Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and processing of goods and commodities. The concept of MSME was first introduced by the government of India through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
What are the types of MSME? According to the provisions of the MSMED (Micro, Small & Medium Enterprises Development) Act of 2006, MSMEs are classified into two classes i.e. Manufacturing Enterprises and Service Enterprises. The enterprises are further categorized based on annual turnover and investment in equipment.
Who is eligible under MSME?
A proprietorship, partnership firm, company, trust or society with an investment below Rs.50 crore and annual turnover below Rs.250 crore are eligible for MSME registration.20-Apr-2023
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