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Registration of a firm under the Act is a medium to enjoy the benefits available to SMEs in terms of easy finance availability from Banks, preference in procuring Government tenders, stamp duty and octroi benefits, concession in electricity bills, timely receipt of payments from the buyers or debtors, reimbursement of ISO Certification expenses and so on. All sectors and classes of enterprises, whether Trading, Service or Manufacturing, Proprietorship, Hindu undivided family, Association of persons, Co-operative society, Partnership firm, Company or Undertaking, by whatever name called can apply for the registration and get qualified for the benefits provided under the Act.
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