MSME Registration

MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries (As per msme.gov.in). When these industries grow, the economy of the country grows as a whole and flourishes. These industries are also known as small-scale industries or SSI’s.

Features

These are some features are :

  1. 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.
  2. There are various tax rebates offered to MSME.
  3. It also allowed credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years.
  4. There are many government tenders which are only open to the MSME Industries.
  5. Once registered the cost getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available.

Documents Required

Following documents are required for registration purpose:

  1. Proof of Place of business (Incorporation certificate).
  2. Aadar Card of Authorised person.
  3. PAN Card of the Business and Applicant.
  4. Valid Phone Number and Email address..
  5. Valid bank account number from India (Cancelled check of firm with Authority signature).
  6. List of Goods and Services
  7. Proof of appointment of Authorized Signatory (Letter of Authorization or copy of board resolution).
  8. Authorized Signatories photo

Time

MSME Registration about 2 working days.

FAQ's

Obtaining MSME registration or Udyog Aadhaar is not mandatory and is at the sole discretion of the Entrepreneur. However, it is recommended that most businesses obtain MSME registration right after registration to enjoy various benefits like protection against delayed payments under the MSMED Act.

No, MSME registration is now NOT converted to Udyog Aadhar registration. ... Udyog Aadhar Registration is the online method of Acquiring MSME registration. You get the 12 digit Udyog Aadhar Number for your Micro, Small or Medium Scale Industry and you have MSME registration in your hands.

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