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 ?

 

[CA Rachit Agarwal]

IEM is Industrial Entrepreur Memorandum. IEM Certificate is obtained by any Industry to be engaged in production or processing of goods or generation of power. IEM can be be obtained by any indsustry in respective of investments in plant & machinery.

Howwer SSI is definitely guided by MSME Guidelines as issued by Reserve Bank of India

AI Summary

Classification as SSI or IEM affects registration: IEM applies regardless of investment while SSI follows MSME guidelines. Classification as SSI or IEM depends on regulatory purpose: the document cites 2012-13 budget investment thresholds for small scale and ancillary units and notes the firm's machinery and plant values. An IEM is described as a registration for industries engaged in production or processing and obtainable irrespective of investment in plant and machinery, whereas SSI status is governed by MSME guidelines determining eligibility and the appropriate certification or registration to pursue.