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• MSME Registration is a registration given to Micro, Small and Medium enterprises by the government. This form of registration gives them a legal identity of an MSME.

 

•  It has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades.

 

• MSMEs not only play a crucial role in providing large employment opportunities at a comparatively lower capital cost than the large industries but also help in the industrialization of rural and backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth.

 

• The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries 

• MSME certificate is valid as long as the business is operational. Moreover, it is issued for a lifetime as long as the classification criteria are met. 

• Since the composite method of categorization is put in place, businesses are subject to cancellation in case the annual turnover is exceeded and no longer fits in the category of small businesses.  

 

Many entrepreneurs are not even aware of what category their enterprise falls in. You need not to worry if you are one such entrepreneur. What is micro, small and medium enterprise? The Classification of MSME Certificate is based on business categories like Manufacturing or Service enterprise.

 

 

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WHO CAN APPLY FOR MSME REGISTRATION

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• Sole proprietor

• Partnership firm

• Hindu Undivided family

• Limited Liability Partnership

• One Person Company

• Limited Company

• Private Limited Company

• Producer Company

• Co-operative societies

 

BENEFITS OF MSME REGISTRATION

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• The Loan Interest rates are cheaper.

• There are several tax rebates.

• The credit of Minimum Alternative Tax (MAT) is longer.

• Exclusive Government Tenders

• Easy Access to Loans

• Concession in Trademark Registration

• Concession in Patent Registration.

• High Priority given in Government Licensing.

• Fewer Electricity Bills

• Stamp duty and registration fees waiver

• International trade fair special consideration

 

DOCUMENTS REQUIRED FOR MSME REGISTRATION

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• Address Proof of the Business

• Copies of Sales and  purchase bill book

• Aadhar Number

• Pan card

• Bank Account Number

• IFSC code

• NIC code

• Employee data if applicable

• Number of Employees

• Details of Partnership in case of partnership firm

• GST certificate

• Copy of resolution passed in the general meeting of the company

• Copy of board resolution with an authorization from a director to sign and apply for the MSME application

• MOA and AOA of the company

• Residential Proof of the Business

• Copies of all the Licenses

• Bills of all the Machineries

• Certificate of incorporation

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PROCESS OF MSME REGISTRATION

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1. Online and offline registration

2. Go to the MSME Registration website

3. Register and login the website

4. Fill the Application

5. Submit the documents

6. Wait for the registration process to go through

 

 

MSME SCHEMES BY THE GOVERNMENT

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• Zero defect Zero Effect

• Udyog AADHAR Memorandum

• Incubation

• Credit Link Capital Subsidy Scheme

• Quality Management Standards and Quality Management Tools

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