MSME stands for Micro, Small and Medium Enterprises. It has a very important role in our Indian economy as it provides support to various industries by supplying raw material, goods or finished products. Classification of MSME in India is done on the basis of investment made in machinery, plants, and equipment.
Why does one require an MSME Registration Certificate?
Recently the Indian government had launched various subsidies, schemes, and incentives for the promotion of MSME registration under the MSMED Act. Banks are also providing various loans to MSME companies at very low rates. That’s why it has become necessary to get an MSME registration certificate to get all these benefits from the banks and state and central government.
Importance of MSME Registration for Small Scale Industries
MSME registration is an important tool for the accountability and transparency of the small scale industries. Here are some of the advantages to follow MSME Registration Process for small scale industries:
1. Lower interest rates on various loans.
2. Subsidy in tax
3. Subsidy tariffs.
4. Free collateral loans from the banks
5. Eligibility under IPS subsidy.
6. ISO certificate Reimbursement.
7. Exemption schemes for excise duty.
8. Capital investments subsidy.
9. Reservation policies for the production and manufacturing sectors.
Eligibility Criteria for MSME Registration Certificate
To get the MSME registration certificate, you need to fulfill one or multiple criteria that are given as follows:
- You are an exclusive owner of a business or handling a sole proprietorship.
- You are part of the undivided Hindu family.
- You are part of OPC or one person company.
- You have a limited liability partnership.
- You work under co-operative societies
- You work with another party in association or have a partnership firm
- You are the owner of a private limited company.
Documents required for the MSME Registration Process
The following documents required for MSME registration process-
- PAN card of all the directors or partners or proprietor.
- Aadhar card of all the directors or partners or proprietors.
- Any kind of allotment letter, lease agreement, possession letter or property tax receipt as a proof of ownership of the premises.
- In case of rented premises, you require NOC or no objection certificate from the landlord and rent agreement along with the utility bill.
- A Sale bill copy for each end product purposes.
- Purchase bill copy of all the raw materials purchased for the production.
- In the case of the partnership business, you require a copy of the partnership deed.
- Copy of certificate of incorporation in addition to the memorandum of association and article of association in case of private limited companies.
- Copy of industrial license
- RS 10 affidavit attested by the notary public affixed to provide the status of installed machinery.
- Installed a machinery purchase bill.
- Bank account statement.
- Bills of installation and purchasing of plant and machinery.
Benefits of choosing Enterslice for MSME Registration
- 100% client satisfaction with minimal MSME registration charges
- No hidden charges.
- End to end assistance for better communication with our clients.
- Well qualified and experienced advisors to help you out in the MSME registration process.
For better guidance regarding your queries, feel free to contact us on our mailing address info@enterslice.com or directly call us.
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