Micro, Small & Medium Enterprises Development (MSMED) Act,
2006 gave us clear definitions as to what exactly are the meaning of Small,
Micro and Medium Sized Enterprises. These definitions are based on the amount
of investment in Plant & Machinery in case of production or any further
processing of goods, and investment in equipments in case of Services.
Definition in relation to Goods
|
Enterprises
|
Investment in plant & machinery
|
|
Micro
|
Upto
25 lakh rupees
|
|
Small
|
More
than 25 lakh rupees - 5 Crore rupees
|
|
Medium
|
More
than 5 Crore rupees - 10 Crore rupees
|
Definition in relation to
Services
|
Enterprises
|
Investment in plant & machinery
|
|
Micro
|
Upto
10 lakh rupees
|
|
Small
|
More
than 10 lakh rupees - 2 Crore rupees
|
|
Medium
|
More
than 2 Crore rupees - 5 Crore rupees
|
Ministry of Micro, Small and Medium Enterprises is responsible
for formulation of all the laws and rules & regulations for implementation
of such laws relating to MSMEs.
Micro, Small and Medium Enterprises form a major part of the
economic sector of any developing country. MSME Act was introduced with an
objective to support small, micro and medium sized enterprises to promote
equitable development.
IS MSME Registration Mandatory?
The answer to this question is, NO. MSME Registration is only a choice
provided to the enterprises and is not a compulsory requirement. It is a choice
given to the SSI/MSME category entrepreneurs weather to get MSME registration
or not. MSME registration is not an obligation and also comes with number of
benefits including:
-
Subsidies under tax laws
- of Power
tariff subsidies, help in development of specialized industrial estates etc.
-
Exemption under Direct Tax Laws
- Easy
availability of Bank Loans that too at reduced interest rates.
Are SSI Registration & MSME Registration
different?
Many confuse Small Scale Industries Registration with
MSME registration, but the fact is that SSI Registration is replaced by MSME
Registration. And there is no fuzz relating to it, as MSME Registration Process is quite simple.
The appli8cant is required to have Aadhaar Card.
And if the applicant has not started business, they can apply
for provisional registration. It is valid for a period of 5 years and can be
reapplied after that.
Source url - http://blogs.montevideo.com.uy/blognoticia_165207_1.html
0 comments:
Post a Comment