MICRO,SMALL &MEDIUM ENTERPRISES
MSME REGISTRATION
https://swaritadvisors.com/msme-registration
Presented by Gulshan Sharma
The Procedure of MSME Registration Online in India with Key Benefits Every business that is reaching the heights of global Multinational corporations has once started from small. With the tremendous growth in the corporate sector, the young entrepreneur is moving towards startups. Since 2001, MSMEs are growing gradually, and in the present era, these MSMEs are working in a more organized way. The government has also introduced several benefits and schemes to provide support to MSME. Ministry of MSME is working to encourage various sectors such as manufacturing, production, processing, or preservation of goods to ensure young entrepreneur needs no extra costing burden. If you are thinking to start your enterprise on a small scale, this post is just for you. Few entrepreneurs are aware of the benefits and schemes available to the entities having MSME registration; thus, in this blog, we will learn about MSME and MSME Registration Process in India.
Categories of MSME The following categories of MSME depend upon the investment made in plant and machinery, and such category can get themselves registered under MSME: Enterprise category Micro Small Medium
Investment in Plant and machinery Up to INR 25 Lakhs More than INR 25 Lakhs not exceeding INR 5 Crore More than INR 5 Crore not exceeding INR 10 Crore
Investment in equipment Up to INR 10 Lakhs More than INR 10 Lakhs not exceeding INR 2 Crore More than INR 2 Crore not exceeding INR 5 Crore
Registration Procedure Following is the step by step procedure to register MSME India:
Fill the application form. An entity can get itself registered under MSME for more than one industry. Complete the form by filling the details accurately such as the name of the applicant, name of the enterprise, PAN and Aadhar, bank details, etc. There is no registration fee payable for MSME certificate. Once the application is submitted, it is verified by authority, and thereafter it grants the registration certificate to MSME.
Necessary documents attached to the application:
PAN and Aadhar of applicant
Address proof of business such as: If the premise is owned: Registry and electricity bill If the premise is rented: NOC from landlord and rent agreement
Receipt of sale and purchase made during the trade such as bills, invoices, vouchers, etc. AOA and MOA in case the applicant is a company Partnership deed if the applicant is a registered partnership firm Copy of other licenses obtained.
Benefits of MSME Registration Following are the advantages to register MSME business in India:
The company can avail easy finance with lower interest rates in comparison to a regular loan There are tax rebates and exemption available to MSME Unlike regular MAT Credit which can be carried forward to 10 years, MSME's MAT credit can be carried forward to 15 years Ease in credit availability with low-cost involved in setting up of industry, patent registration, and similar rebates and concession Government give preference to MSME to grant licenses and other certification
Conclusion As you have read in this blog, it is beneficial to register your startup as MSME as per the category in terms of revenue. By making it compulsory for a large corporation to set minimum transactions with the MSME sector, the government has led to enhance the growth in the MSME sector. Contact us to get your entity registered under MSME and avail the benefits and scheme as it is advisable to get the expert’s assistance while applying for MSME.
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Created by Gulshan Sharma