MSME Registration
Simple Registration Process
MSME registration is required for micro, small and medium sized enterprises to avail various incentives provided under the MSMED Act.
What is MSME Formation?
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. MSME Enterprises are typically more labour intensive than large corporates and provide tremendous employment potential at a very low capital cost. MSME also share a major portion of industrial production and exports in India and play a pivotal role in the development of industrial economy.
Therefore, to promote and develop MSMEs; the MSMED Act of India facilitates promotion and development of enterprises through many incentives, schemes and subsidies. To obtain the benefits under MSMED Act, MSME Registration is a must and proprietorship firms, partnership firms, LLPs, Private Limited Company’s and Public Limited Companies can register.
Documents Required for MSME Registration
For Individual / Proprietorship
- PAN card ID proof and address proof of Individual
- Date of Commencement of Business
- Name of Business
- Bank Details - Copy of cancelled cheque or first page of Pass Book or first page of recent bank statement with latest transaction summary.
- Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc in the name of applicant or in case the premises is rented, Rent Agreement.
- List of goods or services in which dealings
- Aadhar number should be linked with mobile number to get OTP
For the Company/ LLP
- PAN of Business Entity
- Scanned copy of Notarised Rental Agreement in English
- PAN of all the directors/Designated Partners
- Date of Commencement of Business
- Date of Commencement of Business
- Bank account proof i.e first page of company’s current account statement
- E-mail/ Mobile No.
- Commodities and services in which dealing
- Aadhar number should be linked with mobile number to get OTP
- MOA/ AOA (optional)
- Proof of place of business
- In case of rented/leased premise- copy of rent agreement and electricity bill in the name of owner
- In case of owned premise- Electricity bill
----------
Advantages of MSME Registration
Easy availability of loan
Every MSME whether in manufacturing sector or service sector is entitled to collateral or mortgage free loan from Bank for an amount up to Rs. 1 Crore through SIDBI under Credit Guarantee Scheme
Gov procurement
Central or state government departments have been mandated to extend priority treatment to MSME while procuring goods or services for the consumption of goods or services for public purposes
Low-interest overdraft
While availing bank overdraft facility from a bank, MSME has a reason to smile as Banks need to offer 1% less interest rate on the overdraft extended to the MSME which is registered with Udyog Aadhar.
Concessional electricity
TA registered MSME can avail concessional rate of electricity for their unit by making a written application along with the certificate issued after registration as MSME to the electricity department.
Easy availability of loan
Every MSME whether in manufacturing sector or service sector is entitled to collateral or mortgage free loan from Bank for an amount up to Rs. 1 Crore through SIDBI under Credit Guarantee Scheme
Easy availability of loan
Every MSME whether in manufacturing sector or service sector is entitled to collateral or mortgage free loan from Bank for an amount up to Rs. 1 Crore through SIDBI under Credit Guarantee Scheme
Easy availability of loan
Every MSME whether in manufacturing sector or service sector is entitled to collateral or mortgage free loan from Bank for an amount up to Rs. 1 Crore through SIDBI under Credit Guarantee Scheme
Easy availability of loan
Every MSME whether in manufacturing sector or service sector is entitled to collateral or mortgage free loan from Bank for an amount up to Rs. 1 Crore through SIDBI under Credit Guarantee Scheme
----------
Meaning of Micro, Small or Medium Enterprises
Micro Enterprise
A Micro Enterprise in the manufacturing sector is an enterprise with less than Rs. 25 lakhs of investment in plant & machinery. A Micro Enterprise in the service sector is an enterprise with less than Rs. 10 lakhs of investment in plant & machinery.
Small Enterprise
A Small Enterprise in the manufacturing sector is an enterprise with more than Rs. 25 lakhs but not exceeding Rs. 5 crores of investment in plant & machinery. A Small Enterprise in the service sector is an enterprise with more than Rs. 10 lakhs but not exceeding Rs. 2 crores of investment in plant & machinery.
Medium Enterprise
A Medium Enterprise in the manufacturing sector is an enterprise with more than Rs. 5 crores but not exceeding Rs. 10 crores of investment in plant & machinery. A Medium Enterprise in the service sector is an enterprise with more than Rs. 2 crores but not exceeding Rs. 5 crores of investment in plant & machinery.
----------
Our Website Packs Only for Basic, Silver, Gold Plans
Getting Started
Static Website Up to 10 pages
In addition with website plans, we offer FREE domain name, 1 year hosting & 50 emails
Professional
E-Commerce simple website
In addition with website plans, we offer FREE domain name, 1 year hosting & 50 emails
Custom
E-Commerce complex website
In addition with website plans, we offer FREE domain name, 1 year hosting & 50 emails
