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Legal professionals at BDS Legal Services, will provide the highest quality research within a short timeframe and at a fraction of the traditional costs. Most importantly, our Intellectual Property support services are tailored to meet the individual requirements of each client. Depending on your specific needs, BDS Legal Services will conduct multi-level searches and list the most relevant results.

MSME

MSME- an abbreviation of Micro, Small & Medium enterprises- is the pillar of economic growth in many developed, and developing countries in the world. Often rightly termed as “the engine of growth” for India, MSME has played a prominent role in the development of the country in terms of creating employment opportunities-MSME has employed more than 50 million people, scaling manufacturing capabilities, curtailing regional disparities, balancing the distribution of wealth, and contributing to the GDP-MSME sector forms 8% of GDP. Though India is still facing infrastructural problems, lack of proper market linkages, and challenges in terms of flow of institutional credit, it has seen a tremendous growth in this sector.

Benefits of MSME registration:

  •  If a memorandum is filed by the MSME, then it is liable to timely payments by the buyer.
  • Certain exemptions under Excise Scheme and Direct Tax Laws are provided.
  • Finance from banks is easy to obtain due to the Government support. The lower rate of interests is also observed.
  • Preference is given in Government tenders and a concession in electricity bills is also given.
  • Statutory support is provided. It includes reservation and interests on The Delayed Payments Act.