We are SSI or IEM?

[yujin kim]

We are confused whether we are SSI or IEM

As per 2012-13 budget, Small Scale and ancillary units (i.e. undertaking with investment in plant and machinery of less than Rs. 6.0 million and Rs. 7.5 million respectively) should seek registration with the Director of Industries of the concerned State Government.

Our machinery : 9.35 crore. (include customs duty)

Our plant : 2crore

We are SSI or IEM? as per MSME rule, there mentioned, total plant & machinery is below than 10 millon..

which one is correct. and which certificate should we go for ?

 

AI Summary

Business Seeks Clarification on SSI Status vs. IEM Certificate with Investment Exceeding SSI Threshold A business is uncertain whether it qualifies as a Small Scale Industry (SSI) or requires an Industrial Entrepreneur Memorandum (IEM) certificate. According to the 2012-13 budget, SSI units with investments in plant and machinery below Rs. 6.0 million must register with the State Government's Director of Industries. The business's machinery investment is Rs. 9.35 crore, and the plant investment is Rs. 2 crore. A Chartered Accountant clarifies that an IEM certificate is for industries involved in production, regardless of investment size, while SSI classification follows MSME guidelines issued by the Reserve Bank of India.