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.