Question
For an enterprise to be classified as small enterprise
under MSME Act, the annual turnover should not be more than _______Solution
The definition of micro, small and medium enterprises is as under as per MSMED Act 2006 (amendment 2020):
- A micro enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹1 crore and turnover does not exceed ₹5 crore;
- A small enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹10 crore and turnover does not exceed ₹50 crore ; and
- A medium enterprise is an enterprise where the investment in plant and machinery or equipment do
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