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Any Small Scale Industry (SSI) or Micro Small and Medium can register themselves under MSMED Act. MSME enterprises are very crucial for the country’s economic growth. They are backbone of the country and are engine of economic growth in India.
Registration of the company under MSMED Act is not compulsory, but it is always recommended to have it done, as various governments benefits or incentives is being provided to the registered firm. Benefits offered by governments or bankers are as follows – lower rate of interest, power tariff subsidies, tax subsidies, capital investment subsidies, excise exemption scheme, etc
Categories as specified in MSMED Act are as follows:
Time Line: 15 ‐ 20 working days
Location: Mumbai, Navi Mumbai and Thane