Question

Under the MSMED Act, 2006, how is the classification of

Q: Answer-Under the MSMED Act, 2006, how is the classification of MSMEs determined?

The classification of MSMEs is based on a composite criterion involving investment in plant and machinery or equipment and turnover. The investment and turnover limits determine whether an enterprise is classified as micro, small, or medium

MSMEs determined?

A Based on the number of employees

B Based on investment in plant and machinery or equipment and turnover

C Based on export turnover only

D Based on the geographical location of the enterprise

E Based on the annual profits of the enterprise

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Under the MSMED Act, 2006, how is the classification of

Solution