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msmeregin · 6 months
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Blogs related to MSME registration
All about MSME Udyam Registration
What do you mean by Udyam Registration
Udyam Registration will replace Udyog Aadhar Registration. This registration is a simple process for all units that are eligible to be covered under the GOVERNMENT OF INDIA'S new MSME definition.
By registering under the New MSME Legislations, any startup and MSME company can take advantage of the different government initiatives. msmeregistrar.org will quickly and easily register you as an udyam Company. This udyam Registration will provide you with additional privileges to take advantage of government schemes.
Udyam's definition
According to the government's statement, an MSME will be known as udyam from July 1, 2020, and the enrolment or registration procedure would be known as udyam Enrollment Registration.
Learn more at: https://msme-registration.in/blog/
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udyam09 · 6 months
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The right way to grow your business!
MSME Registration vs. Udyam Registration: Key Differences for Your Business
In India, the government has introduced various schemes and initiatives to promote the growth of small and medium-sized enterprises (SMEs) and micro, small, and medium enterprises (MSMEs). These initiatives aim to provide support, incentives, and recognition to businesses operating in this sector. Two of the most prominent registration options available for these businesses are MSME Registration and Udyam Registration. While they serve similar purposes, they have distinct differences that can significantly impact your business. In this article, we will delve into the key differences between MSME Registration and Udyam Registration, helping you make an informed choice for your business.
 Understanding the Importance of MSMEs in India
Before we explore the differences between MSME Registration and Udyam Registration, it's essential to understand the significance of MSMEs in the Indian economy. Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in driving economic growth, creating employment opportunities, and fostering entrepreneurship in the country. They contribute significantly to India's GDP and are known for their agility and ability to adapt to changing market dynamics.
Recognizing the importance of MSMEs, the Indian government has been proactive in implementing policies and schemes to support their growth. MSME Registration and Udyam Registration are two such initiatives that provide businesses with several benefits.
 MSME Registration: A Quick Overview
MSME Registration is a process that involves the registration of your business as a micro, small, or medium enterprise with the government. The primary purpose of MSME Registration is to provide businesses with a formal recognition of their status as an MSME, and it enables them to avail various benefits and incentives. It is an optional registration that is typically sought by businesses looking to tap into the advantages offered to MSMEs.
Here are some of the key benefits of MSME Registration:
1. Access to Credit: MSMEs with a valid MSME Registration certificate can avail loans at lower interest rates and with reduced collateral requirements from banks and financial institutions.
2. Government Subsidies: The government offers subsidies and incentives to registered MSMEs, making it easier for them to invest in technology and infrastructure upgrades.
3. Preference in Government Tenders: MSMEs often receive preferential treatment in government procurement processes, giving them a competitive edge.
4. Income Tax Exemptions: Some MSMEs may be eligible for income tax exemptions or deductions under various government schemes.
5. Ease of Compliance: Registered MSMEs benefit from simplified compliance procedures, making it easier to run their businesses.
6. Priority Lending: Priority sector lending from banks can be accessed by registered MSMEs, aiding in their financial stability.
Udyam Registration: A New Paradigm
Udyam Registration is a relatively recent development that supersedes the earlier process of MSME Registration. Introduced in September 2020, Udyam Registration is an online registration portal for MSMEs. The key objective of this registration is to simplify the registration process and ensure that more businesses can benefit from MSME status.
Here are the essential features of Udyam Registration:
1. Online Process: Udyam Registration is entirely online, making it a more convenient and accessible option for businesses.
2. Aadhar Integration: Businesses can register using their Aadhar number, simplifying the registration process further.
3. Self-Declaration: One of the significant differences between Udyam and MSME Registration is that Udyam relies on self-declaration by the business owner, reducing the need for extensive documentation.
4. No Restriction on Investment: Udyam Registration removes the previous distinction between manufacturing and service-based industries, making it more inclusive.
