MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act.
Small Scale Industry Registration (SSI) Is sought from the Ministry of Micro, Small and Medium Enterprises. SSI is similar to MSME registration in India.Procedure for registration of SSI coul differ from state to state , but procedure for MSME is same in all States in india. MSME /SSI registration is beneficial for availing different types of Government assistance like financial assistance from the Department of Industries, medium and long term loans from State Financial Corporations and other commercial banks, machinery on hire-purchase basis from the National Small Industries Corporation etc.
Small Enterprises Criteria : More than 25 lakhs but less than 5 crores investment in plant and machinery ( Manufacturing Sector). More than 10 lakhs but less than 2 crores investment in plant and machinery .( Service Sector).
Medium Enterprises Criteria : More than 5 crores but less than 10 crores investment in plant and machinery ( Manufacturing Sector). More than 2 crores but less than 5 crores investment in plant and machinery .( Service Sector).
Micro Enterprises Criteria : Less than 25 lakhs investment in plant and machinery.(Manufacturing Sector). Less than 10 lakhs investment in plant and machinery.(Service Sector).
ADVANTAGES OF MSME/SSI REGISTRATION
Collateral free Loans
Special considerations in international trade fairs
Excise/Sales tax Exemption Schemes
Reduction in rate of Interest from Banks
Credit guarantee schemes
50% subsidy for Patent registration
Exemption under direct laws
Protection against delay in payments
Waiver in security deposits for government works
Easy to get Licenses, approvals, registrations
Discounted fees for trademark registration
- Adhar Card (Proprietor/Director/Partner)
- Pan Card (Proprietor/Director/Partner)
- Main Object of Business Entity
- Signed cancel cheque (Name Printed)
- Details of No of Employees
- MOA/ Deed/ LLP Agreement
- Turnover if Business Entity.
- Certificate of incorporation and shopact
What we Do
- Procure documents from Client
- Preparation of Application
- Process Application
STEPS TO REGISTER MSME/SSI
Provide Basic Documents of Directors
Preparation of Application