View: GST ghosts for MSMEs

MSMEs are also increasingly moving towards selling their goods and services through ecommerce networks.

Synopsis

The Economic Census 2013 found 5.85 crore non-agricultural business establishments in operation, employing about 13 crore workers, an average of a little over two workers per enterprise. The 2015-16 National Sample Survey (NSS) reported that there were 6.34 lakh unincorporated non-agricultural MSMEs, with more than 99% of these enterprises.

GoI classifies small businesses in three classes: micro, small and medium enterprises (MSMEs). The classification of MSMEs depends on the extent of capital investment made and their turnover. While large businesses are cost-efficient as these operate at scale, MSMEs serve the ultimate customers, as they produce customised goods and services and are very close to customers.

The Economic Census 2013 found 5.85 crore non-agricultural business

BY

Subhash C Garg

ET CONTRIBUTORS

6 mins read, Last Updated:

Apr 08, 2022, 06:46 PM IST

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