MSME Definition and MSME registration benefits
Micro-Small & Medium Enterprises contribute in the socio-economic development of our country. MSME comes under the Ministry of Micro, Small & Medium Enterprises and are required to be registered to avail benefits under the Micro, Small and Medium Enterprises Development Act. It is classified in to two categories, such as manufacturing and service enterprises. The original Value of the plant and machinery is to be taken into calculation for the service sector respectively and as per Turnover of Financial Statements definition. MSME registration benefits: As per Government Policy Udyam Registration is not business or address proof, except valid in some case. It is mandatory to avail to many benefits as MSME from the state, central government, banking, or from others. By having the Udyam Registration, any business can apply and get many benefits or preference, · Financial subsidies from the state government, central government departments. · Get parti