What are the Benefits of MSME Registration?
The micro and medium enterprises in the manufacturing sector and service sector can obtain MSME Registration. Though the MSME Registration is not exactly statutory yet it is quite beneficial for certain businesses as it provides with a range of several benefits like:-
- The lower rates of interest.
- Tax subsidies.
- Excise duty exemption schemes.
- The power subsidy tariffs
- Also capital investments subsidy etc and other supports.
- It will give collateral free loans from the banks.
- There are reservation policies for the manufacturing sector and production sector.
- You will easily get approval for the registration and license.
- You get special consideration for the international trade fairs
- You become eligible for IPS subsidy
- You can get reimbursement of ISO certification.
How to Get SSI Registration?
SSI registration can be obtained by following enterprises
- SSI Registration As per the Notification released on 07th February, 2018
||Type of Enterprise
||Does not exceed Rs.5 Crore
||Exceeds Rs. 5 Crore but does not exceed Rs. 75 Crore
||Exceeds Rs. 75 Crore but does not exceed Rs. 250 Crore
- Before Notification SSI registration
||Type of Enterprise
(Investment in Plant and Machinery)
(Investment in equipment)
||Does not exceed Rs.25 Lakh
||Does not exceed Rs. 10 Lakh
||Exceeds Rs. 25 Lakh but does not exceed Rs. 5 Crore
||Exceeds Rs. 10 Lakh but does not exceed Rs. 2 Crore
||Exceeds Rs. 5 Crore but does not exceed Rs. 10 Crore
||Exceeds Rs. 2 Crore but does not exceed Rs. 5 Crore
The SSI registration can be done for acquiring all the benefits and available subsidies that are given to MSME. However SSI registration can be voluntary to obtain.
SSI Registration will contribute to the economic growth of the nation. Before going towards starting the operations you can go with provisional SSI registration certificate or PRC. With the help of SSI Registration certificate, one may be able to obtain term loans, capital for working and government regulatory bodies would give clearance as well. Hence there are numerous benefits which have been given by the Indian government for achieving the economic growth at a faster pace and with SSI registration one can get easy credit and subsidies along with tax rebates and exemptions.
The ssi registration process of registration can also be done in cases where the entity that’s registered is not following the prescribed guidelines of the government. The SSI registration can also get cancelled in such cases where it exceeds the limits that government had prescribed.
For MSME registration online, an online application is filed on the website of the government.