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

CSLalit Rajput
Revised MSME Classification: New Investment and Turnover Criteria Effective July 2020 for Micro, Small, and Medium Enterprises. The Ministry of Micro, Small and Medium Enterprises (MSMED) has revised the classification criteria for micro, small, and medium enterprises, effective from July 1, 2020. Under the new definitions, micro enterprises are defined by an investment in plant and machinery not exceeding one crore rupees and a turnover not exceeding five crore rupees. Small enterprises have an investment limit of ten crore rupees and a turnover limit of fifty crore rupees. Medium enterprises are defined by an investment up to fifty crore rupees and turnover up to two hundred and fifty crore rupees. The previous definitions, valid until June 30, 2020, had different investment thresholds. (AI Summary)

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

Investment in plant & machinery

Entities

Manufacturing Sector

Service Sector

Micro Enterprises

does not exceed ₹ 25 lakh;

does not exceed ₹ 10 lakh

Small Enterprises

more than ₹ 25 lakh but does not exceed ₹ 5 crore;

more than ₹ 10 lakh but does not exceed ₹ 2 crore;

Medium Enterprises

more than ₹ 5 crore but does not exceed ₹ 10 crore.

more than ₹ 2 crore but does not exceed ₹ 5 crore.

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

 

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