DIC Registration is for those who are engaged in Manufacturing of products and services provider.
Manufacturer and service provider has to be register with DIC registration. This is very useful for those to avail benefits from government.
As per MSME Act 2006 ‘Small Scale Industry registration SSI unit/ DIC registration has been amended as per plant & machinery cost Rs. in lacs for Manufacturer & Service Provider. As per New amendment in 2018 year now it will be considered as depending upon turnover for Manufacturer and services provider like
According to the government’s new definition, businesses with revenue of as much as Rs5 crore will be called a micro enterprise, those with sales between Rs5 crore and Rs75 crore will be deemed as small and those with revenue between Rs. 75 crore and Rs250 crore will be classified as medium-sized enterprises.
Advantages of SSI or MSME Registration
Online MSME registration enables the enterprises to claim various benefits offered by the Governments under the MSMED Act. Here are benefits to claim through online SSI registration.
Subsidized Loan Support
The finance can be availed easily based on this registration with lower rate of interest. To aid these financial needs of MSME sector in better way, the Government has profoundly participated to ease the fund raising through registered institutions such as SIDBI (Small Industries Development Bank of India) and State Financial Corporations. Government also extends the financial assistance to MSME in form of Pradhan Mantri MUDRA Yojana (launched in April, 2015). Micro Units Development & Refinance Agency Limited (MUDRA) is set up with for refinancing activities relating to micro units. Read details at MUDRA Loan – Financial Assistant to MSME.
Rebate on Trademark Application
The Businesses which has obtained the MSME Registration certificate can get 50% rebate of the Government Fees during the registration of trademark. The Government fee prescribed for the partnership firms, LLPs and Companies etc. is Rs 9000/- for online Trademark Registration Application. In given case, said entity can get itself registered under the Act and claim rebate based on the MSME certificate.
Repayment Period
With the implementation of the Goods and Services Tax laws the existence of the micro, small and medium enterprises is formalized through their registration. The said formalization has adversely affected the cash flow that led to difficulties in repayment of the obligations. Reserve Bank of India, the Apex bank has liberalized the criteria of the asset classification for MSME enterprises registered under GST as on 31st Jan 2018. If the amount payable to banks or other financial institutions are overdue for a period not exceeding 180 days, it is classified as Standard Assets by the banks. Being said, to get benefited by above condition, the said enterprise shall also be accounted as Standard Assets as on 31st day of August, 2017.
Other benefits and Schemes
- The registered entity can get protection against the delayed payments from the buyers and the buyers are also liable to make payment on time.
- The MSME enterprises may manufacture any product. However, there is a list of 20 items, which are reserved exclusively for this sector of enterprises.
- A separate Council ‘Micro and Small Enterprises Facilitation Council’ is established for timely resolution of disputes with the consumers
- Market Development Assistance for MSME’s
- Upgradation support in the technology and Quality support for the MSME
- Online sanction of loans is also planned through Trade Electronic Receivable Discounting System (TReDS) platform
- Subsidies from government for small business for cold chain
- Tariff subsidies on Power, Excise exemption and regulations, Subsidy on Capital investment, and several other advantages and benefits.Services provided in
- Our services for DIC registration is for Information technology, IT units, computer software development, auto ancillary companies located in Mumbai, Thane, Pune and various locations and district in Maharashtra state.
