Micro, Small & Medium Enterprises ( MSME)
MSME means Micro, Small and medium sized enterprises. In both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. It is not compulsory to take the MSME Certificate but person can get the various benefits given by Government of to the Micro, Small and Medium sized enterprises like reducing interest rate, Power tariff subsidiary etc.
|Classification of the MSME||Proposed New Classification (annual turnover) – Not yet implemented||Existing Classification – Investment in Plants & Machinery|
|Manufacturing Sector||Service Sector|
|Micro||Not exceeding Rs. 5 Crore||Does not exceed Rupees Twenty Five Lakh||Does not exceed Rupees Ten Lakh|
|Small||Between Rs. 5 Crore to Rs. 75 Crore||More than Rupees Twenty Five Lakh but does not exceed Rupees Five Crore||More than Rupees Ten Lakh but does not exceed Rupees Two Crore|
|Medium||Rs, 75 to Rs. 250 Crore||More than Rupees Five Crore but does not exceed Rupees Ten Crore||More than Rupees Two Crore but does not exceed Rupees Five Core|
It will take 1 working day to get the MSME Certificate