What are the Benefits of MSME Registration?

Swarit Advisors
| Updated: Jun 06, 2018 | Category: Government, MSME

MSME organizations are the foundation of any economy and are essential for financial development, promoting impartial advancement for all. In this manner, to help and advance MSMEs, the Government of India through different sponsorships, plans and motivations promote MSMEs through the MSMED Act. You must apply for MSME Registration, in order to benefit yourself from the advantages available under the MSMED Act from Central or State Government and the Banking Sector. This blog will help your business people, entrepreneurs in understanding the advantages that come under benefits of MSME Registration that startups ought not to miss.

Enterprise related to medium, small or micro size level in both the manufacture & servicing sectors can avail MSME Registration Online under MSMED Act. Despite the fact that the MSME registration isn’t statutory, it is advantageous for business as it gives a range of benefits, for example, lower rates of interest, tax subsidies, tariff subsidies, capital investment, and other supports. MSME stands for medium, small, and micro enterprises and those organizations who fall under this category need MSME Registration.

What Is SSI Registration?

The SSI enrollment should be possible for securing each one of the advantages and accessible endowments that are given to MSME. SSI Registration will add to the monetary development of the country. With the assistance of SSI Registration, one might have the capacity to acquire loans, capital for working and government administrative bodies. Henceforth there are various advantages which have been given by the Indian government for accomplishing the monetary development at a speedier pace and with SSI Registration one can get simple acknowledge and subsidies along with exemptions.

What Are the Documents required for MSME Registration?

If you are planning to apply for MSME Registration then you may get in touch with our specialists who are having years of expertise in dealing with the complex terms that you might face while applying for it. We can make it easy for you, all you have to do is to reach us either through an email address or phone number mentioned in our Swarit Advisors website. We will feel glad to help you. Have a look at the list of the documents that are required for MSME Registration:

  • PAN card of the members or directors of the organization,
  • Partnership Deed, Copy of Memorandum of association & Articles of association i.e. MOA & AOA, in case of the private limited company,
  • Statement of bank account,
  • Purchase bill of machinery installed,
  • Aadhaar card of the proprietor, all members or directors of the company, partners of LLP or partnership
  • Copy of sales bill for each product

What is the Eligibility Criteria of MSME Registration?

The MSME registration has its own criteria that must be fulfilled. If you are applying for MSME Registration, then you must fulfill one of the criteria mentioned below such as:

  • You belong to a Hindu undivided family,
  • You own a private limited company or a limited liability partnership,
  • You are a sole proprietor, or you have co-operative societies,
  • You own a production company that produces different materials,
  • You work in association with other persons or any other undertakings,

In case of any help or support or any queries consider our experts as reliable solution provider at Swarit Advisors whenever you wish.

Also, Read: Eligibility Criteria to Acquire a MSME Registration Certificate

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Swarit Advisors

Swaritadvisors.com is technology motivated platform establishing the specialized legal & Financial advisory services in India. We are dedicated to helping startups and MNC in solving legal, Taxation and compliance related to starting and running their business around the world.

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