Registering for MSME is crucial to access the benefits outlined in the MSMED Act provided by both federal and state governments, as well as the banking sector. An MSME categorization includes businesses falling into three size brackets: micro, small, or medium. Over the past five decades, India’s MSME sector has emerged as a highly dynamic and vibrant component of the nation’s economy.
On May 13th, 2020, the Government of India introduced significant relief measures for MSMEs. Moreover, a comprehensive redefinition of the MSME category has been implemented, bringing substantial relief. The new definitions no longer distinguish between manufacturing and service enterprises; instead, the investment threshold has been elevated, and an additional turnover criterion has been introduced.
While not obligatory by law, MSME registration offers a plethora of advantages to businesses, encompassing cost-effective borrowing rates, tax incentives, reduced electricity tariffs, and an array of other perks. Leveraging our highly effective services, you can obtain SSI or MSME registration within a single working day, ensuring prompt and optimal results.