How To Register MSME
Step 1
We do a thorough check of the files you send in
Step 2
We will appoint an affiliate to process your application
Step 3
The certificate will be issued within 15 days of the application
About MSME
MSME stands for Micro, Small and Medium Enterprises which are regulated by the MSMED Act, 2006. MEME helps promote these industries using the provisions of the act. The government approved body will authorize various incentives approved under the MSMED Act. MSME registration or Udyog Aadhar Registration can be availed by the enterprises working in both manufacturings as well as in the service sector.
However, MSME Registration is an optional Registration under the MSMED Act, but it provides Micro, Small and Medium-sized enterprises with a host of benefits such as interest rate concessions, tax benefits and access to a range of subsidies and schemes. It also ensures remedies against non-payment to MSMEs. MSME or Udyog Aadhar Registration is also known as SSI Registration.
As per MCA notification dated 22 January 2019, MSMEs are protected against delay in payment from buyers. The payment to MSME shall not exceed 45 days from the date of acceptance of goods or services. Every company has to report the default in the payment made towards an MSME recognized entity. MSME registered entities are eligible for capital subsidies, interest rate subvention, business marketing, and expansion support, and power tariff subsidies. StartupSeven can help startups to get MSME Registration Online.
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.
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- Refrain from asking for security deposits
- Concession in the electricity bills
- Increased chances of winning government tenders
- Reduction in fee for filing patents and trademark registration to get protection under the rights of intellectual properties.
- Easy and cheaper bank loans
- Reservation benefits
- Stamp duty and registration charges are waived off
- Reimbursement under the bar code registration
- Industrial promotion subsidy
- Reduction in the rate of the interest by major banks
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- For Manufacturing Sector Enterprises:Investment in Plant and Machinery:
Micro <25 Lakhs.
Small >25 Lakhs but <5 Cr.
Medium >5 Cr but <10 Cr.
- For Manufacturing Sector Enterprises:Investment in Plant and Machinery:
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- For Service Sector Enterprises:Investment in Equipment:
Micro <10 Lakhs.
Small >10 Lakhs but <2 Cr.
Medium >2 Cr. but <5 Cr.
- For Service Sector Enterprises:Investment in Equipment:
- Valid Indian Mobile Number of Directors/Partners/Proprietor
- Entity basic documents AOA and MOA/ Partnership Deed
- E-mail ID of Directors/ Partners/Proprietor
- PAN card of entity
- Businee Address proof
- Copy of Sale Purchase Bill
- Copy of Licenses and registrations
- Step 1: Make the payment of professional registration fees.
- Step 2: Arrange to provide basic documents as per the list provided by us.
- Step 3: An application is filed through the MSME Portal.
- Step 4: MSME Registration Certificate is provided.
How Can We Help In Registering
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MSME Registration certificate
Frequently Asked Questions
Who is liable to register under MSME?
MSME Registration is an optional registration which can be chosen by entities in manufacturing and service sector. Criteria of classification are given below,
For Manufacturing Sector
- Enterprises investment in plant and machinery
- Micro <25 Lac
- Small >25 Lac but <5 Cr.
- Medium >5 Cr but <10 Cr.
For Service Sector
- Enterprises investment in equipment
- Micro <10 Lac
- Small >10 Lac but <2 Cr.
- Medium >2 Cr. but <5 Cr.
What are the benefits one gets by registering into MSME?
MSME registered entities enjoy a host of benefits from the government. Following are the benefits one gets by registering into MSME.
- Collateral free credit guarantee scheme by SIDBI.
- Credit Linked capital subsidy scheme for technology up-gradation.
- ISO 9000/ISO 14001 Certification Reimbursement Scheme
- Marketing support /assistance to MSMEs
- Support for entrepreneurial and managerial development of SMEs
- Online reporting portal for MSMEs for delayed payment
- Interest rate subvention
- 25 % of the total sourcing for government projects will be from Indian MSME sector. Notably, 3% of this 25% will be from women entrepreneurs.
- Subsidy on patent registration.
- Collateral free loan through banks under priority lending.
How is the value of plant and machinery to be considered in the MSME registration?
Under the MSME registration, for obtaining the SSI certificate, only the original value of the plant and machinery will be considered by the regulatory authorities.
What is the difference in MSME (Manufacturing) and MSME (Service)?
MSME definition criteria are different in the manufacturing and service sector. However, Both the sectors enjoy the same benefits.
For how long is the provisional registration certificate valid?
The Provisional Registration Certificate is a temporary MSME certificate issued by the government which expires after five years. If the unit is not operational or the investment limit exceeds the limits set by the government, then the enterprise can re-apply for the PRC. After attaining the PRC, the enterprise can apply directly for a Permanent License.
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+91 9654831210
Email Support
info@semantictaxgen.in
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