MSME Registration

MSME stands for Micro, Small and Medium Enterprises. MSME Registration is also known as Udyog Aadhar.

GET CONNECTED FOR MSME REGISTRATION!

HIGHLIGHTS

What is MSME?

MSME Stands for Micro, Small and Medium Enterprises it facilitates development & promotion of enterprises through various benefits & schemes.

When to register under MSME?

If someone wants to avail benefits from Central or State Government and the Banking Sector then MSME Registration is required

Who Monitors MSME Registration?

It is governed by MSMED Act 2006 in India under the Ministry of Micro, Small and Medium Enterprises

Micro Enterprises

It is an enterprise whose investment in Manufacturing sector in its Plant & Machinery is < 25 Lakh and in service sector in its equipment < 10 Lakh

Small Enterprises

It is an enterprise whose investment in Manufacturing sector in its Plant & Machinery is < 5 Crore and in service sector in its equipment < 2 Crore

Medium Enterprises

It is an enterprise whose investment in Manufacturing sector in its Plant & Machinery is < 10 Crore and in service sector in its equipment < 5 Crore

OVERVIEW

MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. The MSME became operational on October 02, 2006. It was established to promote, facilitate and develop the competitiveness of the micro, small and medium enterprises.

Even if the Company is in the manufacturing line or the service line, registrations for both these areas can be obtained through the MSME act. This registration is not yet made mandatory by the Government but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.

Benefits of MSME Registration

Due to the MSME registration, the bank loans become cheaper as the interest rate is very low around ~ 1 to 1.5%. Much lower than interest on regular loans.
There are various tax rebates offered to MSME.
It also allowed credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years
There are many government tenders which are only open to the MSME Industries.
They get easy access to credit.
Once registered the cost getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available.
Business registered under MSME are given higher preference for government license and certification.
There is a One Time Settlement Fee for non-paid amounts of MSME.

DOCUMENTS REQUIRED

Application Form

Aadhaar Card

Address Proof

Cancelled Cheque

READY TO GET ORGANIZATION MSME REGISTERED !

FREQUENTLY ASKED QUESTIONS

1. What is MSME registration?

MSME Registration is an optional Registration under the MSMED Act that provides Micro, Small and Medium sized enterprises with a host of benefits and access to subsidies and schemes.

2. Is MSME registration mandatory?

This registration is not yet made mandatory by the Government but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.

3. Is there any validity of MSME certificate?

The second document required for Udyog Aadhar registration, called Entrepreneur Memorandum-II, allows you to have MSME registration infinitely. There is no need to renew it

4. Can traders get MSME registration?

Yes, a trader can get an MSME Certificate. But you should know that there are a set of criteria that an entity has to meet in order to be classified as a medium, small or micro enterprise for obtaining the MSME registration.

5. Why is MSME important?

Micro Small and Medium Enterprises (MSMEs) are crucial for the economic growth and stability of any country and play a vital role especially for developing countries as they facilitate economic activity and provide employment thus contributing to poverty reduction.