MSME Registration

What is MSME: MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. These industries are also known as small-scale industries or SSI’s.

Importance of MSME: MSMEs not only play crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth.

Advantages of MSME: 

Bank Loans (Collateral Free)

Subsidy on Patent Registration

Overdraft Interest Rate Exemption

Protection against Payments (Delayed Payments)

Industrial Promotion Subsidy Eligibility

Fewer Electricity Bills

ISO Certification Charges Reimbursement

Important points to be noted during MSME Registration

Aadhar number should be linked with a mobile number.

Address as per Shop Act Registration should match MSME Registration and owners details should also match.

if registered under GST, details under GST should match wirh MSME Registration.

A Correct Industrial code should be selected while applying for MSME Registration.

Investment in Plant & Machinery or Turnover should be selected correctly while applying for MSME Registration.

MSME is a one time Registration, there is no renewal required under MSME Act.

No return filing required under MSME, however MSME Registration should be updated according to changes in business.

Documents required for MSME Registration

PAN Card of Individual

Aadhar Card of Individual

Passport Size Photo of Individual

Address Proof – Electricity bill / water bill / telephone bill

Shop Act Registration Certification if registered under respective State Law

In case of Partnership Firm, Partnership Deed, Partnership address proof and all Partners PAN Card, Aadhar Card and Photo

In case of Company, MOA & AOA, address proof of the Company and all Directors PAN Card, Aadhar Card and Photo