Indian government has provided many benefits for small scale units or medium small and micro enterprises (MSME). In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under MSMED Act.
1) Ease of getting government tenders.
2) Getting various licenses and permits for your business becomes easier.
3) 15 % import subsidy on fully automatic machinery if bought by taking a bank loan.
4) Compensation in respect of ISO certification expenses.
5) No need for filing returns.
6) Subsidies on electricity bills.
7) Priority sector lending.
8) Subsidies under excise laws and direct tax laws.
9) Beneficial interest rates.
1) Aadhar Card of the applicant.
2) PAN card of the business.
3) Proof of address of business such as rent deed or utility bills.
4) Name of the owner.
5) Social category of the applicant such as General, SC/ST or OBC.
6) Name and type of the organization.
7) Details of bank account.
8) Previous registration details of the enterprise (if any).
9) Address and date of commencement of the business.
10) Major activity of the enterprise.
11) NIC code of the enterprise.
12) Location of Direct Industry Code.
13) Number of persons employed.
14) Amount of investment in Plant, Machinery, and Equipment.