Micro Small Medium Enterprise (MSME) Registration
The Ministry of Micro, Small and Medium Enterprises governs MSMEs.
MSME is an important Sector for the Indian Economy and have hugely contributed towards the Country’s Socio-Economic Development. It does not only generate Employment Opportunities but also develops the nation’s Backward and Rural Areas.
MSMEs are playing an essential role in uplifting our Indian Economy, So Government of India has given several benefits to MSMEs. Registration of MSME is optional but to avail the benefits, business organizations need to register themselves under the “Micro, Small and Medium Enterprises Development Act, 2006”.
Eligibility for Registering into Micro Small Medium Enterprises (MSME) Scheme
Business Should be manufacturing or service sector only
Micro
Investment: Not more than Rs.1 crore Annual Turnover: Not more than Rs. 5 crore
Small
Investment: Not more than Rs.10 crore Annual Turnover: Not more than Rs. 50 crore
Medium
Investment: Not more than Rs.50 crore Annual Turnover: Not more than Rs. 250 crore
Get MSME Registration @ Rs.1,000/-
-
- Collateral Free Loan
- Overdraft Facilities with Lower Interest rate
- Credit of Minimum Alternate Tax (MAT) available for 15 years
- Subsidy, Rebates and Concessions
- Protection against Delayed Payments
- Reimbursement of ISO Certification Charges
- Concession in Electricity Bills
- Easy access to the Marketplace
Though registration of MSME is free of Cost at government’s website, but it is always advisable to take assistance of Experts.
Frequently Asked Questions (FAQs)
MSME stand for Micro Small & Medium Enterprises. Any business dealing with either manufacturing or service Industry can apply for MSME Registration.
Following businesses doing either manufacturing business or rendering services can apply for MSME Registration –
- Proprietorship
- Partnership Firm
- Limited Liability Partnership
- Private Limited
- One Person company
- More Employment
- Raise Funds
- Technology Upgradation
- Product & Designs Development
- Economy Growth
- Socio-Economic Development
- Nation’s Development
- More Entrepreneurs
- Aadhar Number
- PAN and GSTIN
- Address of the business
- Bank Account details
- The primary Business Activity
- Status of Enterprise