What is MSME- PMSME stands for Micro, Small and Medium enterprises. Being the backbone of an economy sector. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act.
Benefits of MSME registration
- Priority sector lending
- Power tariff subsidies
- Capital investment subsidies and excise and direct tax exemptions.
- Cheaper bank loans rate.
- Tax rebates
- Cheaper infrastructure
- Form IX: Nomination of Persons by a Company along with the Board Resolution