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Question
What is the criteria for determining small scale manufacturing enterprises under the MSMED Act 2006?
What is the criteria for determining small scale manufacturing enterprises under the MSMED Act 2006?
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Solution
The following factors classify a business as small scale enterprise as per MSMED Act, 2006:
- Investment in plant, machinery and equipment should not be more than 10 crores.
- Annual turnover of the business should not exceed 50 crores.
N.B: These values are revised as of July, 2020.
Also read:
- Role and Importance of Small Scale Industries
- Small Scale Industries
- Administrative Setup for Small Scale Agro and Rural Industries
- Large Scale Industries
Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.
The following factors classify a business as small scale enterprise as per MSMED Act, 2006:
- Investment in plant, machinery and equipment should not be more than 10 crores.
- Annual turnover of the business should not exceed 50 crores.
N.B: These values are revised as of July, 2020.
Also read:
- Role and Importance of Small Scale Industries
- Small Scale Industries
- Administrative Setup for Small Scale Agro and Rural Industries
- Large Scale Industries
Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.
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