Government On Granting MSME Status To Dealers

The Government of India is thinking of giving MSME status to dealers. Union Minister Nitin Gadkari said on Tuesday 18th August 2020 “Micro, small and medium-sized enterprises ( MSMEs) comprising manufacturing and service units must be registered in order to take advantage of the benefits and subsidies offered under different government schemes.”

According to Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 currently classifies Micro , Small and Medium Enterprises (MSME) into two Classes::

• Manufacturing Industries.
• Service Enterprises

Government is considering giving giving MSME status to dealers as it will benefit many people who comes under this category. MSME provides many benefits to the startups who are registered under it. For example,low-rate loans, tariff subsidies are some of the benefits provided by the Government. The Udyam registration also helps them to get government tenders.

Prior to this, Government of India has also announced the new process of business registration by the name of Udyam registartion on 26th june .In the time, where everyone is fighting with Panademic Government is continuously working to make the economy stronger by providing benefits to the entrepreneurs.

Those who have already registered are availing the benefits under MSME. To make it reach to more people they are considering giving MSME status to Dealers.

Benefits Of Registering Under MSME For Dealers

CLCSS (credit-related capital subsidy scheme) is valid for MSME registered entity.

Unique exposure to international trade fair

Waiver of Government Security Deposit (EMD) (Useful while participating in tenders)

Concession electricity bills

Waiver of stamp duties and registration fees

ISO certification fees refund