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Important Things To Know About MSME
MSME is acronym for micro, small and medium-sized businesses and any business that comes within any one of these three groups. On 13 May 2020, the Government of India declared some big relief for small and medium-sized enterprises. And one of the big reliefs is that the Government has updated the concept of the MSM as a whole.
Within the current concepts, the differentiation between production and service companies has been removed and the assets have been updated upwards and additional turnover requirements have been added.
Revised MSME Classification for Aatma Nirbhar Bharat - Manufacturing & Service Enterprise
Investment less than ₹1 Crore & turnover less than ₹5 Crore
Investment less than ₹10 Crore & turnover less than ₹50 Crore
Investment less than ₹20 Crore & turnover less than ₹100 Crore
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