The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, commonly known as the MSME Act, was enacted by the Government of India to promote, facilitate, and support the growth of micro, small, and medium-sized enterprises (MSMEs). At Just Advo, we believe that legal awareness is key to business success, especially for small and emerging entrepreneurs.

This Act classifies enterprises based on investment in plant & machinery and annual turnover. It enables businesses to register as MSMEs, unlocking a host of benefits including priority sector lending, tax subsidies, capital and interest subsidies, and easier access to credit. Most importantly, the Act provides protection against delayed payments, allowing MSMEs to charge compound interest if buyers delay payment beyond 45 days.

By registering under the MSME Act, businesses can also avail benefits in government tenders, enjoy exemptions under direct tax laws, and receive support for technology upgradation and marketing assistance

At Just Advo, we help businesses understand their eligibility, benefits, and legal rights under the MSME Act. From registration and compliance to legal remedy for delayed payments, our expert legal advisors guide you every step of the way.

If you're an entrepreneur or small business owner, the MSME Act is your shield and support system. Take full advantage of what the law offers to strengthen and scale your business.

Need assistance with MSME registration or legal issues related to it? Connect with Just Advo today—Your Legal Partner in Growth.