MSME is abbreviated as Micro, Medium and Small-scale industries. Faucone Accounting is ranked as the top MSMEs registration consultant in Chennai, with a rapidly growing customer base. The team includes a number of business lawyers and accountants to help you with the MSME registration process. We provide company secretaries, chartered accountants, and management consultants to MSME units in Chennai, India. As a leading provider of quality services to MSME manufacturers and MSME service companies, we are known for our excellent quality services expertise.
MSME industries are the backbone of the economy in a developing country like India. 45% of India’s industrial employment is provided by the MSME sector, 50% of Indian exports come from the category, and 95% of the country’s industrial units are provided by the MSME sector.
The economy of the country grows as a whole and thrives when these industries thrive. As a result, these industries are known as small-scale industries or SSIs.
IS IT MANDATORY?
It does not matter if the Company is in the manufacturing line or the service line, registration can be obtained for both these areas through the MSME Act. Although this registration is not yet deemed mandatory by the Government, doing so is in one’s best interest because it offers benefits in relation to taxation, setting up one’s business, credit facilities, and loans.
WHY MSME REGISTRATION?
It is easier to get government contracts with an MSME certificate
Under bank loan, 15% import subsidy on fully automatic machinery
The process of getting licenses, approvals and registrations becomes easier regardless of the field of business
Compensation of ISO certificate expenditure
MSME registration aids new entrepreneurs, traders, and business owners in getting low-interest loans
MSMEs can benefit from tariff subsidies and tax breaks
Gets exemption under Direct Tax Laws
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