Page 79 - ELT_1st July 2020_Vol 373_Part 1

2020 ] NOTIFICATIONS N15

(8) Whoever intentionally misrepresents or attempts to suppress the
self-declared facts and figures appearing in the Udyam Registration or updation
process shall be liable to such penalty as specified under section 27 of the Act.
7. Registration of existing enterprises. - (1) All existing enterprises
registered under EM-Part-II or UAM shall register again on the Udyam Registra-
tion portal on or after the 1st day of July, 2020.
(2) All enterprises registered till 30th June, 2020, shall be re-classified in
accordance with this notification.
(3) The existing enterprises registered prior to 30th June, 2020, shall
continue to be valid only for a period up to the 31st day of March, 2021.
(4) An enterprise registered with any other organisation under the
Ministry of Micro, Small and Medium Enterprises shall register itself under
Udyam Registration.
8. Updation of information and transition period in classification. -
(1) An enterprise having Udyam Registration Number shall update its infor-
mation online in the Udyam Registration portal, including the details of the ITR
and the GST Return for the previous financial year and such other additional
information as may be required, on self-declaration basis.
(2) Failure to update the relevant information within the period speci-
fied in the online Udyam Registration portal will render the enterprise liable for
suspension of its status.
(3) Based on the information furnished or gathered from Government’s
sources including ITR or GST return, the classification of the enterprise will be
updated.
(4) In case of graduation (from a lower to a higher category) or reverse-
graduation (sliding down to lower category) of an enterprise, a communication
will be sent to the enterprise about the change in the status.
(5) 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 expiry of one year from the close
of the year of registration.
(6) In case of reverse-graduation of an enterprise, whether as a result of
re-classification or due to actual changes in investment in plant and machinery or
equipment or turnover or both, and whether the enterprise is registered under
the Act or not, the enterprise will continue in its present category till the closure
of the financial year and it will be given the benefit of the changed status only
with effect from 1st April of the financial year following the year in which such
change took place.
9. Facilitation and grievance redressal of enterprises. - (1) The
Champions Control Rooms functioning in various institutions and offices of the
Ministry of Micro, Small and Medium Enterprises including the Development
Institutes (MSME-DI) shall act as Single Window Systems for facilitating the reg-
istration process and further handholding the micro, small and medium enter-
prises in all possible manner.
(2) The District Industries Centres (DICs) will also act as Single Win-
dow facilitation Systems in their Districts.

EXCISE LAW TIMES  1st July 2020  79