MSME is the short form for Micro Small Medium Enterprises.
Currently the ministry of MSME is distributing the certificate in the name of Udyog Aadhaar registration. There is an ACT called as MSMED Act, also Micro, Small and Medium Enterprises Development Act, 2006 for the growth of the small business upto the investment for 10 crores in manufacturing sector and 5 crores in case of service industries. There are major benefits is been scheduled for the businesses in India to enjoy by registering their business with Udyog Aadhaar by MSME department.
>>The documents required for MSME online Registration are:
Aadhaar card which is enough to register and get MSME certificate.
Both new and existing business can apply for MSME registration and get the certificate.
Major Benefits of Having MSME Certificate or Udyog Aadhaar Certificate
• 100% Collateral Free loans from all banks
• Reduction in interest rates from Banks
• 1% exemption on interest rate on OD
• Special consideration on International Trade fairs
• Bar Code Registration Subsidy
• Waiver in Security Deposit in Government Tenders and Departments
• Concession in Electricity bills
• Reimbursement of ISO Certification
• NSIC Performance and Credit ratings
• 50% subsidy for patent registration
Most states offer those who’ve registered under the MSMED Act subsidies on power, taxes and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preference on goods produced.
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