MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSMED) vide Gazette Id no. CG-DL-E-01062020-219680 and S.O. 1702(E) dated 01st June, 2020 has officially notified criteria for classification of micro, small and medium enterprises, —In exercise of the powers conferred by sub-section (1) read with sub-section (9) of section 7 of the ‘Micro, Small and Medium Enterprises Development Act, 2006, due to which definition criteria has been changed now:
New Definitions – Enterprises
(shall come into effect from 01.07.2020):
where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees;
where the investment in Plant and Machinery or Equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees
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