Small Scale Business Owners in India are at a advantageous Position, As the Indian government nowadays are taking phenomenal steps in improving the conditions of small-scale business units in India.The government is introducing many scheme and privileges that are sure to help in the survival of small businesses in India.
As for India, small-scale industries have contributed more than any other sector for the economic and financial development of the country. Also, most of the employment generated in India is in the small-scale industry sector, therefore SSI Businesses are also helpful in decreasing unemployment ratio in the country. So in this guide we are talking about the SSI Registration benefits. SSI Registration is small scale industry registration which is also called now udyog aadhar registration.
Small Scale Industry registration benefits
The Key Benefits that a Small Scale Units enjoy when they obtain SSI registration are as follows:
1) Subsidy for Participating in Trade Fairs.
National Small Industries Corporation Ltd. (NSIC), is a Government body under Ministry of Micro, Small and Medium Enterprises (MSME). NSIC primary focus is on promoting, aiding and fostering the growth of SSI and MSME businesses in India.As the Marketing is a Big contributing factor in the success of any business enterprises anywhere in the world.Nsic hands out big assistance services to SSI units regarding marketing. Marketing Facility is provided in form of the Exhibition space to SSI Units in various exhibitions at lower rates By Nsic to enable them to exhibit their products and services and create a market for their products and services that they are offering .
2) ISO Certification Subsidy.
The Owners of SSI units are provided by a subsidy for getting a ISO Certifications by the Government of India , wherein the cost of acquiring ISO Certifications like ISO 9000 and ISO 14001 is subsidized for the SSI Units.
3) Subsidy for Bar Code.
SSI Units are provided a subsidy by the Ministry of MSME In India for getting Bar Codes for the products and services.
4) Benefits from Banks.
The banks and financial institutions that are operating in India have also created some of the special schemes for SSI Units .These schemes usually comprises of the priority sector lending,Collateral free loan facility, easy repayment of loan option and relaxation in other loan related affairs is also available for Small-scale businesses who have SSI Registration.
5) Taxes Benefits
In accordance with the business operated Under the SSI units, it may enjoy an excise exemption scheme as well as an exemption from certain direct taxes and indirect taxes under various tax laws in India.
6) State, Central and CGTMSE Benefits
Subsidies on power, taxes and entry to the state-run the industrial estates are provided by the Central and states government time to time to the SSI units that have SSI registration.SSI Units also enjoys sales tax exemption in most states and they also get purchase preference on the goods that are produced by them from the governments In India . CGTMSE Scheme under which SSI Businesses can obtain Business Loan without giving any Collateral security is also introduced by the Government of india for SSI Units..
7) other benefits given Small Scale industries who have SSI Registration
some other special benefits are also provided to the businesses that have SSI registration which comprises of assistance such as assistance in obtaining finance, help in the marketing of products and services, technical guidance and support such as training and technical skill development, technology upgradation, Safeguarding SSI Units from any manipulation and in legal and compliance matters etc. Business registered under SSi are given higher preference in terms of government license and certification and also get first preference in Government Tenders.
8) Tax rebates
SSI Units that have SSI Registration are given multiple income taxes and capital gains tax subsidies from the government of India.
