Question : In a historic move, the MSME Ministry on 26th June, 2020 came out with a consolidated notification. According to the notification, An enterprise can be registered just on the basis of —
(a)Aadhaar number
(b) Pan number
(c)Tan number
(d)None of the above
Answer : (a)
Related facts
Context
- In a historic move, the MSME Ministry on 26th June, 2020 came out with a consolidated notification in in the form of guidelines for classification and registration of MSMEs.
- It will be effective from 1st July, 2020.
- According to the notification, An enterprise can be registered just on the basis of Aadhaar number.
- It is a paperless exercise in true sense.
Highlights
- Udyam — The notification also says that hereafter, an MSME will be known as Udyam, as this is more closer to the word Enterprise. Accordingly, the registration process will be known Udyam Registration.
- Classification — As declared earlier, Investment in ‘Plant and Machinery or Equipment’ and ‘Turnover’ are the basic criteria for classification of MSMEs now;
- notification clarifies that Exports of goods or services or both shall be excluded while calculating the turnover of any enterprise whether Micro, Small or Medium;
- Registration — The process of registration can be done online through the portal which will be made known to the public before 1st July, 2020, the date from which this new arrangement is going to be effective.
- Facilitation — In another first, the Ministry of MSME has established a strong facilitation mechanism for the MSMEs. This process is in the form of Single Window Systems at the district level and regional level. It will help those entrepreneurs who are not able to file the Udyam Registration for any reason. At the district level, the District Industry Centres have been made responsible for facilitating the entrepreneurs. Similarly, Ministry’s recent initiative of Champions Control Rooms across the country have been made legally responsible for facilitating such Entrepreneurs in registration and even thereafter.
By — Pankaj Pandey.