Key decisions taken during Advisory Committee Meeting under MSMED Act, 2006 on Draft UAM

New Delhi, May 15: The Ministry of MSME has decided that in case of a company or a limited liability partnership or a cooperative society or society or a trust, the companies with turnover above Rs.20 lakh per annum should specify the PAN of the organisation along with Aadhaar Number in the Udyog Aadhaar Memorandum (UAM).

This will be implemented after 2 months of GST coming into operation.

The decision was taken by the Ministry of MSME during a recently conducted Advisory Committee Meeting under the MSMED Act, 2006 on the Draft Udyog Aadhaar Memorandum (UAM).

The meeting was conducted under the chairmanship of Secretary, MoMSME, KK Jalan.

The other issues that were taken up in the meeting were - Draft Udyog Aadhaar Memorandum Notification and to make it compliant with Aadhaar Act, 2016; Issues raised by Departmental of Legal Affairs on the draft notification; Proposal of All India Council for Technical Education(AICTE); and Definition of MSME.

The Committee decided that the draft notification on UAM stands approved.

Further, the Advisory Committee decided that CA Certificate on capital investment shall be mandated for public tender participation.

As suggested by AICTE, there could be a Ministry sponsored MSME specific M. Tech. Course which will focus mainly on practical shop-floor training, the business model of which can be worked out among the MSME Associations present in the meeting. In the course curriculum, 20-30 specific activities can be listed after due deliberations.

On definition of MSMEs, industry bodies FISME and India SME Forum conveyed that employment and turnover should be parameters for defining MSME units along with investment in plant & machinery.

The other members of the Advisory Committee included – Secretary, MoMSME; Secretary, Ministry of Labour and Employment, Presidents of FISME, SME Forum, Laghu Udyog Bharti and more.