Definition of Micro Small and Medium Enterprises – Retail & Wholesale Trade added
The Ministry of Micro , Small and Medium Enterprises (MSMEs) has decided to include Retail and wholesale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal.
Â
However, benefits to Retail and Wholesale trade MSMEs are to be restricted to Priority Sector Lending only.
Â
Accordingly, the list of eligible additional activities under NIC Code 45, 46 and 47 are as under:
Â
| NIC Code | Activities |
| 45 | Wholesale and retail trade and repair of motor vehicles and motorcycles |
| 46 | Wholesale trade except of motor vehicles and motorcycles |
| 47 | Retail trade except of motor vehicles and motorcycles |
Â
The Udyam Registration is allowed for above three NIC Codes and activities mentioned against them.
Â
The Enterprises having Udyog Aadhaar Memorandum (UAM) under above three NIC Codes are now allowed to migrate to Udyam Registration Portal or they can file Udyam Registration afresh.
Â
Download Ministry’s order Click Here >>
Â
- AO is under an obligation to assign reasons for rejecting explanation of the assessee
- CBIC issues SoP for clearance of imported goods through Foreign Post Offices
- Sale deed executed with full knowledge of only part consideration paid, not void – SC
- No fault in serving notice to last known address when PAN data was not updated – ITAT
- Investment by firm through capital introduced by partners cannot be treated as unexplained
