Due to this amendment, MSME’s are classified as:. Earlier the criteria were given to Investment in Manufacturing and Service enterprises but in the revised MSME classification, the composite criteria is Investment and Annual Turnover. On, the new classification of MSME has been announced by the Government of India. 250 Crores comes under the category of Medium Enterprises.
Medium Enterprises:– The businesses or organizations which has annual turnover are between Rs. 75 Crores come under the category of Small Enterprises. Small Enterprises:- The businesses or organizations which has annual turnover are between Rs. 5 Crores come under the category of Micro Enterprises. Micro Enterprises:- The businesses or organizations which have an annual turnover of less than Rs. Due to this amendment, according to the annual turnover MSME’s are classified as:. Service Enterprises:– The enterprises whose main focus is in providing or rendering of services to other organizations or end-users.Īccording to the size, MSME’s are classified into three Enterprises:-Īs per the latest update in the month of February 2018, the Government of India has given a new classification of MSME as per the annual turnover. Manufacturing Enterprises:- The enterprises which are dedicated to the manufacture or production of goods or employing plant and machinery are called Manufacturing Enterprises or Organizations. Classification of MSME’s:-Īccording to the provision of the MSME Act 2006, MSME’s are broadly classified into two categories:. In addition, from various concessions and subsidies, MSME’s also enjoy better financing options. Being an MSME, you can enjoy a multitude number of benefits from various government schemes. It is the vibrant and dynamic sector responsible for the growth of the Indian Economy. MSME stands for Micro, Small, and Medium Enterprises. 
Differences Between Manufacturing Enterprises And Service Enterprises
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