Micro, Small and Medium Enterprises (MSME) Registration

For any enterprise falling under the above, registrations can be obtained through the MSME Act. Although the registration is not yet made mandatory by the Government but it is beneficial to get one’s business registered. MSME registration is to be done in the government portal of udyamregistration.gov.in

Private Limited/ Partnership

• Aadhar card

• If ITR was filed previously (if yes what type)

• PAN Card copy

• GSTIN (if available)

• Previous EM-II or UAM reg no. if any

• MOA, AOA (for date of incorporation and date of commencement of business)

• Bank details

• Depreciation and investment details of Plant and Machinery or Equipment.

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Sole proprietorship

• Aadhar card

• If ITR was filed previously (if yes what type)

• PAN Card copy

• GSTIN (if available)

• Previous EM-II or UAM reg no. if any

• MOA, AOA (for date of incorporation and date of commencement of business)

• Bank details

• Depreciation and investment details of Plant and Machinery or Equipment.

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Under the Aatmanirbhar Bharat Abhiyan (ABA), the classification of MSME is as follows:

Micro : Investment less than Rs. 1 crore Turnover less than Rs.5 crores

Small : Investment less than Rs. 10 crores Turnover up to Rs. 50 crores

Medium :Investment less than Rs. 50 crores Turnover up to Rs. 250 crores

BENEFITS OF REGISTRATION

• Collateral Free loans from banks

• Reservation policies to manufacturing / production sector

The Reservation Policy has two objectives

• Ensure increased production of consumer goods in the small-scale sector.

• Expand employment opportunities through setting up of small-scale industries

• Easy to get Licenses, approvals and registrations

• Exemption under Direct Tax Laws

• Protection against delay in payment

• Reduction in rate of Interest from banks

• Concession in electricity bills

• 1% exemption on interest rate on OD

• Preference in procuring Government Tenders

• Additional subsidies provided

1. Industrial Promotion Subsidy (IPS)

2. Bar Code Registration subsidy

3. Subsidy on NSIC Performance and Credit ratings

4. 15% Credit Linked CGSTI Subsidy Scheme (CLCSS)

5. 50% subsidy for patent registration