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How MSME Work ?
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We do up to two rounds of iterations, if necessary, at no extra cost.
MSME registration stands for the micro small and medium enterprises registration. THE Government of India launched MSME act to support the MSME through various schemes, incentives and subsidies. The Ministry of Micro, Small and Medium Enterprises, a branch of government of India.Banks provides loans at lower rate of interests with MSME registration. In country’s economic growth MSME play an important role.
Benefits of MSME/SSI registration are as follows:
- Cheaper infrastructure: For MSME/SSI registered company charges are very lower.
- Quicker approvals from state and central government bodies: Business which are registered under MSME/SSI get higher preference.
- Access to tenders: This is one of the benefits in which the various government tenders open to MSME/SSI to promotes small business in India.
- MSME market development assistance for micro and small enterprises: this is another important benefits given in which the government has promised to buy products from these MSMEs.
- Cheaper bank loans: MSME/SSI registered company get lowerrate of interest on loan.
- Easy access to credit :This is the another benefits which provides loans to MSME/SSI without collaterals. PM modi provides or introduced the mudhra loan scheme which is very beneficial.
- Concession in trademark registration.
- Concession in patent registration.
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What Business are Categorised Under the MSME Scheme?
FOR MANUFACTURING SECTOR AMOUNT INVESTED IN ASSESTS
Micro Enterprises:Enterprises who is investing less than Rs 25 lakhs in assets.
Small Enterprises:Enterprises who is investing between Rs 25 lakhs and Rs 5 cr in assets.
Medium Enterprises:Enterprises investing between Rs 5 crores and Rs 10 crores in assets.
FOR SERVICE SECTOR AMOUNT INVESTED IN EQUIPMENTS
Micro Enterprises:Enterprises who is investing less than Rs 10 lakhs
Small Enterprises:Enterprises who is investing more than Rs 10 lakhs but less than Rs 2 crores
Medium Enterprises:Enterprises who is investing Rs 2 crores but less than Rs 5 crores
Registration Process and Document Required
For MSME registration requires few documents, details about the individual, personal details. Aadhar Card is compulsory in the registration of MSME.
The following are the documents required for the registration process.
- Aadhar number of the applicant
- Bank account number and IFSC code
- The basic business activity of the enterprise
- NIC 2 digit code Investment in plant and machinery/equipment
- MOA and AOA
- Copies of Sales Bill and Purchase Bill
- Name, gender, PAN number, email id and mobile number of the applicant.
- PAN, location, and address of the organization.
- A number of employees and the date, you are planning to start your business.
- Fill Application Form: This is first step in which you have to fill necessary documents or details related to the individual or business.
- Enter Personal Details: In this step you have to fill all your personal details such as name, address, bank account details, pan card.
- Executive Will Process Application: In this step, executive will review your application. If there is any error ,will be notified soon.
- Receive Certificate of Mail: In this step ,after filing the complete form you will get the certificate for MSME Registration. You will get the virtual certificate for MSME Registration as the Ministry will not issue you any hardcopy for it.
Frequently Asked Questions
MSME registration stands for the micro small and medium enterprises registration. THE Government of India launched MSME act to support the MSME through various schemes, incentives and subsidies. The Ministry of Micro, Small and Medium Enterprises, a branch of government of India.
MSME stand for Micro, small and medium enterprises are known as MSME.
At Fiwin you can get MSME registration in just Rs 599.
Yes, GST is mandatory for MSME companies.
MSME certificate validity is for 5 years.
It’s a self declaration format under the MSME with self certify its existence, bank details, owner Aadhar details and the other information which is required.
There is no difference between MSME,SSI& Udyog Aadhar.
Mybiziso provides MSME application services in all over India.
The no provided by the government during the time of registration is called as MSME registration number.
This loan is provided to Micro, Small and Medium enterprises.