What is MSME New Definition: Know All About It: Enterprises By CS Lalit Rajput



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):

Micro enterprises

where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;

Small enterprises

where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees;

Medium enterprises

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

 
Existing Definition (valid upto 30th June 2020)

Here is the notification for your kind perusal.

Lex comply

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