The Ministry of Micro, Small and Medium Enterprises in October 2006 enacted Micro, Small and Medium Enterprises Development Act 2006. Under the Act, Micro, Small and Medium Enterprises are classified as under:
1st July 2020 onwards following Definition has been given by MSME Ministry for #UDYAM REGISTRATION.
Earlier, The Small and Medium enterprises as classified above, are required to file Entrepreneurs Memorandum (EM) Part-I to District Industries Centre for starting an industrial project. On completion of the project, the entrepreneur concerned is required to file Entrepreneurs Memorandum (EM) Part-II. Since 18th September, 2015, the Central Government specifies that every Micro, Small and Medium enterprise shall file Udyog Aadhaar Memorandum (UAM).
Now, New registration of Any Manufacturing or service enterprise has to be registered under MSME Udyog Aadhar. SSI part 1 & 2 has been abolished since 2015.
There is no where relation with Turnover of Enterprise.
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