Let's have a look at the benefits of have MSME registration.
There are numerous benefits of registering and getting a Udyog Aadhaar for your business. Given below, is a list of benefits derived from the various schemes offered by the Ministry of MSME for the Protection, Growth, and Development of the small enterprises. The benefits are as follows:
1. Protection against delay in payment
2. Fast resolution of disputes
3. Collateral Free loans from the bank
4. Exclusive consideration for participating in the international trade fair
5. Octroi benefits
6. Waiver of Stamp duty and Registration Fees
7. Several Exemption under Direct Tax Laws
8. Barcode registration subsidy
9. Subsidy on NSIC Performance and Credit ratings
10. Counter Guarantee from GoI through CGSTI
11. Reduced rate of interest from banks
12. 15% subsidy under CLCSS scheme for technology upgradation
13. Exemptions while applying for Government tenders
14. Concession in Electricity Bills
15. Reimbursement of payment made for obtaining ISO certification
16. 1% exemption in interest on OD
17. Increasing eligible loan limit for optimal reasons, from the amount of Rs. 25 lakh to Rs. 50 lakh
18. Raising the extent of guarantee cover from 75 % to 80 %
19. Reservation of products for exclusive manufacturing by MSME/SSI
20. Easier registration and approvals to obtain Licenses
21. Eligible for IPS subsidy
22. Preference in the allocation of Government tenders
23. Excise Exemption Scheme
24. Reduced rate of interest from banks
25. 50% subsidy for patent registration
Above mentioned are some of the benefits that an MSME certificate holder can enjoy.
Apart from these as and when there are new schemes introduced, the same benefits can also be enjoyed by the MSME certificate holder.
Check out your eligibility as per below-mentioned criteria to know under which part of MSME you are in.
MSME definition for manufacturing, production, processing, and preservation of goods.
Investment in plant and machinery must not exceed Rs. 25 lakh;
Investment in plant and machinery must not be less than Rs. 25 lakh and must not exceed Rs. 5 crore; and
Investment in plant and machinery must not be less than Rs. 5 crores and must not exceed Rs. 10 crore.
MSME definition for service providers.
Investment in equipment must not exceed Rs. 10 lakh;
Investment in equipment must not be less than Rs. 10 lakh and must not exceed Rs. 2 crores; and
Investment in equipment must not be less than Rs. 2 crores and must not exceed Rs. 5 crore.
Apply now for MSME registration with the help of our team.
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