Benefits of MSME
1. Due to the registration, the bank loans become cheaper as the interest rate is very low around ~ 1 to 1.5%. Much lower than interest on regular loans.
2. There is a One Time Settlement Fee for non-paid amounts of MSME.
3. It also allowed credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years
4. There are many government tenders which are only open to the MSME Industries.
5. Once registered the cost getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available.
6. They get easy access to credit.
7. Business registered under MSME are given higher preference for government license and certification.