Any enterprises falling under micro, small and medium category can get MSME registration to avail various incentives provided under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
MSME registration can be obtained for manufacturing as well as service enterprises. Though the MSME registration is not mandatory, it is beneficial for business as it provides a range of benefits ie eligibility for lower interest rate, power tariff concession, excise exemption, tax subsidies, subsidy for capital investment etc.
We can help you in obtaining MSME Registration in your city to avail host of benefits under Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
MSME comes under micro, small & medium sized enterprises Therefore, with the help of various schemes and subsidies, the Government of India promotes MSME through MSMED Act. And MSME registration is necessary to avail the benefits under the MSMED Act from the banking sector, central or state Government. MSME registration is 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.
Considering the importance of this segment Govt of India, have set an independent ministry named, Ministry of MSME. If you also own a small business and want to take it forward there are numerous schemes such as Finance scheme, Training Scheme, Government Grant for purchase of promotion of such MSME has been initiated by the said Ministry. Mumbai being the financial hub of country houses numerous business entities. Keeping in mind the need of registration of MSME in Mumbai and all over India, we are going to introduce some practical information related to same MSME segment herewith.
However to take benefit or to become eligible for all benefits the very first requirement is to register your business entity with MSME Registration requirements. Here we will try to provide some vital information for MSME and its related benefits to your Business.
MSME Audit & Assurance.
MSME Registration is a most dominant media to avail many number of benefits under MSMED act.
To avail any of the benefits you should have your new or existing business should have MSME Certificate.
Listing few of the benefits, For more details in particular to your business, reach the MSME office in your district.
1. 1% exemption on interest rate on OD.
2. Collateral Free loans from banks with 2% concession on interest rate.
3. Reimbursement of ISO certificate Expenses.
4. Preference in Procuring Government Tenders.
5. Very easy to get Licenses, approvals and registrations on any field for your business.
6. 15% CLCSS subsidy on fully automatic machinery bought under bank loan.
7. Eligible for IPS subsidy.
8. Exempted in stamp duty payment.
9. Electricity duty exemption for 15 years.
10. 50% subsidy for patent registration.
11. Eligible for capital subsidy .
12. Special consideration on international trade fairs or exhibitions.