Micro, Small & Medium Enterprises explained in easy language
-
October 9, 2018
In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes:
- Manufacturing Enterprises-The enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951) or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. The Manufacturing Enterprise are defined in terms of investment in Plant & Machinery.
- Service Enterprises:- The enterprises engaged in providing or rendering of services and aredefined in terms of investment in equipment.
See below table for easy understanding sector –wise:
| If you are a Manufacturer | |
| Enterprises | Investment in plant & machinery |
| Micro Enterprises | Does not exceed INR 25 Lakh |
| Small Enterprises | More than INR 25 Lakh but does not exceed INR 5 Crore |
| Medium Enterprises | More than INR 5 Crore but does not exceed INR 10 Crore |
| If you are a service provider | |
| Enterprises | Investment in equipments |
| Micro Enterprises | Does not exceed INR 10 Lakh |
| Small Enterprises | More than INR 10 Lakh but does not exceed INR 2 Crore |
| Medium Enterprises | More than INR 2 Crore but does not exceed INR 5 Crore |
Start availing benefits now. Get in touch with our SSI/MSME experts here.
About EbizFiling.com :
EbizFiling.com is a motivated and progressive concept conceived by like-minded people, which helps small, medium and large businesses to fulfill all compliance requirements of Indian Laws. It is a platform managed, operated and driven by CA, CS, IT professionals, Lawyers and Influencers, who have vast experiences into the respective fields. What differentiates us from others is our pricing, TAT, dedicated teams of professionals, whom we call Compliance Managers, digitally advanced platforms for client serving, among other things. Internally at EbizFiling, we have developed unique and customized working methods, which are committed to ensure error-free service delivery, faster execution and quick response time to the clients.
Get in touch for free consultation on info@ebizfiling.com or call 9643203209.
About Ebizfiling -
October 20, 2022 By Zarana Mehta
Company Registration in the USA: 5 Advantages of company registration in the US for foreign non-resident Introduction Do you wish to create your business in the USA but you are Non-resident US citizen? And or want to set up a business […]
October 19, 2022 By Zarana Mehta
7 Tax Advantages of C Corporation in the USA Introduction Entrepreneurs may choose a C corporation for a number of advantages. This corporate structure can really assist business owners in reducing their overall tax burden, even though there is a […]
October 17, 2022 By Zarana Mehta
5 Key differences between S and C Corporation Introduction A C Corporation is the default designation given to a newly formed company. On the other hand, a C corporation may choose to convert into a S Corporation at anytime if […]