MSME Category Updation

This query is : Resolved

SIDDHARTH MAHESHKUMAR SHAH (Querist)
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03 January 2025 If for a private limited company under MSME Registration it is registered as "MICRO" Category under Manufacturing activity for FY 2023-2024. Should this category be considered (MICRO) every year until it has been changed or it is mandatory for the said entity needs to update the classification every year.

Enterprise Type:
Sr Classification Year Enterprise Type Classification Date
1 2023-2024 Micro 12-Jul-23

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 January 2025 While it is essential to monitor your enterprise's financial metrics, there is no requirement for annual updates unless there is a significant change that affects its classification under MSME guidelines. If an MSME's turnover or investment exceeds the thresholds for its current category, it should apply for reclassification.