5. Pan India Validity: The Udyam Registration certificate is valid across India, ensuring uniformity in benefits and recognition.
6. Upgradation: Udyam Registration also offers a process for businesses to upgrade their status from micro to small to medium as they grow.
 Key Differences Between MSME Registration and Udyam Registration
Now, let's delve into the key differences between MSME Registration and Udyam Registration to help you understand which one is right for your business:
 1. Documentation and Self-Declaration:
- MSME Registration: The traditional MSME Registration process involves the submission of various documents, such as business PAN, Aadhar, and financial statements. It can be more time-consuming due to the documentation requirements.
- Udyam Registration: Udyam Registration is based on self-declaration by the business owner, significantly reducing the documentation burden. This makes it more accessible for businesses.
 2. Investment Limit:
- MSME Registration: MSME Registration had investment limits for both manufacturing and service-based industries. For micro-enterprises, the limit was up to ₹25 lakhs, for small enterprises, up to ₹5 crores, and for medium enterprises, up to ₹10 crores.
- Udyam Registration: Udyam Registration removes the investment limit distinction, allowing businesses of all types and sizes to register.
 3. Aadhar Integration:
- MSME Registration: While Aadhar was used in MSME Registration, it was not the primary mode of registration.
- Udyam Registration: Udyam Registration emphasizes Aadhar integration, making it easier for business owners to complete the registration process.
 4. Categorization:
- MSME Registration: Under MSME Registration, businesses were categorized as micro, small, or medium based on their investment in plant and machinery or equipment.
- Udyam Registration: Udyam Registration uses different criteria for categorization, considering turnover instead of investment.
 5. Online Process:
- MSME Registration: The traditional MSME Registration process was often carried out through government offices and required physical visits.
- Udyam Registration: Udyam Registration is entirely online, making it more convenient and accessible.
 6. Validity:
- MSME Registration: MSME Registration had to be renewed periodically, and the validity period varied.
- Udyam Registration: Udyam Registration certificates are valid for a lifetime, providing long-term benefits.
 7. Upgradation:
- MSME Registration: MSME Registration did not have a clear process for businesses to upgrade their status as they grew.
- Udyam Registration: Udyam Registration offers a simple process for businesses to upgrade their status from micro to small to medium as they expand.
 8. Coverage:
- MSME Registration: MSME Registration was available to businesses in specific sectors and industries, excluding certain service-based businesses.
- Udyam Registration: Udyam Registration is more inclusive and covers a broader range of industries, including service-based businesses.
 9. Recognition:
- MSME Registration: MSME Registration was widely recognized and accepted, but the benefits might vary from one state to another.
- Udyam Registration: Udyam Registration aims to provide uniform recognition and benefits across India, as it is a nationwide program.
 Choosing the Right Registration for Your Business
Now that you are aware of the key differences between MSME Registration and Udyam Registration, the crucial question is, which one is right for your business? The choice depends on several factors, including your business type, size, and objectives. Here are some guidelines to help you decide:
1. Udyam Registration for Sim
plicity: If you are looking for a more straightforward and online registration process with reduced documentation, Udyam Registration is the way to go. It is particularly beneficial for startups and small businesses.
2. MSME Registration for Existing MSMEs: If your business is already registered under the traditional MSME Registration and you are satisfied with the benefits and recognition it provides, you may not need to transition to Udyam Registration immediately.
3. Udyam Registration for Inclusivity: If your business is a service-based enterprise or falls outside the traditional investment limits, Udyam Registration offers a more inclusive option.
4. Upgradation with Udyam: If your business has grown and you wish to upgrade your MSME status, Udyam Registration provides a mechanism to do so.
5. Consultation with Experts: If you are uncertain about which registration is best for your specific business, consider seeking advice from legal and financial experts who can provide tailored guidance.
6. Compliance and Documentation: Keep in mind that Udyam Registration is more lenient when it comes to documentation, while MSME Registration may require more paperwork. Ensure that you have the necessary documents ready.
