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MSME for Private Limited Company | Consultant in Bangalore
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 are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME is required. Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at 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. Reta Advisories can help your business obtain MSME Registration to avail a host of benefits.
Reasons to Register a MSME
MSME is an optional Registration under the MSMED Act that provides Micro, Small and Medium sized enterprises with a host of benefits and access to subsidies and schemes.
A Micro Enterprise in the manufacturing sector is an enterprise with less than Rs. 25 lakhs of investment in plant & machinery. A Micro Enterprise in the service sector is an enterprise with less than Rs. 10 lakhs of investment in plant & machinery