and/or UAMs are advised to register themselves on the Udyam Registration well before 31.03.2021 in the Udyam Registration portal (www.udyamregistration.gov.in).

➡The expression plant and machinery or equipment of the enterprise shall have the same meaning as assigned to the plant and machinery in the Income Tax Rules, 1962 framed under the Income Tax Act, 1961 and shall include all tangible assets (other than land and building, furniture and fittings)".

➡ Online Form for Udyam Registration captures depreciated cost as on 31 st March each year of the relevant previous year. Therefore, the value of Plant arid Machinery or Equipment for all purposes of the Notification No. S.O. 2119(E) dated 26.6.2020 and for all the enterprises shall mean the Written Down Value (WDV) as at the end of the Financial Year as defined in the Income Tax Act and not the cost of acquisition or original price, which was applicable in the context of the earlier classification criteria.

Read Notification - https://msme.gov.in/sites/default/files/Clarification_on_existing_EM.pdf