MSME i.e. Micro, medium and small enterprise wherein till date only manufacturing and service industry were allowed to register.
Thus, till now wholesale and retail trader were not allowed to register under MSME as the intention for MSME was to provide benefit to manufacturing and service industry which invest more in machine and labour.
Today, Minister of MSME and Road Transport and Highways Shri Nitin Gadkari today announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. In a Tweet he said under the leadership of PM Shri Narendra Modi Ji, we are committed to strengthening of MSME and make them engines for economic growth. Shri Gadkari said the revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. He said Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and wholesale trade will also get benefit of priority sector lending under RBI guidelines.
With the revised guidelines the Retail and wholesale trades will be now be allowed to register on Udyam Registration Portal.
To read more CLICK HERE.
To read more about UDYAM registration CLICK HERE.
You can book phone consultation/ assistance online with expert as mentioned below:
To book ITR filing with experts CLICK ME.
To book phone consultation with experts for Income tax CLICK ME.
To book consultation for Faceless Assessment with experts CLICK ME.
To book phone consultation with experts for GST CLICK ME.
To book general phone consultation with expert CLICK ME.