7. Long-term Considerations: Udyam Registration offers a lifetime validity, making it a good choice if you want a hassle-free, long-term solution.
8. Uniform Recognition: If you want uniform recognition and benefits across all states in India, Udyam Registration may be the preferred choice due to its pan-India validity.
 Conclusion
In the dynamic business landscape of India, it is essential for entrepreneurs and business owners to stay informed about government initiatives that can benefit their enterprises. MSME Registration and Udyam Registration are two vital tools for businesses looking to avail of the advantages and recognition that come with being an MSME. Understanding the key differences between these two registration options is critical in making the right choice for your business.
While MSME Registration has been the traditional route for businesses to gain MSME status, Udyam Registration offers a more streamlined and inclusive process, with a stronger focus on online accessibility. The choice between the two registrations should be based on your business's specific needs, size, and growth plans. Regardless of which registration you choose, both are aimed at fostering the growth of small and medium-sized enterprises in India, and they play a vital role in driving economic development and innovation in the country.
In conclusion, MSME Registration and Udyam Registration are not just about obtaining a certificate; they are about accessing a plethora of benefits and recognition that can propel your business forward. Choose wisely, keeping your business goals and needs in mind, and leverage the support provided by the government to fuel your entrepreneurial journey in the diverse and vibrant Indian business landscape.
Learn more at: https://registrationmsme.com/
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raileurta · 6 months
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Just remembered something and turned it into a meme.
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financesevaloan · 2 years
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Machinery Loan
Whether it’s a new business, one that is in its initial stage of development, or one that is existing business/ growing at a steady rate, advanced machinery and equipment are the key to consistent productivity and better sales. Not only do they help in reducing the need for manpower but also help in meeting the peak season demand and this ensures greater sales and profits. Enterprises whose working capital is insufficient for equipment financing can opt for a what is machinery loan.
What is a Machinery Loan?  
A machinery loan is a varied type of business loan that is availed for the purpose of financing the purchase of new equipment or machinery for a business.
Modern business tools and state of state-of-the-art the art equipment are a great way to expand your business but finding the right financing for them can be difficult at times.
A machinery loan makes equipment financing easy and removes any roadblocks in achieving business success.  
Key Offerings:
Maximum Loan Amount- Under machinery loan, it offers a wide range of customized loan options ranging from Rs.5 lakh to Rs.75 lakh to meet machinery requirements.
Loan Tenure – A machinery loan interest rate can be obtained for a tenure that ranges from 12 months (one year) to 36 (three years).
No Collateral Needed – Getting a such loan comes with no collateral facility, which means you will not be required to provide collateral.
Easily Qualifying Eligibility – When it comes to machinery loans, the eligibility criteria are easier as compared to other loans and it increases your chances of qualification.
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cadeveshthakur · 4 months
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Benefits for Micro & Small Enterprises under MSME Act|All about Section 43B(h)|Detailed Video
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vakilkarosblog · 7 months
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NABARD, the National Bank for Agriculture and Rural Development, plays a pivotal role in facilitating Section 8 Microfinance Company Registration. It serves as a crucial regulatory and financial institution in India, overseeing the development of microfinance entities. Through its expertise and resources, NABARD empowers Section 8 companies, ensuring compliance with regulatory standards for microfinance operations. This support is instrumental in enabling these companies to effectively serve underserved communities, fostering economic growth and financial inclusion. "Microfinance Company Registration" refers to the formal process of establishing such entities, while "Section 8 Microfinance Company Registration" specifically pertains to non-profit organizations dedicated to social welfare and financial inclusion initiatives. Read More
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What is Udyam MSME Registration?
What is Udyam MSME Registration? https://indialicense.in/what-is-udyam-msme-registration/
#udyam #msme #udyamregistration #msmeregistration #udyammsme
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What is Udyam MSME Registration?
