What is MSME registration?
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. MSME registration is a mandatory task for any business to start and operate in India. The registration is free of cost and is categorized under two main categories, such as manufacturing enterprises and service enterprises. Government grants various benefits to MSME.
Important MSME Revised Guidelines and Threshold limit
Classification | Investment Limit | Turnover Limit |
Micro | Less than INR 1 Crore | Less than INR 5 Crore |
Small | INR 1 to 10 Crore | INR 1 to 25 Crore |
Medium | INR 10 to 50 Crore | INR 25 to 250 Crore |
Benefits of MSME registration:
· Bank Loans without collateral
· Subsidy on Patent Registration
· Overdraft Interest Rate Exemption
· Industrial Promotion Subsidy Eligibility
· Protection against Delayed Payments
· Electricity Bills concession
· ISO Certification Charges Reimbursement
Documents required for MSME Registration:
· Address proof of the Business
· Copy of Industrial License(if any)
· Bills of assets(if any)
· ITR(if any)
· Aadhar card
· Pan Card
· Bank Details
· Partnership Deep (If Unregistered firm)/Registration Certificate(If Registered)
· Additional Documents Required in case of Company:
1. Memorandum of Association
2. Article of Association
3. COI
4. BR and SR
5. PAN an d TAN of company
Steps for MSME Registration:
· Preliminary Requirements
1. Select a suitable package.
2. Provide basic details & documents required for Registration.
3. Make Payment through Secured Payment Gateway
· Registration
1. Application for MSME Registration
· Completion of MSME Registration
1. Issuance of MSME certificate.
*MSME certificate will be issued with 2-3 working days subject to the Government processing and approval.
Process of MSME Registration:
Day 1:
· Provide basic details & documents required for registration.
Day 2:
· Application for MSME registration.
Day 3-4:
· Issuance of Certificate*
*MSME Certificate will be Issued with 2-3 working days subject to the Government processing and approval.