Provisional MSME Registration

The first stage of MSME registration is provisional which is given during the period before the establishment of the entity or the pre-investment period of the firm. At this point, the enterprise qualifies for:

• Obtaining facilities for accommodation, land, etc.
• Obtaining important approvals and NOCs
• Obtaining clearances from regulatory bodies such as Pollution Control Board and Labour Regulations

The Provisional SSI Registration Certificate (PRC) enables small units to obtain term loans, and working capital from financial institutions and banks under priority sector lending.

Permanent MSME Registration

The second type of MSME registration is permanent. It is given to industrial units that are already functioning. Though the Act is not mandatory, it is immensely beneficial for firms to have the support of government.

• The IEC registration helps traders open the doors to venture into the global market, including registration in online e-commerce operators.
• Businesses can avail government schemes like Merchandise Export from India Scheme (MEIS), Service Export from India Scheme (SEIS) and others from Customs and Export Promotion
• No compliance requirements pos registration and hence maintaining the business is relatively simple
• The process of obtaining IEC is not tedious and can be obtained with minimal, basic documents.

• • Mandatory for Imports and exports
  • Bank require IEC code to remit payment overseas for imports.
  • Bank require IEC Code for crediting Inward payment recieved against exports.
  • Imports through Post/Courier also requires IEC Registration code
  • IEC Registration is mandatory for Export incentives
  • IEC Registration is mandatory for availing benefits under different DGFT Schemes.

• Pan Card copy of the entity
• AOA and MOA/LLP Agreement or Partnership Deed/Shop Act registration.
• Address proof of Business
• Board resolution/Letter of Authorised Signatory
• KYC and photograph of Directors/Partners/Proprietor
• E-mail ID of Directors/Partners/Proprietor
• Valid Indian Mobile Number of Directors/Partners/Proprietor
• Bank Statement/Cancelled cheque/Passbook

• Step 1: The online IEC application form in the format Aayaat Niryaat Form no. 2A is filed with the Directorate General of Foreign Trade. Alternatively, it could also be done offline at the Regional office of DGFT.
• Step 2: All the required documents, including bank details and DSC, have to be submitted
• Step 3: Next, the Import Export code will be allotted and the application will be processed further
• Step 4: Once the documents and application are verified by the authorities, the import export license will be granted as a soft copy to the entity.