SSI/MSEC Registration or Small Scale Industry Registration is a registration from the Ministry of Micro, Small and Medium Enterprises. Once a business obtains SSI registration, the business becomes eligible for a number of schemes and subsidies promoted by the Government to boost small businesses in India.
Benefits of obtaining SSI Registration
# Priority sector lending in Banks.
# Reduction in bank loan interest rate.
# Excise exemption scheme.
# Exemption under direct tax laws.
# Statutory support such as reservation.
# Interest on Delayed Payments Act.