MSME is basically stands for Micro, Small and Medium Enterprises. MSME enterprises plays very important role in economic growth of country, There for Government of india always gives privileges to promote MSME Sector. It is simply optional registration which offers benefits to micro, small and medium enterprises. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To take the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.
- State level registration of SSI from commencement date.
- 1% exemption in interest rate in OD limit.
- Easy finance availability and 2% concession on interest rate of term loan for existing unit & 3% for New unit.
- Reimbursement of ISO certification expense.
- Preference in procuring govt. tenders.
- Easier to get License , permissions , approvals and registration.
- 15% subsidy on fully automatic machines bought under bank term loan.
- Manufacturer is eligible for IPS Subsidy.
- All new units (IT and BT units) are exempt from stamp duty or registration in C, D,D+ area and no industry unit.
- 80 to 90% refund of octroi under B,C,D, D+ and no industry zone.
- Protection against delay in payment from buyers and right of interest on delayed payment.
- 50% subsidy on expenditure incurred for patent registration.
- New SSI (including IT and BT) are eligible for capital subsidy.
- Registration scheme has no statutory basis, unit would normally get registered to avail benefits.
- Eligible for exemption under excise.
- 25% concession (up to 20lac/annum) on sales service Tax & electricity exemption for unit under C, D, D+ & No industry unit.