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MSME Registration . MSME stands for micro, small and medium enterprises and any enterprise

MSME Registration . MSME stands for micro, small and medium enterprises and any enterprise
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MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.

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Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support. We can help your business obtain MSME Registration to avail a host of benefits.

BENEFITS OF MSME REGISTRATION

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  • Enterprises that have MSME Certificate can avail Special 50% subsidy on Govt fees for Trademark registration.
  • Bank loan at subsidised rate
  • Rebate and considerations under the Indian tax laws
  • Easy access to credit
  • Excise exemption scheme
  • Power tariff subsidies
  • Capital investment subsidies
  • Tender preferences
  • Access to mudra loan scheme

To avail all these benefits, MSME registration is a must. There is no compulsion. But no MSME registration leads to no benefits. It may add to the already compulsory compliance’s, but, on the brighter side, it comes with many benefits. These benefits were introduced so as to promote MSME sector. MSME sector obviously is given preference and exemptions are provided. It is not only done to lure entrepreneurs but in the hope of employment generation, economic growth and overall development of the nation. The registration should not be seen as a waste of time and money but as an opportunity to enjoy benefits that apparently large companies cannot. In order to go through MSME registration, you can call us. We will be more than happy to assist you.

Registration Criteria

To be classified as a MSME, Enterprises in the Manufacturing sector need to have less than Rs. 10 crores of investment in plant & machinery; service Enterprises must have an investment of less than Rs.5 crores of investment in plant & machinery.

Classification of the enterprises

Micro Enterprises

A Micro Enterprise in the manufacturing sector is an enterprise with less than Rs. 25 lakhs of investment in plant & machinery. A Micro Enterprise in the service sector is an enterprise with less than Rs. 10 lakhs of investment in plant & machinery.

Small Enterprise

A Small Enterprise in the manufacturing sector is an enterprise with more than Rs. 25 lakhs but not exceeding Rs. 5 crores of investment in plant & machinery. A Small Enterprise in the service sector is an enterprise with more than Rs. 10 lakhs but not exceeding Rs. 2 crores of investment in plant & machinery.

Medium Enterprise

A Medium Enterprise in the manufacturing sector is an enterprise with more than Rs. 5 crores but not exceeding Rs. 10 crores of investment in plant & machinery. A Medium Enterprise in the service sector is an enterprise with more than Rs. 2 crores but not exceeding Rs. 5 crores of investment in plant & machinery.

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DUNIYA KI INFO

Must read this article very informative

1 Months ago

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