BDS Legal Services outlined that Indian government offered many advantages for small scale units

MUMBAI, India - May 28, 2019 - PRLog -- BDS Services, database management, and an ISO Certified Company in accordance with GDPR Compliance, is proud to declare one of their sister concern company, the "BDS Legal Services", a leading national law firm in India by offering excellent legal panacea in the chosen practice areas with strong importance on ethics.

BDS Legal Services outlined that the Indian government has offered many advantages for small scale units or medium small and micro enterprises (MSME). In order to be entitled to grab these advantages, any organization should file itself as MSME/SSI enterprise under the MSMED Act. Following is a list of such benefits of acquiring SSI/MSME registration in India.

1. Security Free loans from banks:

According to MSME registration for a service provider, the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) was initiated by the GOI to make accessible security -free credit to the micro and small enterprise section. Both the existing and the new enterprises are eligible to be covered under the scheme. The Ministry of Micro, Small and Medium Enterprises, Government of India and Small Industries Development Bank of India (SIDBI), established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement the Credit Guarantee Fund Scheme for Micro and Small Enterprises.

2. A hefty 50% subsidy on Patent registration

Enterprises that have MSME Registration Certificate can avail 50% subsidy for patent registration by making an application to respective ministry.

3. 1% exemption on interest rate on overdraft

Enterprises that have MSME Registration can avail the benefit of 1% exemption on the interest rate on OD as mentioned in the scheme (this is bank-dependent).

4. Eligible for Industrial Promotion subsidy

Enterprises that have MSME Registration are eligible for Industrial Promotion Subsidy as may be prescribed by the government in this behalf.

5. Protection against delayed payments

The Ministry of Micro, Small and Medium Enterprises gives protection to MSME Registered Business against delay in payments from Buyers and right of interest on delayed payment through conciliation and arbitration and settlement of dispute be done in minimum time. If any micro or small enterprise possess MSME registration, supplies any goods or services, then the purchaser is needed to make a payment on or before the date accepted upon between the purchaser and the micro or small enterprise.

We, at BDS Legal Services, are MSME Registration Consultants in Mumbai and offer excellent support to our clients in obtaining MSME license.

More Info @ https://bdslegalserv.com/Other/Enterprises_registration.html