About the service
Most of the micro, small, and medium enterprises (MSMEs) require financial assistance to grow. By getting MSME registration, a business take various advantage like tax exemptions, duty reductions, competitive interest rates and free reservations for new products. Advantages of MSME Registration: 1. collateral-free bank loans 2. access to international trade 3. reduced rate of interest from banks 4. subsidy on patent registration 5. tax exemption 6. protection against delayed payments 7. marketing and promotion assistance from the government To get the registration, a business needs to register itself as MSME/SSI under MSME Act.
MSMEs in India are defined as enterprises in Manufacturing and Services with investment and turnover lower than Rs 50 crores and Rs. 250 crores, respectively. The individual sub-segments are classified as under:
- MICRO: Investment less than Rs. 1 cr., turnover less than Rs. 5 cr.
- SMALL: Investment less than Rs. 10 cr., turnover less than Rs. 50 cr.
- MEDIUM: Investment less than Rs. 50 cr., turnover less than Rs. 250 cr.
Some of the benefits of an MSME registration provided by the government include:
- Collateral free loans
- Equity infusion through MSME Fund of Funds
- Subordinate debt for MSMEs
- Guaranteed Emergency Credit Line (GECL) facility to MSME borrowers, including interested MUDRA borrowers
- Special concessions during registration of enterprises on Government e-market portal
- Ease of obtaining licenses, approvals, and registrations
- Special consideration in international trade fairs
- Bar Code registration subsidy
- Subsidy on NSIC Performance and Credit ratings
- Protection against delay in payment
- Reduced rate of interest from banks
- Concession in electricity bills
- Reimbursement of ISO Certification expenses
- Preference in procuring Government Tenders
- Subsidy for patent registration
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UP TO 20% OFF
₹ 2500 ₹ 2000