Benefits of Registration of SSI

Benefits of Registration of SSI:-

The registration of an SSI unit is not compulsory. The main purpose of registration is to avail the incentives provided under the registration of an SSI unit and also the support services provided under it, either by the state or the central government. The regime of incentives offered by the central government generally contains the following:

• Ø Credit prescription (priority sector lending), differential rates of interest etc.
• Ø Excise exemption scheme.
• Ø Exemption under Direct Tax Laws.
• Ø Statutory support such as reservation and the interest on Delayed payments Act.

States/Union Territories have their own package of facilities and incentives for small scale industries. They relate to:

• Ø Development of industrial estates.
• Ø Tax subsidies.
• Ø Power tariff subsidies.
• Ø Capital investment subsidies and other support.