MSME Registration is now easy with various govt. schemes. MSME stands for Micro, Small and Medium Enterprises and any enterprise that falls under any of these three categories. MSME Registration or You can say MSME Enterprises are the backbone of any economy and are an engine of economic growth, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSME Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is essential.
MSME Registration for Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment to avail a host of benefits.
GetmyCA can help your business obtain MSME Registration online to avail a host of benefits. MSME online Registration or SSI online registration can be done through GetmyCA in Haryana, New Delhi NCR, Rajasthan, Mumbai, Bengaluru, Kerala & all over India.
Micro-enterprises are the smallest entities, of course. The investment under Micro manufacturing enterprises should be less than Rs. 25 lakhs in plant and machinery, whereas, the micro service enterprises should not exceed Rs. 10 lakhs investment.
In small manufacturing enterprises, the investment should be in between Rs. 25 lakh and Rs. 5 crores in plant and machinery, while in small service enterprises this investment limits between Rs. 10 lakh and Rs. 2 crores.
And if we’ll talk about the Medium manufacturing enterprises, then the investment should be in between Rs. 5 crore and Rs. 10 crores in plant and machinery, and for small service enterprises it should be in between Rs. 2 crore and Rs. 5 crores...
The Govt. of India and SIDBI has launched a Credit Guarantee Scheme (CGSME) to make available collateral-free credit to SMEs.
The Government of India gives special preference in buying from Microand Small businesses through Govt. tenders.
Enterprises that have MSME Registration can avail benefit of 1% exemption on interest rate on over draft (OD).
Enterprises that have MSME Registration Certificate can avail Concession on electricity bill by making application to electricity department.
Maximum period for payment for purchases from MSME shall not exceed 45 days, in case of delay at 3 times of the bank rate.
MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the government.
Enterprises that have MSME Certificate can avail 50% subsidy for patent & trademark registration.
Enterprises undergoing a dispute with regard to payments may refer the dispute to the MSME Facilitation Council for conciliation & arbitration.