MSME Registration

Package Inclusion :

  • Consultation on MSME Registration
  • File application for MSME Registration
  • MSME Registration Certificate

MSME Registration

What do we mean by MSME?

MSME (Micro Small & Medium Enterprises) plays a very important role in the economy. Such enterprises provide support to the industries through raw material supply and supply of goods & finished product. In India, MSMEs are classified in terms of investment made in plant & machinery and equipment.

Brief Explanation on Classification of MSME in India on the basis of investment -

Investment made in Plant & Machinery

Investment made in Equipment

What is MSME Registration?

Recently Government of India has introduced various schemes, subsidies, and incentives to promote MSME (Micro, Small and Medium Enterprises) through MSMED act. Not only the government but banks are also providing loans to these MSMEs at very concessional rates to set their first brick of the business. However, to get these benefits from the central and the state government or the banking sector, you would have to apply for MSME Registration. The Government of India has made it compulsory to have an Aadhar Number for Registration under the MSME act. For MSME, an application will be filed online using the official website of Udyog Aadhar Registration at Udyog Aadhar Website and this can be verified using the Aadhar OTP.

It's is playing a very crucial role across the nation for small and medium enterprises. It has been observed from various surveys that the economic growth of the country not only depends upon large scale enterprises but also on small sector enterprises operating in India. It is the backbone of such country whose economy is depends upon agriculture. India has huge stock of natural resources therefore the growth of small scale industries is certain. In the year 2015, government changed MSME registration into Udyog Aadhar Registration.

What is the Importance of MSME Registration for Small Scale Industries?

For the transparency and accountability of small scale industries, MSME registration is very important. To promote the MSMEs throughout the country there is a MSME department which is an authorized body established by the government. With registration one can avail numerous incentives as per MSMED Act. It is mandatory in order to subscribe under MSME.

What is the Eligibility Criterion for MSME / SSI Registration?

You can apply for registration if you fulfill one or multiple of the below mentioned criteria, such as if:-

Is it Compulsory to apply for MSME Registration?

MSME Registration Process is completely online subsequently you need a professional to fill up your application for MSME and obtain approval from the MSME department because many of us are not aware of the latest rules and regulation of the government regarding MSME.

Moreover, each state has a separate department to approve the MSME Registration Certificate with the MSME Number. It is not mandatory to obtain SSI registration but there are certain benefits that you can avail if you apply for Registration.

As per the Notification released on 07th February 2018, MSME / SSI registration can be obtained by the manufacturing enterprises complying with following conditions-

Note: This is a proposed classification

It is completely voluntary to obtain, thus it can be availed for acquiring all the benefits and subsidies offered by the government. MSME / SSI Registration contribute to the economic growth of the nation. Before heading straight for the registration, what you can do is to first go with the provisional SSI registration certificate.

With the help of SSI Registration certificate, you can avail term loans and capital. You must apply for SSI Registration online as there are numerous benefits provided by the Indian government for achieving the economic growth at a faster pace and with MSME registration / SSI registration you will get easy credit and subsidies along with tax rebates and exemptions.

Who has the Authority for Registration of MSME?

For MSME online Registration there is a separate DIC (District Industries Centre) department in each state. They have the power to issue MSME Registration Certificate with the MSME Number. Even for availing the scheme or benefits, enterprise have to contact nearby DIC Department.

What is the Procedure of MSME / SSI Registration?

The MSME registration / SSI registration can be canceled anytime if it exceeds the prescribed amount of turnover or investment by the government.

MSME Registration process is completely an online process and for this you have to fill an application form with the help of professional and obtain the approval from the department. It is not mandatory for the companies however it is always preferred to obtain. 

For the completion of all the documentation for MSME registration, process takes around 2-3 working days. All the necessary formalities must be completed to avoid any future difficulty and to complete the process in hassle free manner.

How Enterslice will Process Your Application for MSME Registration?

Enterslice can help you with MSME registration. We offer all type of legal services all over the India and across the world.

For MSME Registration in India from Enterslice, you have to go through the following steps:

Why Choose us for MSME Registration?

What are the Recent Changes in MSME Sector?

To support MSME sector in India, government of India takes timely initiatives. Now MSMEs can obtain in-principal approval for loan up to Rs. 1 crore within 59 minutes.

Enterslice is a leading platform which cares about every client. We provide various legal services which helps client in carrying out its activities such as FSSAI registration, business plan, other government registrations  in case client intend to carry out import export activities.

What are the Documents Required for MSME Registration?

Hence, the following are the required documents for registration-
  • PAN Card of the proprietor/ all the partners/all the directors
  • Aadhar Card of the proprietor/all the partners/all the directors
  • Proof of ownership of premises such as allotment letter/possession letter/lease agreement/property tax receipt.
  • If rented premises then rent agreement and NOC from the landlord along with the utility bill
  • Copy of sale bill for each end product
  • Copy of purchase bill of each raw material purchased
  • Copy of Partnership Deed in case of partnership firm
  • Copy of Memorandum and Articles of association and certificate of incorporation in case of Private Limited Company Registration along with the Board's Resolution authorizing the director to sign the application
Hence, the following are the required documents for registration-
  • Copy of Industrial License as obtained under Industrial Development and Regulation Act,1951
  • An affidavit on Rs. 10/-non judicial stamp paper duly attested by Notary Public affixed providing the status of machinery installed, power requirement etc.
  • Purchase bill of machinery installed
  • Bills in relation to purchasing and installation of plant and machinery
  • Bank Account Statement

What are the Advantages of MSME / SSI Registration?

It provides several benefits like:-

Lower Rates of Interest on the loan Tax Subsidy Excise Duty Exemption schemes Subsidy tariffs Also capital investments subsidy etc and other supports. collateral free loans from the banks Reservation policies for the manufacturing sector and production sector Special consideration for the international trade fairs Eligible for IPS subsidy Reimbursement of ISO certification

Easily avail Bank Loans

Once registration is done by the enterprises they can avail the benefit of bank loans. Banks offer collateral free loans even property is not pledge with the Banks. Government of India and SIDBI work directly to implement the schemes on the MSMEs.

Ease in an opening bank account

Registration Certificate is a legal entity proof of the business therefore bank account can be easily opened and easily apply for any other license such as GST registration.

International Trade Fairs Participation

In order to expand the business across the country or internationally, enterprises can participate in international/national trade fairs organized by the MSME Department.

Waiving off Stamp Duty and Registration Charges

Prior to this, only such enterprises which expand their business in the IT Park or SEZ could avail the stamp duty benefits however now MSMEs can also avail these benefits.

Subscribe Our Newsletter To Get Latest News About MSME Registration