MSMEs stands for Micro-Small & Medium Enterprises governed by the Ministry of Micro, Small & Medium Enterprises and these are required to be registered to avail benefits under the Micro, Small & Medium Enterprises Development Act.
Our firm recommends that every business must have MSME registration to avail the benefits of government schemes.
Get to know more of MSME registration?
- MSMEs are classified into two categories as manufacturing and service enterprises. Traders are not eligible for MSME registration.
- Benefits of MSME
- Helps in getting government tenders by exemption from payment of EMD.
- Getting licenses and approvals becomes very easy.
- Import subsidies will be given on plant and machinery
- Get bank loan at low interest rates.
- Get reduction in tariff of electricity bill
- Get tariff subsidies, tax and capital subsidies.