What is Udyam MSME Registration? https://www.linkedin.com/pulse/what-udyam-msme-registration-sameer-mehta/
#udyam #msme #udyamregistration #msmeregistration #udyammsme
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india-consultants · 2 years
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What is Udyam MSME Registration?
What is Udyam MSME Registration? https://www.linkedin.com/pulse/what-udyam-msme-registration-sameer-mehta/
#udyam #msme #udyamregistration #msmeregistration #udyammsme
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msmeregin · 6 months
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Empowering Growth: A Guide to Harnessing Government Schemes and Subsidies through MSME Registration in India
Introduction:
Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the Indian economy, contributing significantly to employment generation and industrial growth. Recognizing the pivotal role of MSMEs, the Indian government has designed various schemes and subsidies to foster their development. This guide explores how MSMEs can unlock a plethora of opportunities by registering and strategically leveraging government initiatives.
Understanding MSME Classification:
1.1 Significance of MSME Classification
Before delving into government schemes, it's essential to comprehend the criteria for classifying businesses as micro, small, or medium enterprises. These classifications are based on the amount invested in plant and machinery or equipment and the turnover of the enterprise. Accurate classification is crucial as it determines eligibility for specific benefits.
The MSME Registration Process:
2.1 Online Registration on the Udyam Portal
The Udyam Registration portal (https://udyamregistration.gov.in/) is the gateway for MSME registration. Business owners can navigate the user-friendly interface and provide necessary details, including PAN, Aadhaar, and other relevant information. The online registration process is streamlined, making it accessible for entrepreneurs across the country.
2.2 Offline Registration at District Industries Centres (DIC)
For those who prefer traditional methods, offline registration can be pursued at District Industries Centres (DIC) or local MSME offices. Business owners can obtain the required forms, submit a duly filled application, and provide supporting documents for verification.
2.3 Documentation for MSME Registration
Critical documentation includes the Aadhaar card of the business owner(s), PAN card of the business, address proof, and details of plant and machinery or equipment. Ensuring the completeness and accuracy of these documents is crucial for a smooth registration process.
Benefits of MSME Registration:
3.1 Financial Assistance and Credit Facilities
MSME registration opens doors to financial assistance and credit facilities at favorable terms. Recognizing the importance of these enterprises, financial institutions offer loans with lower interest rates, easing the financial burden on entrepreneurs.
3.2 Market Access and Government Procurement Preferences
One of the significant advantages of MSME registration is the preferential treatment in government procurement. MSMEs are often given priority in government tenders, providing them with a valuable opportunity to secure contracts and expand their market reach.
3.3 Technology Upgradation and Subsidies
MSMEs are the driving force behind innovation and technology adoption. The government, through various schemes, encourages MSMEs to upgrade their technology by offering subsidies for the adoption of new and advanced processes. This not only enhances the efficiency of the enterprises but also contributes to the overall growth of the sector.
Key Government Schemes and Subsidies
4.1 Credit Linked Capital Subsidy Scheme (CLCSS)
The CLCSS is a flagship scheme aimed at promoting technology upgradation by providing capital subsidies to MSMEs. This scheme facilitates access to credit for purchasing new machinery and equipment, thereby enhancing productivity and competitiveness.
4.2 Pradhan Mantri Employment Generation Programme (PMEGP)
Designed to promote self-employment, the PMEGP is a credit-linked subsidy program that encourages entrepreneurs to set up micro-enterprises by providing financial assistance. This scheme not only creates employment opportunities but also fuels economic growth at the grassroots level.
4.3 Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGMSE)
The CGMSE is a game-changer for MSMEs, offering collateral-free credit facilities. Entrepreneurs can avail of loans without providing traditional collateral, making it easier for them to access the much-needed capital for business expansion.
