MSME Registration

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MSME Registration

Overview

MSME or Micro, Small & Medium Enterprises are small and medium-sized enterprises that come under SSI / MSME Registration category. MSME has a vital role in the development of the Indian economy. The Indian economy is mostly dependent on agriculture and small businesses. MSME is the main backbone of the economy and is extremely encouraged by the government. For MSME Registration, the government of India offers many subsidies, schemes & incentives to MSMEs/SSIs to support it through the MSMED Act. The MSMED Act offers measures for promotion, growth, development, and enhancement of competitiveness of MSME and the creation of a National Board for MSME Registration.

To obtain various benefits, schemes, incentives, and subsidies issued by the government, MSME entrepreneurs must register themselves under the SSI Registration / MSME Registration Act with the concerned department. MSME registration is also essential for creating accountability and transparency in the micro, small, and medium enterprises.

Micro Small and Medium Enterprises have been specified under the MSME Act, 2006. As per the Act, MSME has been mainly divided into two categories:

  1. Manufacturing Enterprise
  2. Service Enterprise

They are well-established in term of investment in Plant and Machinery/ Equipment as given below:

  • Manufacturing Enterprise

    Under Manufacturing Enterprise, Micro invest about 25 lakhs, small-size businesses invest less than five crores whereas, Medium-sized businesses invest less than ten crores.

  • Service Enterprise

    Under Service Enterprise, Micro-sized businesses invest less than ten lakhs, small-sized businesses invest less than two crores, whereas Medium-sized businesses invest less than five crores.

They are well-defined in term of investment in Plant and Machinery/ Equipment as below:

Type of MSME Micro Small Medium
Manufacturing Enterprises Rs. 25 lakhs Less than Rs. 5 crores Less than Rs. 10 crores
Service Enterprises Less than Rs. 10 lakhs Less than Rs. 2crores Less than Rs. 5 crores

Benefits of MSME Registration

Registration of Micro, Small and Medium Enterprises(MSME) under MSMED Act is a very effective tool to enjoy the incentives provided by the Centre, which usually include the following:

  • Multiple Tax Rebates
  • Easy finance availability from Banks, without security requirement
  • Excise Exemption Scheme
  • Preference in procuring Government tenders
  • Concession in electricity bills
  • Stamp duty and Octroi benefits
  • Reservation policies to manufacturing/production sector enterprises
  • Subsidy on ISO Certifications
  • Exemption under Direct Tax Laws.
  • Subsidy on NSIC Performance and Credit ratings
  • Legal support like reservation and the Interest on Delayed Payments.
  • Financial support for setting up testing facilities through NSIC
  • Reimbursement of ISO Certification Expenses
  • Registration with NSIC
  • Participation in Government Purchase registrations

Checklist

Before you continue to apply for the MSME Registration Application, remember the following important checklist. Registration will be processed further only when you meet one or more of the below-mentioned criteria:

  • You must be a sole proprietor, or
  • You must work with other persons in partnership, or
  • You have co-operative societies,
  • You must belong to or are part of Hindu Undivided Family, or
  • You work as or have a partnership firm with another party in an association, or
  • You have a One-person company, or
  • You should have a limited liability company, or
  • You will have a private limited company, or
  • You should have a production company that produces materials, or
  • Any other undertaking

Three Easy Step Process

There is an Three Easy Step Process to register MSME online and get MSME registration number

  • Application Drafting

    Submit a draft, Make payment

  • Processing

    Our CA will register the application online

  • Certificate

    Once approved, you will get an MSME certificate on your registered email address.


Documents Required For MSME Registration

We can classify the documents needed for the process of MSME registration into four categories:

Basic Information
  • PAN Card
  • Aadhar Number
  • NIC Code
  • Account Number with IFSC Code
  • Data on the number of employees and required date of commencement of business.
Documents in case of Registered and Unregistered Partnership Firm

In the case of an unregistered Partnership Firm, you will be expected to give Partnership Deed. On the other side, in the case of a Registered Deed, a Registration Certificate is needed.

Documents in case of a company

Documents that are needed in case of a company are as follows:

  • Articles of Association(AOA)
  • Memorandum of Association(MOA)
  • Copy of board decision allowing a director to sign in the MSME Application.
  • Copy of the resolution passed in a general meeting of the company
  • Certificate of Incorporation
Other Documents
  • Address proof of the business
  • Sales and Purchase Bill
  • Copy of Industrial License
  • Bills and receipts on purchase of machinery

Frequently Asked Questions ?

MSME is the short word for Micro Small Medium Enterprises. Currently, the ministry of MSME is issuing the certificate in the name of Udyog Aadhaar registration. The MSMED Act, also called Micro, Small and Medium Enterprises Development Act, 2006. MSME Udyog Aadhaar is an exclusive 12 digit government identification number given by MSME Ministry.

In 2015, the MSME department converted the name of the MSME certificate to a UdyogAadhaar certificate with the specific reference number of UAN number. Thus the MSME certificate and UdyogAadhaar certificate are the same.

SSI/MSME registration is optional. Businessmen and entrepreneurs typically get this done to use the benefits provided under it. The registration process is quick and straightforward. You can easily use it ( you have a manufacturing plant or a commercial area where you provide services); various businesses choose it over other registrations.

  • Business Address Proof
  • Sale Bill and Purchase Bill copy
  • Partnership Deed/ AoA and MoA
  • Copy of Licenses and Machinery Purchased bills.

Yes, the Aadhaar number is compulsory for doing online MSME registration.

Usually, it takes one day to obtain a certificate

You will get MSME registration through MeraLegal for Rs 999 only. For Today’s deal, you can call 9028055500.

It is a valid certificate for a lifetime; no renewals needed.

Yes, both new and existing business can apply for MSME registration and obtain the certificate and can use the benefits of Udyog aadhar registration

All the institutions and banks identify MSMEs. Unique MSME schemes are planned to identify them as well. Banks prefer MSMEs rather than normal enterprises to lend loans. The probability of getting a sanctioned loan is much higher in the case of an MSME loan. The interest rate of bank loans will also be cheaper. There may also be special treatment in case of a delay in repayment.

Many state governments favor enterprises that are registered under the MSMED Act. Subsidy like taxes, on power, and much more is provided by state governments. In most of the states, sales tax exemption provided purchase choices are given on goods produced. The enterprise may also enjoy the excise exemption scheme and freedom from certain direct taxes in the starting period of your business.