Do You Require a Current Account to Register an MSME?
Posted on Wednesday, September 11th, 2024 |
If you are planning to register your business as a Micro, Small, and Medium Enterprise (MSME) and wondering if you need a current account, the answer is yes! For registering your business as an MSME, it is often necessary to have a functional current account to facilitate financial transactions and maintain proper records. A current…
Read moreBenefits of MSME Registration
Posted on Wednesday, September 11th, 2024 |
MSME (Micro, Small and Medium Enterprise) registration can be a transformative step for your business. Doing so can offer distinct benefits like easy access to loans at lower interest rates, tax subsidies and various government incentives and schemes. This recognition assists in business expansion and growth. However, there might be a few questions you might need…
Read moreEssential Documents for MSME Registration
Posted on Friday, September 6th, 2024 |
As India moves towards becoming a global economic power, the contribution of the Micro, Small, and Medium Enterprises (MSMEs) sector cannot be overlooked. They play a crucial role in the Indian economy, helping it propel forward step-by-step. MSMEs can contribute even greater value if they register themselves under Udyam registration. By doing so, MSMEs can…
Read moreDo MSMEs need a GST number for Udyam certificate?
Posted on Friday, December 16th, 2022 |
For any business to be legally recognized as a supplier of goods and services, registration in the tax system is the most fundamental requirement. Without registration, you can neither collect tax from your customers, nor claim any input tax credit of the tax paid by your enterprise. As the name suggests, GST Registration is the…
Read moreDifference between NSIC & MSME
Posted on Thursday, December 15th, 2022 |
The Ministry of MSME has set up several departments to look after specific needs of upcoming and growing dynamic business needs of the micro, small & medium enterprises. The NSIC, or the National Small Industries Corporation Limited of the MSME Ministry caters to small-scale business in raw material procurement, product marketing, credit rating improvement, technology upgradation…
Read moreMSME Udyam Registration process and benefits: Step-by-step guide
Posted on Friday, December 9th, 2022 |
The MSMEs, or the Micro, Small, and Medium Enterprises play a vital role in the economic growth of the developing nations. In the last five decades, MSMEs have helped India reduce economic disparity, rural-urban divide, and regional imbalances. The Indian MSME sector produces over 6,000 different products, which account for 45% of all industrial jobs,…
Read moreMSME Guide: Which businesses fall under MSME, and which don’t. See full list!
Posted on Tuesday, December 6th, 2022 |
The MSME, or the micro, small and medium enterprises are considered the backbone of the Indian economy. The contribution of MSMEs in accelerating the economic growth of the nation has increased manifold in the last 5 years. In 2019-2020, the contribution of Indian MSMEs in the India’s GDP stood at a whopping 30 per cent….
Read moreA Guide to the MSMED Act in India
Posted on Friday, December 2nd, 2022 |
The MSME or Micro, Small, Medium Enterprises for long had demanded for a single comprehensive law which will ease the challenges for small businesses by easing rules and regulations. In addition, groups like the Abid Hussain Committee (1997) and the Study Group led by Dr. S.P. Gupta (2000) recommended creating a proper legal framework for…
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