What is micro, small or medium enterprise act?
This query is : Resolved
01 March 2013
What is benefits under this act n which business are cover in this act?
09 March 2013
The Micro, Small And Medium Enterprises Act, 2006, is enacted for facilitating the promotion and development and enhancing the competitiveness of these industries and for the matters connected or incidental thereto. This act has following Objectives to achieve :-
Establish a high level board and advisory committee consisting of various stakeholders for the development of these enterprises
Ensure timely payments to these industries.
Ensure smooth, timely and appropriate flow of funds to prevent sickness in these industries.
Facilitate the procurement of goods and services.
Formulate policies, programmes, guidelines, etc. to enhance the competitiveness of these industries.
To formulate reservation policies for manufacturing/production sector enterprises.
Alternate Dispute Resolution System
Classification of Enterprises
A) In the case of enterprises engaged in manufacture or production of goods pertaining to any industries specified in First Schedule to the Industries (Development And Regulation) Act, 1951 as
Nature of enterprise
* Investment in Plant and Machinery
Micro
Does not exceed Rs. 25 lakhs
Small
More than Rs. 25 lakhs but less than 5 crores
Medium
More than Rs. 5 crores but less than 10 crores
b) in the case of enterprises engaged in providing or rendering services as:
Nature of enterprise
* Investment in Plant and Machinery
Micro
Does not exceed Rs. 10 lakhs
Small
More than Rs. 10 lakhs but less than 2 crores
Medium
More than Rs. 2 crores but less than 5 crores
Establish a high level board and advisory committee consisting of various stakeholders for the development of these enterprises
Ensure timely payments to these industries.
Ensure smooth, timely and appropriate flow of funds to prevent sickness in these industries.
Facilitate the procurement of goods and services.
Formulate policies, programmes, guidelines, etc. to enhance the competitiveness of these industries.
To formulate reservation policies for manufacturing/production sector enterprises.
Alternate Dispute Resolution System
Classification of Enterprises
A) In the case of enterprises engaged in manufacture or production of goods pertaining to any industries specified in First Schedule to the Industries (Development And Regulation) Act, 1951 as
Nature of enterprise
* Investment in Plant and Machinery
Micro
Does not exceed Rs. 25 lakhs
Small
More than Rs. 25 lakhs but less than 5 crores
Medium
More than Rs. 5 crores but less than 10 crores
b) in the case of enterprises engaged in providing or rendering services as:
Nature of enterprise
* Investment in Plant and Machinery
Micro
Does not exceed Rs. 10 lakhs
Small
More than Rs. 10 lakhs but less than 2 crores
Medium
More than Rs. 2 crores but less than 5 crores
09 March 2013
Thank you sir
In this scheme the service sector are included or not? If yes which benifits are available to the business?
In this scheme the service sector are included or not? If yes which benifits are available to the business?
09 March 2013
Thank you sir
In this scheme the service sector are included or not? If yes which benifits are available to the business?
In this scheme the service sector are included or not? If yes which benifits are available to the business?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
