MSME/SSI Registration

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MSME Registration

Overview

MSME stands for Micro, Small and Medium Enterprises. Small and medium enterprises fall under SSI / MSME Registration category. MSME has an important role in the growth of Indian economy. Indian economy is majorly dependenton agriculture and small businesses. MSME being the backbone of the economy is highly supported by the government. For MSME Registration, the government of India provides various subsidies, schemes & incentives to MSMEs/SSIs to promote it through MSMED Act. MSMED Act provides for measures for promotion, development, growth, and enhancement of competitiveness of MSME and establishment of National board for MSME Registration.

To get various benefits, incentives, schemes, and subsidies granted by the government, MSME entrepreneurs need to register themselves under SSI Registration / MSME Registration Act with the concerned department. MSME registration is also important for developing accountability and transparency in the micro, small, and medium enterprises.

The Micro Small and Medium Enterprises have been defined under MSME Act, 2006. According to the Act, MSME have been broadly classified in two categories:

.

They are well-defined in term of investment in Plant and Machinery/ Equipment as below:

 

Type of MSME Micro Small Medium
Manufacturing Enterprises Rs. 25 lakhs Less than Rs. 5 crores Less than Rs. 10 crores
Service Enterprises Less than Rs. 10 lakhs Less than Rs. 2crores Less than Rs. 5 crores

Advantages

Registration of Micro, Small and Medium (MSM) Enterprises under MSMED Act is a very powerful medium to enjoy the incentives offered by the Centre which generally contain the following:

  • Easy finance availability from Banks, without collateral requirement
  • Multiple Tax Rebates
  • Preference in procuring Government tenders
  • Stamp duty and Octroi benefits
  • Concession in electricity bills
  • Reservation policies to manufacturing / production sector enterprises
  • Reimbursement of ISO Certification Expenses
  • Excise Exemption Scheme
  • Exemption under Direct Tax Laws.
  • Financial Assistance for setting up testing facilities through NSIC
  • Statutory support such as reservation and the Interest on Delayed PaymentsAct.
  • Subsidy on ISO Certifications
  • Subsidy on NSIC Performance and Credit ratings
  • Participation in Government Purchase registrations
  • Registration with NSIC

Sources of Finance for MSME

Checklist

Before you proceed for applying MSME Registration, note the following important checklist. Registration will be processed further only if you fulfil one or more of the below mentioned criteria’s:

  • You must be a sole proprietor, or
  • You work in an association with other persons, or
  • You have co-operative societies,
  • You belong to or are part of Hindu Undivided Family, or
  • You work as or have a partnership firm with another party in an association, or
  • You have a One-person company, or
  • You have a limited liability partnership, or
  • You have a private limited company, or
  • You have a production company that produces materials, or
  • Or any other undertaking

Documents Required

We can categorize the documents required for MSME Registration into four categories:

  1. Basic Details
  2. Other Documents
  3. Documents in case of Unregistered and Registered Partnership Firm
  4. Documents in case of company

 

  1. Basic Details/Documents
  • Aadhar Number
  • PAN
  • Account Number with IFSC Code
  • NIC Code
  • Data on number of employees and expected date of commencement of business

 

  1. Other Documents:
  • Address proof of the business
  • Copy of Industrial License
  • Bills and receipts on purchase of machinery
  • Sales and Purchases Bill

 

  1. Documents in case of Unregistered and Registered Partnership Firm

In case of unregistered Partnership Firm, you would require to give Partnership Deed. On the other hand, in case of Registered Deed, Registration Certificate is required

  1. Documents in case of company

The following documents are required in case of a company

  • Memorandum of Association (MOA)
  • Articles of Association (AOA)
  • Certificate of Incorporation
  • A copy of the resolution passed in general meeting of the company
  • A copy of board resolution authorising a director to sign the MSME Application.

Registration Process

The procedure of MSME registration is quite simple, and an applicant can also avail the option to MSME registration online. Hence, follow these steps to procure the MSME registration certificate without much hassle:

Step-1: The first and foremost step in the process of MSME registration is to file a form either online or offline which will include all the necessary details of your business such as company name, registration number, GST number and so on.In case you choose to file an online form, then you have to visit on the official website of UdyogAadhaar and login as an entrepreneur. Also, fill all the requisite details of the MSME industry you want to operate in the application.

Step-2: Since documentation is an essential part of MSME registration in India, affix all the mandatory documents like Aadhaar number, address, bank details, PAN card, name of the industry, etc.

Step-3: The next step is to provide self-certified certificates.At this stage, an MSME executive will review your application. In case of any discrepancy, you will be notified about the process and make the relevant changes.

Step-4: After filling the form and affixing the required documents along with that, you just have to wait for 2-3 working days.

Step-5: Ultimately, you reach onto the last step in which you will receive the MSME registration number. Thereby you download the MSME registration certificate from the official website of UdyogAadhaar.

MSME Registration Certificate Sample Format

Why Choose us for MSME Registration?

  • Registration SEVA has a team of experienced and qualified professionals.
  • Best services at minimum price
  • No hidden charges.
  • 100% Client satisfaction
  • End to end assistance.

FAQ

01. What is MSME?

MSME is the short form for Micro Small Medium Enterprises. Currently the ministry of MSME is distributing the certificate in the name of UdyogAadhaar registration. There is an Act called as MSMED Act, also Micro, Small and Medium Enterprises Development Act, 2006.

02. What is UdyogAadhaar Registration or UdyogAadhaarcertificate?

In 2015, MSME department changed the name of the MSME certificate as UdyogAadhaar certificate with the unique reference number of UAN number. So the MSME certificate and UdyogAadhaar certificate are same.

03. Is SSI/MSME Registration voluntary or mandatory?

SSI/MSME registration is totally voluntary. Businessmen and entrepreneurs usually get this done to utilise the advantages offered under it. The registration process is quite easy and simple. You can easily avail it (provided you have a manufacturing plant or a commercial space where you render services), many businesses opt for it over other registrations.

04. What are the documents required for MSME online Registration?

  • Business Address Proof
  • Copies of Sale Bill and Purchase Bill
  • Partnership Deed/ MoA and AoA
  • Copy of Licenses and Bills of Machinery Purchased

05. Is Aadhaar Number mandatory for MSME Registration?

Yes, Aadhaar number is mandatory for doing online MSME registration.

06. How much time will it take to generate the certificate?

Generally, it takes 1day to generate the certificate.

0.7 How will I receive the certificate?

It will come on your registered email address.

0.8 Is there any validity of MSME registration certificate?

It is a life time valid certificate, no renewals required.

0.9 Does new and existing business can apply for MSME registration?

Yes, both new and existing business can apply for MSME registration and get the certificate.

10. How does SSI/MSME help me get a loan from a bank?

MSMEs are recognised by all the institutions and banks. Special schemes are drafted to recognise them as well. Banks prefer MSMEs instead of normal enterprises to lend loans. The possibility of getting a sanctioned loan is much higher in a case of MSME. Bank loan interest rates will also be lower. There may also be preferential treatment in case of delay in repayment.

11. What benefits are given to MSME by state and central government?

Many state government prefers enterprises which are registered under MSMED Act. Subsidy such as on power, taxes, and much more is offered by state governments. In most of the states, sales tax exemption is provided purchase preferences is given on goods produced. The enterprise may also relish excise exemption scheme and exemption from certain direct taxes in the initial years of your business.