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No documents or proof to be uploaded under simplified registration process for MSMEs: Narayan Rane MSME Eligibility

No documents or proof to be uploaded under simplified registration process for MSMEs: Narayan Rane

IBNS | @home | 02 Dec 2021, 10:44 pm

New Delhi/IBNS: No documents or proof other than PAN and Aadhar are required for registering as a Micro, Small and Medium Enterprise (MSME) under the simplified process which is fully online, digital, paperless, and based on self-declaration, Union MSME minister Narayan Rane told Lok Sabha Thursday.

PAN, GSTIN linked details on investment and turnover of enterprises are taken automatically from relevant government databases, he said.

The turnover with respect to exports is not counted in the limits of the turnover for any category of MSMEs, Rane added.

The composite criteria of classification of MSMEs based on investment in plant and machinery or equipment and turnover of the enterprises had been notified on June, 26 last year and the new criteria became applicable to all states and union territories with effect from July 7, 2020.

The minister told the lower house of parliament that the promotion and development of enterprises is a state subject and the Centre supplements the efforts of the state governments through various schemes, programmes and policy initiatives for the growth of the MSME sector in the country uniformly including tier two and tier three cities.