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MSME registration stands for micro small and medium enterprises registration. MSMED Act has been launched by the government of India to support the MSME through various schemes, subsidies, and incentives. With MSME Registration , banks also provide loans at a lower rate of interest, as these MSME play an important role in the country’s economic growth. You may know the MSME registration process by visiting the official website of Udyog Aadhaar Registration.
Table of Contents
Before applying for MSME registration in India, you need to take a look at the Notification released on 7th February 2018 by the government of India.
One has to adhere to the following MSME registration conditions:-
Note: above is the proposed classification
For MSME registration your enterprise must fulfill the point(s) mentioned below.
Banks easily provide the loans for MSME, that too collateral-free loans do not have to pledge property with banks.
Once you have gotten your MSME registration certificate, it will serve as a legal entity proof of the business; which will help you in the opening of a bank account.
MSME departments hold international/national trade fairs that will provide opportunities to grow nationally and internationally.
If your company is registered under MSME, then you are likely to get the benefit of an octroi refund imposed on goods and services.
If you run a manufacturing unit, then barcode registration[1] is required. Under which you can avail of the benefit of the subsidy.
Enterslice is a leading company dealing with MSME registration.
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