We all know that India is transforming very rapidly as youth is moving towards startup. As a result, government is introducing beneficial schemes for MSMEs (Micro, Small & Medium Enterprises)...
MSME stands for Micro, Small and Medium Enterprise and any other enterprise as the authority deems fit under this categories. These small and medium enterprises are proved to be a backbone of the economy and also act as an engine of the economic growth by accelerating equitable development for all.
Therefore, to promote these small and medium enterprises the government has lent a helping hand by initiating various subsidies, schemes, and incentive under the roof of the MSMED Act. However, to get all these benefits in your pocket you should get your MSME registration.
The very first thing that comes to our mind is what MSME is all about. Hence, the following are the brief explanation covering MSME investing in plant and machine by manufacturing factor –
- Micro Enterprise- entities that invest less than 25lakhs in plant and machinery
- Small Enterprise- an entity that invests between 25 lakhs to 5 crores in plant and machinery
- Medium Enterprise- an entity that invests between 5 crores to 10 crores in plant & machinery
MSME enterprise is also categorized with the investing in the equipment in servicing sector –
- Micro Enterprise- entities that are investing less than 10 lakhs
- Small enterprises- entities that are investing more than 10 lakhs but less than 2 crores
- Medium Enterprise- entities that are investing between 2 crores to 5 crore
How to get MSME Registration in India?
Now, coming to our main topic which is how to get an MSME Registration in India? The following are the steps which you need to follow –
- Check the Eligibility Criteria as an applicant
The following are the applicants that are eligible for the MSME Registration in India-
- Sole Proprietor
- Hindu Undivided family
- Partnership firm
- One person company
- Limited liability Partnership
- Private Limited Company
- Production Company that produces materials
- Association with another person
- Cooperative societies
- Documents Required for Registration
- Pan card of the applicant
- Aadhar card of the applicant
- Proof of ownership of premises such as allotment letter/ possessing letter/ lease agreement/ Property tax receipt
- If the premises are on rent then Rent agreement or the lease agreement and NOC from the landlord along with the supporting documents of landlord ownership
- Copy of the sale of each end product
- Copy of the purchase bill of the material
- Partnership Deed
- Copy of the memorandum of association and Article Of Association a din case of Private Limited Company along with the Board’s Resolution
- Copy of the Industrial license obtained from the IRDA Act, 1951
- An affidavit of Rs 10 – with a non- judicial stamp paper duly attested by the Notary
- Bill of machinery Installed
- Bank account statement
MSME Registration is completely online but you need to have the professional expertise to fill up your application and getting approval from the department because the application should be made according to the latest rules and regulations.
We have tried to explain to you about the MSME Registration in our best way and keeping all the important data in a single article.