- July 9, 2021
- Posted by: admin
- Category: Latest update
Wholesale & Retail Trades are now tagged as MSME
Wholesale and Retail trade activities (except few exceptions) earlier were not classified as MSME.
Ministry of MSME has included Wholesale and Retail Trades under MSME vide this notification No. 5/2(2)/2021-E/P & G/Policy (E-19025) dated 02.07.2021, whereby traders are allowed to get them registered as MSME on Udyam Registration portal.
Wholesale and Retail trade activities are covered under 2 digits (broad head) NIC codes i.e. 45, 46 & 47.
|45||Wholesale and retail trade and repair of motor vehicle and motorcycles|
|46||Wholesale trade except of motor vehicles and motor cycles|
|47||Retail Trade Except of Motor Vehicles and motor cycles|
The benefits to Wholesale and Retail Trade MSMEs are to be restricted only to Priority Sector Lending by banks and financial institutions as per RBI guidelines. Therefore, these activities are not eligible for other benefits.
The Enterprises having Udyog Aadhaar Memorandum (UAM) under above three NIC Codes are now allowed to migrate to Udyam Registration Portal or they can file Udyam Registration afresh.
There is no government fee for obtaining Udyam Registration.
The government notification is given below