MSME / SSI Registration – Register Your Business In MSME
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What is MSME?
MSME is basically known as Ministry of Micro, Small & Medium Enterprises. MSME falls under micro, small & medium sized enterprises. MSME enterprises are the strength of any economy and are an engine of economic growth. Therefore, with the help of various schemes and subsidies, the Government of India promotes MSME through MSMED Act. And It is necessary to avail the benefits under the MSMED Act from the banking sector, central or state Government. It simply an optional registration that provides Micro, Small and Medium sized enterprises with various benefits like subsidies and schemes. MSME is classified in two categories that is manufacturing enterprises where the enterprises engaged in the production or manufacture of goods and service enterprises in which the enterprises engaged in the business of providing or rendering of services or in simple words, it is defined in terms of investment in equipment. Now you can get MSME Registration very easily.
BENEFITS OF MSME REGISTRATION
Easy Bank Loan up to 50 Lakh without collateral / mortgage
The Govt. of India and SIDBI has launched a Credit Guarantee Scheme (CGSME) to make available collateral-free credit to SMEs.
Preference in procuring Government tenders
The Government of India gives special preference in buying from Micro and Small businesses through Govt. tenders.
1% exemption on interest rate on Bank Over draft (OD)
Enterprises that have MSME Registration can avail benefit of 1% exemption on interest rate on over draft (OD).
Concession in Electricity bills
Enterprises that have MSME Registration Certificate can avail Concession on electricity bill by making application to electricity department.
Protection against the delay in payment from Buyers
Maximum period for payment for purchases from MSME shall not exceed 45 days, in case of delay, the buyer is liable to pay interest to the SME supplier, at 3 times of the bank rate.
MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the government.
Special 50% discount on Govt. fees for Trademark & Patent
Enterprises that have MSME Certificate can avail 50% subsidy for patent & trademark registration.
Fast resolution of disputes
Enterprises undergoing a dispute with regard to payments may refer the dispute to the MSME Facilitation Council for conciliation & arbitration.