MSME - Udyam Registration
Recently Government of India has introduced various schemes, subsidies, and incentives to promote MSME (Micro, Small and Medium Enterprises) through MSMED Act. Not only the government but banks are also providing loans to these MSMEs at very concessional rates to set their first brick of the business. However, to get these benefits from the central and the state government or the banking sector, you would have to apply for MSME Registration. Udyam Registration used to be referred as Udhyog Adhaar or MSME registration earlier. The Government of India has made it compulsory to have an Aadhar Number for Registration under the MSME act.
What Are The Different Types of MSMEs?
I- Micro Enterprises
Micro-enterprises are the smallest entities of course. The revised threshold limit for Micro manufacturing enterprises and micro service enterprises is that its investment should be less than ₹1 Crore in plant and machinery and it should be having less than ₹5 Crore turnover.
II- Small Enterprises
In small manufacturing enterprises and small service enterprises, the investment should be in between ₹1 Crore and ₹10 crores in plant and machinery, while it should be having turnover between ₹1 Crore and ₹25 crores
III- Medium Enterprises
And if we’ll talk about the Medium manufacturing enterprises and service enterprise. then the investment should be in between ₹10 crore and ₹50 crores in plant and machinery, and
it should be having a turnover between ₹25 Crore and ₹250 Crore
WHY MSME ?
Bank Loans (Collateral Free).
Subsidy on Patent Registration.
Excise Duty Exemption schemes.
Tax Subsidy
Protection against Payments (Delayed Payments)
ISO Certification Charges Reimbursement
