MSME/ Udyog Aadhar/ SSI registration
Any MSME in the service and manufacturing sector can obtain the MSME registration. It is used with SSI interchangeably that stands for Small Scale Industries. This registration is not statutory but it is beneficial for business as it gives a range of benefits like eligibility for capital investment subsidies, tax subsidies, power tariff subsidies, lower rates of interest and other support.
All the MSMEs are like a backbone of any economy because they are an engine of promoting equitable development, economic growth and job opportunities at small scale. To support MSMEs, Indian Government has started various schemes and subsidies through the MSMED Act. It is an optional registration but hosts multiple benefits which are why all MSMEs do registration.
To be applicable as an MSME, the enterprises need to have less than Rs. 10 crores of investment in plant and equipment. Service enterprises need to have an investment of less than 5 crore INR of investment in equipment and plant.
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