TaxguruNov 18, 2021Micro Small & Medium Enterprises in IndiaThe term MSME is often used to abbreviate Micro Small & Medium Enterprises; these are small sized enterprises operating in Manufacturing and Service sector.The category of these enterprises are determined considering the amount of Investment made in plant, machinery or equipments (the criteria is now proposed to be revised considering the Investment and Annual Turnover as announced by FM N. Sitharaman on 13th May 2020).MSMEs are backbone of economic development in India, with its large population needing products and services.MSMEs are governed by the provisions of MSMED Act 2006.Read more at TaxGuru
The term MSME is often used to abbreviate Micro Small & Medium Enterprises; these are small sized enterprises operating in Manufacturing and Service sector.The category of these enterprises are determined considering the amount of Investment made in plant, machinery or equipments (the criteria is now proposed to be revised considering the Investment and Annual Turnover as announced by FM N. Sitharaman on 13th May 2020).MSMEs are backbone of economic development in India, with its large population needing products and services.MSMEs are governed by the provisions of MSMED Act 2006.Read more at TaxGuru
