Easy and simple way to get MSME Registration
MSME registration is necessary for different sized business enterprises to avail a variety of incentives provided under the MSMED Act. We will guide you to easily get MSME registration.
MSME registration is necessary for Micro, Small and Medium Enterprises (MSMEs) to avail a variety of incentives provided under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006. The Act offers several benefits to those registered under it – priority sector lending, excise and direct tax exemptions, capital investment subsidies and power tariff subsidies. These benefits are provided so small businesses can achieve growth at a much faster pace and without enduring hardships.
MSMEs promote inclusive economic, industrial and social development of India by way of nurturing the spirit of entrepreneurship in remotest parts of the country. By manufacturing a wide range of goods and services, they not only meet the demands of domestic and global markets but have also widened their sphere across various sectors of the economy. MSMEs are, in fact, great vehicles for setting up self-employment ventures that hold out tremendous potential for job creation.
MSMEs aim at making the youth of India self-sufficient and more confident. The Ministry of MSME provides technological, infrastructural and fiscal support for smooth functioning of MSMEs.
The MSME registration is absolutely voluntary but it is needed to avail of various benefits and subsidies. Moreover, it is a fairly easy to get registered. So, many small business opt for it.
If you do so, you can avail of a Provisional MSME Registration Certificate. It will enable your unit to obtain priority sector lending and procure various NOCs and clearances from regulatory bodies, such as Pollution Control Board.
You may apply for Provisional MSME Registration without an industrial license in case your unit is listed in Schedule-III of the Industrial Licensing Exemption Notification. It should also obtain all other clearances, whether statutory or administrative. Take for instance, a drug license under the Drug Control Order or an NoC from Pollution Control Board, if required. Your unit should not adhere to all locational restrictions in force. It should not be owned, controlled or subsidiary of any other industrial undertaking. The provisional certificate is issued based on your application form, without conducting any field enquiry is made.
Access to cheaper bank loans, credit, quicker approvals from state and central government bodies, tax exemptions, inexpensive infrastructure, including electricity and VAT exemptions are some of the benefits of MSME registration.
Any entity with an MSME Registration must follow all regulations laid by the government, otherwise it will be deregistered. Also, in case an entity exceeds the investment limits, its registration will be cancelled.
The smallest entities, micro manufacturing enterprises have investment of less than Rs 25 lakh in plant and machinery. For micro service enterprises, investment limit is less than Rs. 10 lakh.
Small manufacturing enterprises are the ones that have between Rs. 25 lakh and Rs. 5 crore invested in plant and machinery. In small service enterprises, this limit is between Rs. 10 lakh and Rs. 2 crore invested.
In medium manufacturing enterprises, between Rs. 5 crore and Rs. 10 crore can be invested in plant and machinery, while in small service enterprises, this limit is between Rs. 2 crore and Rs. 5 crore invested.
Proprietor/partners/directors need to send in their PAN cards, identity and address proofs. Private limited companies are required to submit the Memorandum and Articles of Association, Form 32, Form 18 and Certificate of Incorporation too, while in case of Partnerships, a copy of Partnership Agreement is required. Further, MSMEs must submit rental agreement for the office address, if it is rented, along with the electricity bill.
Great Solution will file MSME registration application with the relevant state office. You need to submit some additional documents too as the procedure differs with each state. For instance, MSMEs are required to produce sale bills of machinery and municipal clearance in some states.
An MSME can obtain a provisional certificate (in case the unit has not commenced production) that is valid for five years. Once your plant is operational, we will help you get a permanent certificate.
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