BENIFIT OF MSME REGISTRATION

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Role of micro small and medium scale industries in the Indian economy: MSME  Definition 2020: Micro Small and Medium Enterprises (MSME) has been classified as per MSME Act-2016. Finance Minister Nirmala Sitharaman has taken a step towards promoting this Sector by taking steps towards reducing the economic losses from Kovid 19. Has announced to Provide 3 lakh crore loan. Due to this 45 lakh micro, small and medium industries will benefit in the Country. The Micro, Small, and Medium Enterprises (MSMEs) sector has emerged as a highly vibrant and dynamic sector in the Indian economy in the last five decades. This region saved India's economy from falling into recession during the time of economic recession. Overall, this region is playing a backbone role in the country's economy.

What is the amount of MSME industries
you should also know how many MSME businesses are operating in India.It is no wonder that India, with its abundant natural resources and diverse climatic changes, is one of the largest countries to practice such industries on a very large scale. According to the MSME Ministry's 'Overview MSME' report, the sector has 36 million units and employs over 80 million people. Sector 6,000 products contribute about 8% of GDP and 45% of total manufacturing output and 40% of exports from the country. Let us now understand how MSME registration happens.
The benefits of MSME Registration are as follows:
  • Easy finance availability from banks
  • Priority in buying government tenders
  • Exemption under direct tax law
  • Subsidy on ISO certification
  • Weightage in price preference (may vary depending on enterprise)
  • Reduction in the interest rate from banks
  • Free Cost Government Tenders
  • Stamp duty and octoy benefits
  • Concession in electricity bill
  • Reservation Policies for Construction / Production Sector Enterprises
  • ISO Certification Expense Reimbursement
  • Excise duty exemption scheme
Rebates available for enterprises seeking MSME Registration
  1. 1% discount on interest rate in OD
  2. 2% concession on term loan interest rate
  3. 15% CLCSS subsidy on fully automatic machinery purchased under the bank term loan
  4. Up to 80-90% refund of octroi under B, C, D, D + and no industry sector
  5. Electricity duty exemption for 15 years under C, D, D + and no industry sector
  6. 50% subsidy on expenses incurred for patent registration.
Documents required for MSME registration
  • Proof of ownership of premises i.e. Lease Deed/Property tax receipt/Rent agreement/ NOC
  • Three passport size photographs of proprietors/partners/Directors
  • Photocopy of Business proof
  • PAN Card and Aadhar Card of proprietors/partners/Directors
  • Valid E-mail ID and Mobile No.
  • Declaration required regarding Amount of Investment in Plant and Machinery on Letter Head
  • Income Tax Returns
What are the types of MSMEs
It is a service that provides a way for micro, small and medium scale industrialists to support them in a way that promotes normal development and their economic growth. In these three areas of business, it serves as a kind of reed bone, without which nothing can be possible. Under this, it is classified according to the capital investment made in the purchase of small and big mechanical plants, which is as follows.
Micro Industry (Micro): - Under this, the turnover of the company investing 1 crore is 5 crore, that unit and company will come.
Small Cottage Industry (Small): - Under this, the industry investing 10 crores, whose turnover is 50 crores, is an industry.
Medium Industry (Medium): - Under this, big industries and companies will get a turnover of 100 crores by investing 20 crores
Through this scheme, the Government of India has introduced a provision to provide assistance to all micro small and middle-class industrialists to grow their business, so that more employment opportunities can be provided to the needy in the country. The Government of India wants to promote self-employment of this scheme.
How to get MSME Registration
To get Msme Registration in Jaipur first visit our web portal www.e-startuprajasthan.com and go to our services and click on MSME registration then get more information of msme registration from there.
If you need any help regarding any kind of MSME RegistrationToll-Free number 8690746268, Our Business advisor will explain to you in detail.

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