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What is MSME registration certificate?
MSME stands for Micro, Small and Medium Enterprises. MSME registration is simply a registration of micro/small/medium enterprises, earlier it is called as SSI registration certificate and now it is known as Udhyog Adhaar Memorandum UAM.
What is the use of MSME certificate?
To support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act . To avail the benefits under the MSMED Act from the Central or State Government and the Banking Sector, MSME Registration is required
What is the advantage of MSME?
Some of the benefits from the Central Government include easy sanction of bank loans (Priority sector lending), lower rates of interest, excise exemption scheme, the exemption under Direct Tax Laws, and statutory support such as reservation and the Interest on Delayed Payments Act.
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