Udyam Registration: Revised Criteria
5.1 Micro, Small, and Medium Classifications
As of July 1, 2020, the government revised the criteria for classifying enterprises. Micro-enterprises are those with investments up to Rs. 1 crore and turnover up to Rs. 5 crore. Small enterprises can have investments up to Rs. 10 crore and turnover up to Rs. 50 crore, while medium enterprises can have investments up to Rs. 50 crore and turnover up to Rs. 250 crore. Adhering to these classifications is vital for accessing various schemes and subsidies.
Supportive Institutions
6.1 District Industries Centres (DIC)
District Industries Centres play a pivotal role in supporting MSME development. They act as local agencies that provide guidance, information, and assistance in navigating the intricacies of government schemes. Entrepreneurs are encouraged to engage with their local DIC for personalized support.
6.2 National Small Industries Corporation (NSIC)
The NSIC is another key institution dedicated to fostering the growth of MSMEs. It offers a range of support services, including marketing assistance, raw material assistance, and credit facilitation. MSMEs can leverage the expertise of the NSIC to enhance their competitiveness in the market.
Technology and Quality Upgradation Support
7.1 Lean Manufacturing Competitiveness Scheme (LMCS)
To boost competitiveness, the government introduced the LMCS, focusing on promoting lean manufacturing techniques. MSMEs can avail of financial support to implement these techniques, leading to improved efficiency and reduced operational costs.
7.2 Quality Management Standards & Quality Technology Tools (QMS/QTT)
Attaining product certifications is crucial for gaining consumer trust and accessing new markets. The government supports MSMEs in obtaining certifications through the QMS/QTT scheme, emphasizing the importance of quality in manufacturing processes.
Research and Development (R&D) Support
8.1 Support for Entrepreneurial and Managerial Development of MSMEs
Recognizing the need for continuous learning and skill development, the government provides support for entrepreneurial and managerial development. MSMEs can access training programs to enhance their leadership and management skills, fostering sustainable growth.
8.2 Financial Support to MSMEs in ZED Certification Scheme
The Zero Defect Zero Effect (ZED) Certification Scheme encourages MSMEs to adopt environmentally friendly manufacturing processes. Financial support is provided to enterprises striving for ZED certification, aligning business practices with global sustainability standards.
Digital MSME Scheme
9.1 Assistance for Technology Upgradation
In the digital age, technology plays a pivotal role in the success of businesses. The Digital MSME scheme aims to assist MSMEs in adopting information and communication technology (ICT). Financial support is provided to encourage the integration of digital tools for improved operational efficiency.
9.2 Importance of Digital Transformation
Embracing digital transformation is not just a trend but a necessity for MSMEs looking to stay competitive. The Digital MSME scheme empowers businesses to streamline processes, reach a wider audience, and adapt to the changing business landscape.
Export Promotion and Market Development
10.1 Market Development Assistance Scheme for MSMEs
Global markets offer immense opportunities for MSMEs to expand their reach. The Market Development Assistance Scheme provides financial support for participating in international trade fairs and exhibitions. This exposure facilitates networking, collaboration, and the exploration of new business avenues.
10.2 Strategies for Market Expansion
Entering international markets requires strategic planning. MSMEs can leverage the Market Development Assistance Scheme to devise and execute market expansion strategies, ensuring a sustainable presence on the global stage.
Skill Development Initiatives
11.1 Technology and Quality Upgradation Support under CLCSS
Skill development is at the core of sustainable business growth. The CLCSS not only provides financial support for technology upgradation but also emphasizes skill development. MSMEs can invest in training programs to enhance the capabilities of their workforce.
11.2 The Role of Skill Enhancement
A skilled workforce is an invaluable asset for any business. MSMEs can benefit from government support by focusing on skill enhancement, creating a workforce that is adaptable, efficient, and capable of driving innovation.
Challenges and Solutions
12.1 Lack of Awareness
Challenge: Many MSMEs are unaware of the numerous government schemes available to them.
Solution: Conduct awareness campaigns through government agencies, industry associations, and digital platforms. Establish a dedicated information dissemination system to keep MSMEs informed about the latest opportunities.
