MSME NEW DEFINITION NOTIFIED APPLICABLE W.E.F 01ST JULY, 2020

MSME NEW definition applicable w.e.f 01^st JuLy, 2020 Notified by MSMED.

MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSMED) vide Gazette Id no. CG-DL-E-01062020-219680        and S.O. 1702(E) dated 01^st 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 30^th June 2020)

Source: http://egazette.nic.in/WriteReadData/2020/219680.pdf

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