MSME is an acronym for Micro, Small and Medium Enterprise. They are differentiated on the basis of their investment in their equipment and machinery Micro Enterprise: Investment in Machinery: Not more than INR 25 lakh Investment in equipment: Not more than INR 10 lakh Small Enterprise: Investment in Machinery: Between INR 25 lakh and 5 Crore Investment in equipment: between INR 10 lakh and 2 Crore Medium enterprise: Investment in Machinery: Between INR 5 Crore and 10 Crore Investment in equipment: Between INR 2 Crore and 5 Crore MSME registration is the registration of MSMEs through which they can avail several government schemes. The benefits of MSME registration are the following:.
In accordance with Micro, Small and Medium Enterprises Development Act, 2006, the manufacture and service enterprise is defined in terms of investment in plant & machinery and services respectively as micro, small and medium enterprise as explained below:
All companies: Who get supplies of goods or services from micro and small enterprises, and Whose payments to such micro and small enterprises are due for a period exceeding 45 days i.e. 46 days in all shall be referred to as the Specified Enterprises.
The MSME Form I is required to be filed as following: One time within 30 days of the publication of notification i.e. latest by 20th February, 2019 as the date of publication of notification is 22nd January, 2019. At the end of every half year within 30 days i.e. by 31st October for the period from April to September and by 30th April for the period from October to March.