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MSME Registration | SSI Registration

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MSME Registration | SSI Registration

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The Term MSME Stands for Micro, Small and Medium Enterprises.A/c to Micro, small & Medium Enterprises Develpoment (MSMED) Act, 2006 the Micro , small, MSME also called SSI and Medium Enterprises (MSME) are divided into two classes:

1. Manufacturing Sector -

a). For Micro Enterprises--Investment in plant & Machinery Does not exceed 20 lakhs rupees.

b)-For Small Enterprises--Investment in plant & Machinery is more than 20 lakhs but does not exceed 5 crore rupees.

c)-For Medium Enterprises-Investment in plant & Machinery is more than 5 cr but doest not exceed 10 Crore rupees.

Documents Required for SSI / MSME Registration -

1. Aadhaar Card ( soft copy Attachment )

2. Social Category (General/OBC/SC/ST)

3. Name of Enterprise / Business

4. Type of Organization (Proprietorship/Partner/LLP/Pvt.Ltd)

5. PAN Card (Proprietor/Firm / Company)

6. Office Address

7. Mobile No and email id

8. Bank Account no and Bank IFS Code (Proprietor/Firm / Company)

9. Main Business Activity of Enterprise (Your Firm / Company Work)

10. Number of employees

11. Investment in Plant & Machinery / Equipment

2.Services Sector-

a)-Micro Enterprises--Investment in equipment is not more than 10 lakhs.

b)-Small Enterprises--Investment in equipment is more than 10 lakhs but not exceed 2crores.

c)-Medium Enterprises--Investment in equipment is more than two crores but not exceed 5 crores.

MSME Registration Benefits:

Benefits from Banks: All banks and other financial institutions recognise MSMEs and have created special schemes for them. This usually includes priority sector lending, which means that the likelihood of your business being sanctioned a loan is high, and lower bank interest rates. There may also be preferential treatment in case of delay in repayment.

Tax Benefits: Depending on your business, you may enjoy an excise exemption scheme as well as exemption from certain direct taxes in the initial years of your business.

Benefits from State Governments: Most states offer those who’ve registered under the MSMED Act subsidies on power, taxes and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preference on goods produced.

Benefits from Central Government: The central government, from time to time, announces schemes to benefit MSMEs, such as the credit guarantee scheme:

Credit Guarantee Scheme (CGTMSE)

One of the major struggles that the small scale industries face is credit and input of income from various sources to support them.

The Credit Guarantee scheme, introduced to support MSME, comes with modifications to make it more beneficial for small traders:

The salient features of the scheme include:

1. Enhancing the optimal eligibility loan from Rs. 25 lakh to Rs. 50 lakh.

2. Reducing the one-time guarantee for loans availed of by the MSME in North-Eastern region of India from 1.5% to 0.75%.

3. Increasing the extent of guarantee cover from 75% to 80% for:

4. Women operated Medium and small scale enterprises

5. Micro enterprises, for loans upto 5 lakhs

6. Loans obtained in North Eastern region of the country

7. Reducing the one-time guarantee fee for all loans availed in North Eastern India from 1.5% to 0.75%.

1. It has made very easy for enterprises that are having MSME Certificate to obtain Licenses, approvals and registrations on any field for their business from the respective authorities as they can produce the Certificate of MSME Registration while making application.

2.Enterprises that have MSME Registration can enjoy Direct Tax Exemption in the initial year of business, as mention in the scheme by Government and depending on business activity.

3.There are multiple government tenders which are open only to MSMEs to promote small business participation in the India.

4. Easily approvals from state and central government bodies, Business registered under MSME are given higher preference in terms of government license and certification.

1.What is MSME?

MSME meaning Micro Small and Medium Enterprises as defined under MSME development Act 2006.

2.What is the Difference Between MSME,SSI & Udyog Aadhar?

There is no difference between MSME, SSI & Udyog Aadhar. There are all one and the same.

3. Who can Apply For MSME Registration?

Any entrepreneur having valid Aadhaar Number can apply for MSME Registration Online.

4. What is the definition of MSME?

The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below: • A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; • A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore; • A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore.