To ensure effective growth & development of small and budding business entities, the Government of India has categorized small business units to Micro, Small and Medium Enterprise (MSME) to plan various subsidies, incentives and schemes for them individually. MSMEs through an MSMED Act (Micro, Small and Medium Enterprise Development Act) can avail numerous benefits as issued by Central or State Government or the banking sector for ease in their business activities. To avail these benefits MSME Registration is required and at Taxreturnwala.com we provide easy facility of Online MSME Registration.
But to avail benefits like tax subsidies, power tariff subsidies, investment limitations, lower business credit interest rates, excise exemption etc. the businesses have to get for them compulsory registration under the MSMED Act for Udyog Aadhar. MSME Registration in India, as per present digital evolution is nowhere a tiring task as MSME can now be registered online with minimal documentation required. TaxReturnWala team of experts in all cases helps you to file and apply for MSME Registration online with no extra effort and time lag.
Possibilities With MSME
- Collateral free and subsidized loans in specific cases
- Procurement of Government tenders becomes easy as many of them are kept exclusively reserved for SME Sector
- Very easy to get Licenses, approvals and registrations on any field for your business.
- Upto 50% subsidy for patent registration is provided
- Protection against delay in payments from buyers and a right to claim interest on delayed payment
- 50% fee waiver in TM application by a MSME registered company/ LLP
- Concession in commercial/ industrial electricity charges
- Easy dispute resolution by way of arbitration and conciliation measures
- Subsidy on charges payable on ISO certification if approval granted
- SEZ’s are required to allocate 10% space for SME’s as a mandate
- Special consideration on international trade fairs or exhibitions
- Availability of infrastructure and technology at a low price
- Support in product development, designing and packaging
- Easy access to modern management practices and knowledge
- Entrepreneurship development & skill up-gradation by appropriate training facilities
Who is responsible to act?
Primary responsibility of promotion and development of MSME is that of the state government, the government of India, in recognition of the potential of these enterprises, has always taken proactive steps towards supplementing the efforts of the state governments through different initiatives.
How did MSME gain importance?
The majority of people in India live in rural areas and draw livelihood from agriculture and allied sectors. The Government of India is striving to improve the economic and social conditions of rural populations through the creation of productive employment opportunities based on optimal use of local raw materials & skills thus in order to support the cause of basic livelihood of masses the inclination towards MSME is increasing with each passing day.
For easy execution of operations and an effective management the Government of India has Pursuant to MSME Act & Rules established
- National Board for MSME for reviewing the policies related to industrial development and
- National Commission to work for the development of the unorganized and underdeveloped business enterprises.
Manufacturing and Service Sector
Upto 1 crore
Upto 5 crore
More than 1 Crore but less than 10 crore
More than 5 Crore but less than 50 crore
More than 10 Crore but less than 50 crore
More than 50 Crore but less than 250 crore