MSME Registration

MSME stands for Micro, Small and Medium Enterprises which are regulated by the MSMED Act, 2006. MEME helps promote these industries using the provisions of the act. The government approved body will authorize various incentives approved under the MSMED Act. MSME registration or Udyog Aadhar Registration can be availed by the enterprises working in both manufacturing as well as in the service sector.

However, MSME Registration is an optional Registration under the MSMED Act, but it provides Micro, Small and Medium-sized enterprises with a host of benefits such as interest rate concessions, tax benefits and access to a range of subsidies and schemes. It also ensures remedies against non-payment to MSMEs. MSME or Udyog Aadhar Registration is also known as SSI Registration.

As per MCA notification dated 22 January 2019, MSMEs are protected against delay in payment from buyers. The payment to MSME shall not exceed 45 days from the date of acceptance of goods or services. Every company has to report the default in the payment made towards an MSME recognized entity. MSME registered entities are eligible for capital subsidies, interest rate subvention, business marketing, and expansion support, and power tariff subsidies. Start Up Seven can help start ups to get MSME Registration Online.