The Reserve Bank of India (RBI) has extended the validity of Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) from June 30, 2020 to March 31, 2021.
“The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till March 31, 2021. Further, all enterprises registered till June 30, 2020, shall file new registration in the Udyam Registration Portal well before March 31, 2021,” RBI said in its circular dated August 21.
“Udyam Registration Certificate’ issued on self-declaration basis for enterprises exempted from filing GSTR and / or ITR returns will be valid for the time being, upto March 31, 2021,” it added.
Taking micro-blogging site twitter, the ministry of MSME said, ”udyamregistration.gov.in is up and registration continues. On our advice, RBI issued a Circular for validity of UAM/EM-II till 31.03.2021. To confirm our paperless approach, the need of document for classification purpose has been dispensed. Thanks @RBI #msmetochampions.”
The apex bank has also issued a clarification to the new definition of Micro, Small and Medium Enterprises (MSMEs) based on the representations from IBA and banks regarding the applicability of certain aspects on new criteria for classifying the enterprises as micro, small and medium enterprises.
”Classification and re-classification of MSMEs is the statutory responsibility of the GoI, Ministry of MSME, as per the provisions of the MSMED Act, 2006,” it clarified.
”All the enterprises are required to register online and obtain ‘Udyam Registration Certificate’ and All lenders may, therefore, obtain ‘Udyam Registration Certificate ’from the entrepreneurs,” the circular read further.