To access benefits under the MSMED Act from both Central and State Governments, as well as the Banking Sector, MSME Registration is essential. MSME, which stands for micro, small, and medium enterprises, encompasses enterprises falling into these categories. This sector has significantly contributed to India’s economy over the past five decades.

On May 13, 2020, the Government of India introduced major relief measures for MSMEs, including a revised definition of MSMEs. The distinction between manufacturing and service enterprises has been eliminated, and the investment thresholds have been increased, with the introduction of turnover criteria.

The revised definitions are as follows:

– Micro Enterprise: Both manufacturing and services enterprises with investments up to Rs 1 crore and turnover up to Rs 5 crore are classified as micro enterprises.

– Small Enterprise: For small enterprises, the investment limit is revised to Rs 10 crore with a turnover limit of Rs 50 crore.

– Medium Enterprise: Medium enterprises are defined as enterprises with investments up to Rs 50 crore and turnover up to Rs 250 crore.

This redefinition is a positive step towards promoting self-reliance (Atma Nirbhar Bharat Abhiyan) by the Government of India and ensures that MSMEs continue to benefit from various incentives and supports as they grow.

MSME Registration, although not mandatory, offers substantial benefits such as eligibility for capital investment subsidies, lower interest rates, tax incentives, power tariff subsidies, and other forms of support.

info@yogeshnaatani.com provides seamless services for MSME registration, ensuring quick and affordable processes. For more information or to avail of our services, visit info@yogeshnaatani.com, where we offer end-to-end incorporation, compliance, advisory, and management consultancy services.

ISO Certification: A Step-by-Step Guide to Obtaining the Certificate and Required Documents

At Yogesh Naatani, we understand the importance of ISO certification in enhancing your business’s credibility and competitiveness. In this article, we will walk you through the process of obtaining an ISO certificate and the necessary documents required for it.