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Question
Which Act provides the classification of micro small and medium enterprises?
Which Act provides the classification of micro small and medium enterprises?
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Solution
The Indian government sanctioned the Micro, Small and Medium Enterprises Development Act, 2005 (MSME Act) under which grouping of micro, small and medium businesses (MSME) was subject to two components:
- Capitalisation in plant and machinery.
- Turnover of the venture.
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The Indian government sanctioned the Micro, Small and Medium Enterprises Development Act, 2005 (MSME Act) under which grouping of micro, small and medium businesses (MSME) was subject to two components:
- Capitalisation in plant and machinery.
- Turnover of the venture.
Stay tuned to BYJU’S to learn similar Commerce Questions.
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