The Indian government has unveiled the Bureau of Indian Standards (Conformity Assessment) Amendment Regulations, 2024, aimed at refining the existing regulations to better accommodate the needs of businesses, particularly micro, small, and medium enterprises (MSMEs) and start-ups.
The Amendment Regulations were published on March 6, 2024 and come into immediate effect. These amendments seek to streamline the conformity assessment process outlined in the Bureau of Indian Standards (Conformity Assessment) Regulations, 2018.
Key amendments include adjustments to concession rates in processing fees for MSMEs and start-ups under Scheme-II and Scheme-IV of Schedule-II:
- Under Scheme-II:
- Micro enterprises and start-ups will now benefit from an eighty percent concession in processing fees, up from the previous fifty percent.
- Small enterprises will receive a fifty percent concession, while medium enterprises will enjoy a twenty percent concession.
- Similarly, under Scheme-IV:
- Micro enterprises and start-ups will receive an eighty percent concession, small enterprises fifty percent, and medium enterprises twenty percent.
These amendments aim to incentivize MSMEs and start-ups to engage with the conformity assessment process, facilitating their compliance with quality standards set by the Bureau of Indian Standards. The definitions of micro, small, and medium enterprises align with those provided in the Micro, Small and Medium Enterprises Development Act, 2006, while the term “start-up” corresponds to its definition in the Income-tax Act, 1961.