12.2 Complex Application Processes
Challenge: Cumbersome application procedures can discourage MSMEs from applying for schemes.
Solution: Simplify application processes by introducing user-friendly online platforms, providing step-by-step guides, and offering dedicated helplines or assistance centers to address queries.
Monitoring and Evaluation
13.1 Performance and Credit Rating Scheme for MSMEs
To enhance creditworthiness, the government has introduced the Performance and Credit Rating Scheme. MSMEs can undergo credit rating assessments, showcasing their financial stability and reliability to potential investors and lenders.
13.2 Importance of Continuous Evaluation
MSMEs should view monitoring and evaluation as ongoing processes. Regularly assess the impact of government schemes on business operations, make necessary adjustments, and stay informed about updates and changes to maximize benefits.
MSME registration is a crucial step for small business owners looking to unlock a plethora of benefits and opportunities. From financial support and government incentives to market access and networking opportunities, the advantages of being a registered MSME are manifold. Governments worldwide are recognizing the significance of MSMEs in driving economic growth and employment, and as a result, initiatives and support systems for small businesses continue to evolve. Small business owners should seize the opportunity to register as an MSME to position their enterprises for sustainable growth and success in an increasingly competitive business landscape.
Conclusion:
In conclusion, MSME registration in India is not just a regulatory requirement; it is a gateway to a myriad of opportunities provided by the government. By understanding the classifications, navigating the registration process, and strategically leveraging the array of schemes and subsidies available, MSMEs can position themselves for sustainable growth. The key lies in staying informed, actively participating in supportive networks, and embracing the spirit of innovation and continuous improvement that defines successful MSMEs in India. The government's commitment to fostering the growth of these enterprises reflects a collective effort to build a robust and resilient economic foundation for the nation.
Learn more from:  https://msme-registration.in/
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don-lichterman · 2 years
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Greater Cooperation Mooted Between Punjab Govt-Industry For ...
Greater Cooperation Mooted Between Punjab Govt-Industry For …
(MENAFN– KNN India) Greater cooperation mooted between Punjab govt-industry for sustainable development of MSME Clusters Chandigarh, July 30 (KNN) The Punjab government has planned to increase its support towards its industry to achieve the sustainable development of MSME clusters.  The need for the industry and government to work together for it was highlighted on Friday by Harpal Singh Cheema,…
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khushboo121 · 2 years
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financesevaloan · 2 years
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Machinery Loan
In the present day, technology plays an important role in developing business growth. But in order to see your business expand and help you make profits; you will look for the latest what is machinery loan which ensures that you are able to build your business the way you want too.  
This is where you can make the best use of machinery loans which allow you to either purchase new machinery or upgrade your existing machinery/equipment.  
Machinery loan comes at an attractive rate of interest and flexible repayment tenure to repay your loan conveniently.  
Highlights of Machinery Loan
You can avail a loan up to 10 Crores
The repayment tenure ranges from 12 – 120 months
You can also get loan up to 3 Crores without collateral security
This loan can be used as working capital or equipment finance
Machinery loan for startup is an additional benefit for new businesses
Eligibility criteria required for Machinery Loan
If you are businessman or a trader and own small and medium sized business, then you can apply for a machinery loan interest rate scheme
As an applicant your age group should be between 25 to 65 years
Your business must exist for at least 3 years
Your business should have its income tax filed for at least 1 year
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shrutichugh · 2 years
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cadeveshthakur · 2 years
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Credit Guarantee Fund Scheme for Micro and Small Enterprises initiative of Central Government to promote MSMEs
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maurvishadvisors · 1 month
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Smooth sailing through registrar of company filings with our expert team by your side. ✍ ~ ~ ~ ✅ Company Registration ✅ GST Registration & Return ✅ Trademark Registration ✅ Income Tax Return ✅ FSSAI Registration
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