MSME Act Definitions_Urgent

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The MSME Act's definition of turnover is currently awaiting government clarification. While it's understood to include both domestic and export sales, the exact method for calculating it, such as using the last audited balance sheet, is still unclear. The updated definitions categorise enterprises as Micro, Small, or Medium based on investment and turnover thresholds.

praveen

praveen (Querist)

12 June 2020 Hi All.
What is Turnover Definition under MSME Act.?

Spurto Consultancy Services

Spurto Consultancy Services (Expert)

12 June 2020 The government is yet to provide clarification on definition of turnover under MSME.
However it may be taken as turnover from your last audited balance sheet

praveen

praveen (Querist)

12 June 2020 Thanks.
1. Turnover means Previous year Turnover ..?
2. Whether turnover includes both Domestic & Export Sales..?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

28 October 2021 Updated MSME Definition

Type of enterprise Investment Turnover

Micro Rs 1 crore Rs 5 crore

Small Rs 10 crore Rs 50 crore

Medium Rs 50 crore Rs 250 crore

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

28 October 2021 Yes Turnover includes domestic as well as export sales.

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