MSMEs shall continue to avail non-tax benefits for 3 yrs if there is any upward change in investment

Notification No. S.O. 4926(E), Dated, 18-10-2022

The Govt. has made an amendment to Notification S.O. 2119(E), dated the 26th June 2020. Now MSMEs shall continue to avail of all non-tax benefits of the category (micro or small or medium) it was in before the re-classification for a period of 3 years from the date of an upward change in terms of investment in plant and machinery or equipment or turnover or both. Earlier, In case of an upward change in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise will maintain its prevailing status till the expiry of 1 year from the close of the year of registration.

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