MSME registration is required for micro, small and medium sized enterprises to avail various incentives provided under the MSMED Act.
Online MSME/Udyog Adhaar Registration
registration starts@ Rs. 999 (all inclusive)
MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.
Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support. IndiaFilings can help your business obtain MSME Registration to avail a host of benefits.
Important Points in relation to MSME/Udyog Adhaar Registration
SSI or MSME Registration is not mandatory. However, it is advisable for all micro, small and medium enterprises to obtain for its obvious benefits. The same is available for Manufacturers and Traders.
No Return Filing
An MSME Certificate once applied to need no renewals. Further, there are no periodic returns to be filed in respect of it.
Major benefits of SSI/MSME Registration are cheaper and quick bank loans, easy access to credit, quicker approvals from state and central government bodies, tax rebates, cheaper infrastructure, including electricity exemptions.
Microenterprises are the smallest entities. Micro manufacturing enterprises have an investment of less than Rs. 25 lakh in plant and machinery, while micro service enterprises have less than Rs. 10 lakh invested.
Who Can Apply for MSME Registration?
Any entrepreneur having valid Aadhaar Number can apply for MSME Registration Online.
What is the Validity of Registration Certificate granted?
Provisional registration is valid for a period of 2 years from the date of its Issue. In case Unit is not set up during two years, an applicant may apply afresh and obtain a new provisional registration. Permanent registration is granted for a lifetime.
How is the value of plant & machinery computed?
It is computed as per the MSMED act and rules provided their under, but while computing the value of plant & machinery their original value is to be taken into consideration.
Is SSI/MSME Registration voluntary or mandatory?
The SSI Registration is only needed to avail subsidies and benefits. It is absolutely voluntary. Due to the various benefits attached to it, it is advisable for SMEs to obtain the same.
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