13/11/2019 Financial & Legal Services
Small Scale Industries (SSI) or Micro, Small and Medium Enterprises (MSME) can register themselves under the MSMED Act. The main purpose of Registration is to maintain statistics and maintain a roll of such units for the purposes of providing incentives and support services. It is not mandatory to get registered under this act but it is highly recommended because of following inherent features attached to it, which are:-
Priority sector lending, differential rates of interest
Exemptions under GST and Income tax,
Capital investment subsidies and power tariff subsidies
Statutory support such as reservation and the Interest on Delayed Payments Act
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MSME stands for Micro, Small and Medium Enterprises. MSMED Act has been launched by the government of India. Apply for Udyog Aadhaar Registration in I...