MSME registration is required for micro, small and medium sized enterprises to avail various incentives provided under the MSMED Act. Rs 1999/-
MSME Registration
MSME stands for Micro, Small and Medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and the various benefits provided by the govt of india are an engine of economic growth, promoting equitable and sustainable growth and development for all. For promotion of MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through regulated by MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking, Taxation and Sector, MSME Registration is required.
Micro, small and medium sized enterprises in both the manufacturing as well as service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutorily required to be obtained, its benefit for the organisation encourages establishment to opt for MSME registration it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.