MSME Registration
Our Price
Market Price : INR 2,500
Our Price : INR 699 Only
Savings : INR 1,801
Govt Fees : Inclusive in the price
Time for Registration : 7 to 10 Working Days
Click on Below Tabs for relevant matters
MSME Registration
MSMEs are viewed as the backbone of the economy in developing countries like India. This sector is complementary to the large industries as an ancillary unit, and MSMEs contribute enormously to the country’s socio-economic development. This sector plays an important role in providing employment facilities at a large scale and lower cost in comparison to the large industries helps in the industrialization of rural & backward areas & reduces regional imbalances, ensuring a more equitable distribution of wealth & national income. The MSME registration is not yet mandatory, but the registration provides several benefits to the MSMEs in terms of credit facilities, loans, taxation, setting up the business, etc., as discussed earlier in this article.
Elegibility
The tag of MSME and registration under it is allowed for manufacture or producer and service provider only. Any manufacturer or service provider falling under eligibility criteria may register itself/himself as MSME
Enterprise | Investment in plant & machinery/ Equipment | Turnover |
MICRO | Up to 1cr. | Up to 5cr. |
SMALL | Up to 10cr. | Up to 50cr. |
MEDIUM | Up to 50cr. | Up to 250cr. |
Documents for MSME Registration
Documents required for MSME Registration
- PAN Number
- Aadhar Number
- Address of Business
- The basic business activity
- Bank Account Number
- NIC 2-digit code
- Turnover details (according to MSME new definition)
- Investment details (details of plants/equipment)
- Copies of Purchase bills & Sales bills
- Partnership Deed
- License Copies & Purchase bills of Machinery
Procedure of MSME Registration
Step- by- step Guide explaining MSME Registration Process Online
Businesses who want to avail benefits announced by the Government for MSMEs will need to register their business on the ‘Udyog Aadhaar Memorandum (UAM) portal’. The registration process is quite simple and free for every user.
Following are the step wise guidance for MSME Registration
- Visit the Udyam registration Portal where you will be required to fill a form.
- If you are registering your business as an MSME for the first time, click on the first link on the page.
- Enter the Aadhaar Number and Name and click on ‘Validate & Generate OTP’.
- Once verification is done, you will have to fill in the PAN details. You can select the No option if you don’t have a PAN card yet.
- Post this, you will have to fill the form having field numbers 5-24.
- At the end of the form, an OTP request will be sent to your phone again. Enter the OTP and verification code to submit the form successfully
- After successful registration, a “Thank You” message will appear with a Registration Number. Keep that number handy for future reference
- Once the application form is submitted, it can take 2-3 days for the approval and registration to complete.
- If the application gets approved, the registration will be done and the MSME certificate will be delivered to you via email.
Benefits of MSME Registration
You will get bank loans at the lowest rate of interest. The rate of interest is approx 1%-1.5% lower compared to the regular interest rate on loans.
- You can also avail of the tax benefits by taking credit for MAT (minimum alternate tax) that can be availed for up to 15 years.
- There are many concessions & rebates available on setting up the industry or getting patents done.
- You can reimburse the ISO Certification fees
- Credits are easily assessable for MSMEs
- A one-time settlement fee is required to be paid for the unpaid amount of small and medium business. This can be paid using PayU India.
- Acquire Govt tenders easily because Government gives preference to small and medium business
- You can avail the advantages of several Govt schemes like Credit Linked Capital Subsidy Scheme, Credit Guarantee Scheme, Protection against delayed payments, Public Procurement Policy, etc
- Priority sector lending from banks are available to MSMEs
- Bar-code registration subsidy
- Concession on MSME electricity bill
- Special consideration for International Trade fairs
- State Government also supports MSMEs
Frequently Asked Question
MSME certificate is valid till the time the business is operational. However, a provisional MSME certificate is valid only for 5 years.
According to the provisions of the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006, MSMEs are classified into Manufacturing Enterprises and Service Enterprises.