MSME CLASIFICATION TURNOVER BASED

[khushwant singh]

WHEN DID THE CABINET APPROVE THE MSME CLASSIFICATION / LIMIT TO TURNOVER BASE INSTEAD OF INVESTMENT. WHEN DID THE SAME BECAME THE LAW

[KASTURI SETHI]

In 2015, the government has introduced an amendment bill to change the limit in all categories and it was adopted in February 2018. Full details are given in this site:

See. link https://www.indianeconomy.net/splclassroom/new-classification-msmes/

AI Summary

MSME turnover-based classification replaces investment thresholds following a legislative amendment altering eligibility criteria. The MSME classification was changed from an investment-based framework to a turnover-based framework by a legislative amendment: an amendment bill was introduced in 2015 and adopted in February 2018, replacing investment thresholds with turnover as the operative eligibility measure.