MSME

ABOUT MSME REGISTRATION

What is MSME?

MSME Stands for Micro, Small and Medium Enterprises it facilitates development & promotion of enterprises through various benefits & schemes.

When to register under MSME?

If someone wants to avail benefits from Central or State Government and the Banking Sector then MSME Registration is required

Who Monitors MSME Registration?

 It is governed by MSMED Act 2006 in India under the Ministry of Micro, Small and Medium Enterprises 

Micro Enterprises 

It is an enterprise whose investment in manufacturing sector in its Plant & Machinery is < 25 Lakh and in service sector in its equipment < 10 Lakh

Small Enterprises 

It is an enterprise whose investment in manufacturing sector in its Plant & Machinery is < 5 Crore and in service sector in its equipment < 2 Crore

Medium Enterprises 

It is an enterprise whose investment in manufacturing sector in its Plant & Machinery is < 10 Crore and in service sector in its equipment < 5 Crore

HOW MSME REGISTRATION HELPS THE BUSINESS

• Low-Interest rate - All banks and other financial institutions recognize MSMEs and have created special schemes for them. MSME's get the privilege of lower interest rate on business loans.
• Relaxation in Trademark Government Fees - Government has given relaxation in government fees of the trademark to MSME registered entities. The fee shall be 4500/- for small enterprises despite trademark fee for enterprises other than MSME's is 9000/-
• Credit Support Schemes - Government of India runs several schemes to provide financial assistance to MSME for their business.
• Tender Eligibility - There is a certain quota reserved for MSME Registered Entity in government tender allotment.
• No delayed payment - If an MSME entity has made any sale then the buyer has to pay to the MSME's entity within the 45 days from the date of delivery of product or services.

DOCUMENTS REQUIRED FOR MSME REGISTRATION

• PAN CARD
• ADHAAR CARD
• COMPLETE POSTAL ADDRESS WITH DISTRICT & PINCODE
• BANK ACCOUNT DETAILS