MSME Ready Reckoner

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The MSME Ready Reckoner is a comprehensive reference book for understanding Indian MSME laws, offering insights into MSMEs’ classifications, benefits, legal structures, and investment processes. This 4th edition, updated by the Finance Act 2023, covers new definitions, investment and turnover computation, Udyam registration, promotional schemes, and detailed guides for micro, small, and medium enterprises.



Micro Small & Medium Enterprises (‘MSME’) Ready Reckoner is a comprehensive book on laws governing MSMEs in India. It analyses all the provisions of the MSME Act, 2006 in an easy-to-read FAQ format, along with relevant Circulars & Notifications, illustrations, case studies, etc.

This book is a handy referencer for MSMEs and professionals associated with the MSME sector.

This book is divided into eight divisions, namely:

MSMEs – Definition, Classification and Registration
Benefits to Registered MSMEs
Benefits to small businesses, whether registered MSMEs or not
Legal forms of organisation MSME can adopt and pros & cons of choice of various legal forms
Micro Enterprises
Small Enterprises
Medium Enterprises
The Present Publication is the 4th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann’s Editorial Board, with the following noteworthy features:

[New Definitions & Classification of MSMEs] into Micro, Small and Medium enterprises based on composite criteria of investment and turnover
[Investment] How to Compute Investment
[Turnover] How to Compute Turnover
[Udyam Registration] How to file Udyam Registration
[Udyam Assist Registration] for informal micro enterprises
[Promotion of Timely Payments by Buyers to Micro/Small Enterprises] u/s 43B(h) of the Income-tax Act, 1961 is included in this book
[Vivad Se Vishwas I] scheme for providing reliefs to MSMEs from performance/bid security for non-performance of government contracts during COVID-19
[Central Government Schemes] for MSMEs
[Pre-Pack Insolvency Resolution Process] for debt-stressed corporate MSMEs
[Time-Bound Recovery of Dues by Micro and Small Enterprises through Samadhan Portal] including the recent Supreme Court decision interpreting Chapter V of the MSMED Act
[Online Loan Approval in 59 Minutes] for MSMEs
[MUDRA Scheme] for funding the Non-corporate Small Business Sector (NCSBS)
[TreDS] Trade Receivables Discounting System
[Ready Reckoner(s)] (subject-wise practical guide) for the following:
Micro Enterprises
Small Enterprises
Medium Enterprises
[MSME Reckoner on Turnover-Limit Linked Compliances/Exemptions] for the following:
Private Company
Limited Liability Partnerships
Tradition/General Partnership Firms
Public Company
The detailed contents of this book are as follows:

MSMEs – Definition, Classification and Registration
What is the new definition of ‘Micro Enterprises’, ‘Small Enterprises’ and ‘Medium Enterprises’?
How to compute the investment?
How to compute turnover
Classification of MSMEs based on new composite criteria (with illustrations and case studies)
Udyam Registration – How to file Udyam Registration
MSME Formalisation – Udyam Assist Portal
How and when MSMEs will be reclassified
What is ‘manufacturing’ or ‘production’ MSME, and what is ‘service MSME’?
Benefits to Registered MSMEs
Benefits from MSME Fund
What are the benefits available to registered MSMEs under the MSMED Act in respect of protection/remedies against delayed payments by buyers
Factoring & TReDS – Trade Receivables Discounting System
What are other benefits available to registered MSMEs under Central Schemes?
Relief for MSMEs from forfeiture of bid/performance security for non-performance of contract during the COVID period
Vivad se Vishwas II – Settling Contractual Disputes
Entity Digital Locker
Skill India Digital Platform
Pre-packaged insolvency resolution process for MSMEs who are corporate (i.e., Companies/LLPs)
Benefits to Small Businesses, whether Registered MSMEs or not
Benefits available to Small Businesses under the Income-tax Act, 1961
Exemption from compulsory tax audit to micro-enterprises
Low tax rate without exemption regime applicable to companies irrespective of size
Concessional rate of tax for SME companies without foregoing any exemptions
Relaxations in compliance to small companies under the Companies Act, 2013
MUDRA Scheme – Funding the Non-Corporate Small Business Sector (NCSBS)
PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi): A Special Micro-Credit facility for Street Vendors
59 Minutes online loan approval for MSMEs
Legal Forms of Organisation MSMEs Can Adopt and Pros and Cons of Choice of Various Legal Forms
What legal forms of organisations can MSMEs adopt
Sole proprietorship
Traditional/General Partnership/Partnership Firm
Limited Liability Partnership (LLP)
Hindu Undivided Family
Micro Enterprises
Definition of micro-enterprises
Legal forms of organisation that are suitable for micro-enterprises
Registration as a micro-enterprise
Small Enterprises
Definition of small enterprises
Legal forms of organisation that are suitable for small enterprises
Registration as a small enterprise
Medium Enterprises
Definition of medium enterprises
Legal forms of organisation that are suitable for medium enterprises
Registration as a medium enterprise
Definition of Start-up
Benefits to DPIIT-recognised start-ups under Start-up India Scheme