MSME i.e. micro, small and medium enterprises and any enterprise are considered as the backbone of any economy. So, to support and promote MSMEs, MSMED Act was enacted. Now, to avail the benefits under the Act, MSME Registration is required.
Both the manufacturing and service sector can obtain MSME Registration. It is also known as Udyog Aadhar. Although the MSME registration is not compulsory but to avail a range of benefits like eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support, registration is advisable. It can be obtain any time at the discretion of owner but it is generally advised to take it immediately after incorporation of your enterprise. We at Legal Suvidha will help you in getting MSME registration.