Advantages of MSME/Udyog Aadhaar registration

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Advantages of
UDYOG AADHAAR REGISTRATION / MSME REGISTRATION
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MSME stands for Micro, Small Medium
Enterprises. The MSME is classified into two
sections, namely, the manufacturing section and
the service section. The Ministry of MSME
provides Udyog Aadhaar which is a unique 12-digit
Government identification number for the small
and medium enterprises to register them as MSME.
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Manufacturing Enterprises are those that are
engaged in the manufacture or production of goods
or employing plant and machinery in the process
of value addition to the final product having a
distinct name or character or use. Service
Enterprises are those that are engaged in
providing or rendering of services and are
defined in terms of investment in equipment.
MSMEs are primarily labor oriented.
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The advantages of registering business under
MSME are as follows- 1. Low-Interest
Rates- Interest rates on loans are lower after
MSME is registered, almost as low as 1-1.5,
which is proved to be way lower than the normal
interest rate. 2. Credit guarantee
scheme- Credit Guarantee Fund scheme was
launched by the government for micro and small
enterprises (CGS) to supply collateral-free
credit to the MSE sector. New enterprises, as
well as, existing enterprises are eligible to be
covered under the scheme. 3. Statutory
support- Legislative and statutory support is
given to the MSME like Reservation, among others.
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4. Subsidies- Tax subsidies, power tariff
subsidies, capital investment subsidies, etc. are
enjoyed by the MSMEs. 5. Prolonged
Credit- Credit for Minimum Alternate Tax (MAT)
may be currently carried forward for up to
fifteen years rather than ten years. 6. Claiming
Exemption- Numerous exemptions provided under
Banking Laws, Direct Tax Laws, Excise Laws, etc.
can be claimed by registered MSMEs. 7. Growing
capacity under government activities- There are
many government tenders that are only open to
MSME Industries. 8. Subsidy on Patent
Registration- A registered MSME can get the
500th subsidy on Patent registration.
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9. Reduced electricity bills- Registered MSMEs
can avail of a concession on electricity bills by
applying to the board along with a copy of the
MSME certificate. 10. Protection in case of
delayed payments- The enterprises registered
under MSME relish the protection against delayed
payments whereby the varied provisions are
created to confirm the payment by the
client. 11. Employment opportunity- With the
increase of MSMEs, the employment rate has
considerably increased, giving a source of income
and livelihood to a large number of
people. 12. Preference for license- There is a
better preference for license and certification
for business registered under MSME. .
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13. Industrial Promotion Subsidy- Enterprises
registered under MSME are eligible for industrial
promotion subsidies. 14. Reimbursement of ISO
Certification charges- Registered MSMEs are
eligible for compensation of expenses for ISO
Certification by applying to the accepted
authority. 15. Women Empowerment- Being employed
in an MSME will prove to be a source of income
and livelihood for the women of socially and
economically backward classes.
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Get your UDYOG AADHAAR REGISTRATION / MSME
REGISTRATION CERTIFICATE done in 1 hour! MSME or
SSI registration is required to get a loan,
tenders and other tax benefits. To know more
about MSME, visit our website- https//udyogadhaa
r.com or https//www.myefilings.com/msme-registr
ation
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