Udyam MSME registration helps in availing Government schemes

Udyam MSME registration helps in availing Government schemes and subsidies.Udyam Registration is the new scheme for registration for micro, small, medium-sized businesses in India under the Micro, Small and Medium Enterprise Development Act, 2006 (MSMED).

propertier registration

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Benefits of MSME Registration

The Government will subsidise the cost of ISO Certification and Consultant Expenditure – Up to 75% of the costs involved in getting ISO Certifications such as ISO 9000, ISO 14001 and HACCP and the consulting service charge.

Collateral Free Loans

Under the CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRISES scheme, the Government has introduced various initiatives for MSME/SSI that allow them to avail credit without collateral.

Payment of Dues within 45 days

As per MSME Act, 2006, dues towards MSME’s have to be cleared within 45 days.

Subsidy on Patent Registration

The Government gives a subsidy of upto 50% for patent registration.

Concession on electricity charges

By making an application to the DIC (District Industries Centre), the MSME’s can avail of lower electricity charges.

Priority Lending

Under the RBI scheme for priority sector, funds are made available through the banking channels for the development of MSME Sector.

Interest rate subsidies

Certain schemes from the banks qualify for a lesser rate of interest for entities registered under the MSME Act.

Presumptive Taxation under Income Tax Act

Entities registered under Udyam can use the presumptive rate of taxation, which can help reduce their operational burden by not having to maintain books for taxation purposes.

Export Promotion and Marketing Assistance from Government

MSME’s can claim incentives by way of subsidies, tax exemption and technical support towards their export activities. Also, subsidies are provided for taking part in fairs and exhibitions in India and abroad.

Capital Grants for improving infrastructure

Grants and subsidies are provided to enhance the plant and machinery and develop the overall infrastructure of the MSME.

Government preference towards MSME products

Under the Market Development Assistance Scheme, the Government follows a Price and Purchase Preference policy. More than 358 items are listed for exclusive purchases by Central Government from the MSME only.

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