anita (trainee) (514 Points)
18 May 2022Now that the classification of medium and small is on the basis of turnover, is there a difference in the rights of a small and medium company ?
If a company crosses threshold of 50 crores will it become a medium enterprise automatically or do they need to update on udyam ?
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5150 Points)
Replied 18 May 2022
The M/o MSME is having two Divisions called Small & Medium Enterprises (SME) Division and Agro & Rural Industry (ARI) Division. The SME Division is allocated the work, inter- alia, of administration, vigilance and administrative supervision of the National Small Industries Corporation (NSIC) Ltd., a public sector enterprise and the three autonomous national level entrepreneurship development/training originations. The Division is also responsible for implementation of the schemes relating to Performance and Credit Rating and Assistance to Training Institution, among others. SME Division is also responsible for preparation and monitoring of Results- Framework Document (RFD) as introduced in 2009 by the Cabinet Secretariat under Performance Monitoring and Evaluation System (PMES). The ARI Division looks after the administration of two statutory bodies viz. the Khadi and Village Industries Commission (KVIC), Coir Board and a newly created organization called Mahatma Gandhi Institute for Rural Industrialization (MGIRI). It also supervises the implementation of the Prime Minister's Employment Generation Programme (PMEGP).
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 19 May 2022
Chirag
(Professional)
(1979 Points)
Replied 20 May 2022
CAclubindia
