Benefits that you can get with MSME Registration

by Ananya Nair Accounting and Legal Services

MSME stands for Micro, small & medium enterprises. In our country, MSMEs contribute largely to socio-economic development. MSME sector is mainly established with a target to nurture micro, small and medium enterprises in India. In India, the economic growth of the entire country largely depends upon the MSME sector. Getting MSME or Udyog Aadhaar registration is not mandatory, but it’s recommendable to get your MSME registration done to avail a couple of benefits for business:

Obtaining an MSME certificate is quite simple through MSME registration online. Udyog aadhaar registration through online has become quite easy. Now you’re not required to do lots of paperwork to get your registration done. The online registration has made the entire process well-organized and hassle-free.

Access to government tenders – To avail of most of the government tenders the required eligibility criteria is to get MSME registration for your business. Once you’ll get registered you can easily access any government tenders. That can be an advantage for you to promote your small business.

Easy bank loans with low-interest rate – Once your business get MSME certification you can easily avail bank loans with a significantly low-interest rate, around 1-1.5%

Multiple benefits from Government – Businesses that are registered as MSME can enjoy multiple benefits like tax subsidies, capital investment subsidies, and many more.

Fast approval – MSME registered businesses are always given preferences in terms of getting licenses or certifications from the government.

Easy approval of loans – Once you are done with MSME registration for your business you’ll be eligible to get an easy loan approval without providing any collaterals.

MAT Benefits – MSME registered businesses are permitted to credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years.

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