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TMI BlogRBI Clarification on new MSME definitionX X X X Extracts X X X X X X X X Extracts X X X X ..... RBI Clarification on new MSME definition - By: - CSLalit Rajput - FEMA - Foreign Exchange Management - Dated:- 23-6-2022 - - RBI Clarification on new MSME definition Reserve Bank of India (RBI) vide Circular No. RBI/2022-23/52 FIDD. MSME NFS.BC.No.7/06.02.31/2022-23 dated 19 th May, 2022 has issued notification related to New Definition of Micro, Small and Medium Enterprises - Cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rification . New Definitions Enterprises- (effective from 01.07.2020): Type (s) of Entity Criteria Micro enterprises where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees; Small enterprises ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; Medium enterprises where the investment in Plant and Machinery or Equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees Previous Circula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs: circulars FIDD.MSME NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020 , FIDD.MSME NFS.BC.No.4/06.02.31/2020-21 dated August 21, 2020 and FIDD.MSME NFS.BC.No.16/06.02.31/2021-22 dated February 18, 2022 , regarding revised criteria for classification of Micro, Small and Medium Enterprises. RBI clarifications: It has been clarified by the RBI that: the existing En ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; and the validity of documents obtained in terms of O.M. No.12(4)/ 2017-SME dated March 8, 2017 (RBI Circular FIDD.MSME NFS.BC.No.10/06.02.31/2017-18 dated July 13, 2017 Click Here ), for classification of MSM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Es upto June 30, 2020, has been extended upto June 30, 2022. Source: Click Here - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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