Is SSI and MSME Sameby Legal Salaah Business Registration Solutions in India
SSI is the abbreviation for small scale industries and MSME is the abbreviation for micro small and medium enterprises
Let first discuss about the full forms of SSI and MSME:
SSI is the short form of small scale industries
MSME is the short form of micro small and medium enterprises
Now what we will be discussing is about- are both of these same?
The answer to this is yes they are almost same thing. Entrepreneurs who seak to register Dell business to get a licence and to be recognised by government go for these options. People generally get confused between these abbreviations like SSI Registration, MSME Registration, Udyog Aadhar Registration. But the reason for introducing all of these is just to promote the small scale industries.
Parts of MSME- Micro Small and Medium enterprises
What is a micro industry?
Micro industry is an extremely small industry with a number of employees up to 9 people and an average investment of up to 25 lacs for manufacturing enterprise and 10 lacs for service enterprise.
What is a small scale industry?
Small scale industries are those which performs exchange of goods, provide services, manufacturing goods, etc. On a small scale basis. This kind of industries have an average investment of less than 5 crore for manufacturing enterprise and less than 2 crores for service enterprises.
When we talk about SSI and MSME enterprises, we advise that one must Register their businesses under GST. We have provided all the details regarding the GST Registration Online, on our official website Legal Salaah. Visit our webpage and follow all the procedures for GST Registration. Before that, let's finish with the remaining information about SSI and MSME enterprises.
What is a medium scale industry?
Medium scale industries are those which perform greater numbers of operations on a daily basis and have sufficient numbers of employees in a complex environment, average investment of plus one 10 crore for manufacturing enterprise and less than 5 crore for service enterprise.
Note: a particular business cannot be classified under two kind of industries. So for example if your investment is more than 25 lacs and less than 5 crore for manufacturing enterprise only then it can be considered as a small scale industry.
What is SSI?
Small scale industries as discussed above is just like the small scale industry of MSME whose average investment in plant and machinery must be more than 25 lacs and less than 5 crore for manufacturing sector and more than 10 lacs and less than 2 crores for service sector having very few number of employees working under them. They produce goods and provide services on a small scale basis.
Following table helps you understand better.
Created on Feb 12th 2020 03:17. Viewed 432 times.