To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required. MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades.
On 13th may, 2020 Government of India announced some major relief to the MSMEs. And one of the major relief is that the Government Revised the definition of the MSMe as a whole.
Under the new definitions, the distinction between manufacturing and services enterprises has been eliminated and the investments have been revised upwards and additional criteria of turnover has been introduced.
Obtaining Udyam Registration is a straightforward process that eliminates the burden of paperwork. Benefits of having Udyam Registration for your business include:
Business Consultancy Services LLP is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Registering for SSI/MSME is easy, seamless, cheapest and quickest with Bizzseva!