MSME/SSI Registration Online @ Just Rs. 1,099/-
Micro, Small and Medium Enterprises constitute the backbone of an economy in maintaining an appreciable growth rate and in generating employment opportunities.
The MSMEs in India constitute about 80% of the total number of industries and produce about 8,000 value added products.
The enactment of Micro, Small & Medium Enterprises Development (MSMED) Act, in 2006 by the Government of India (GOI) gave a legal basis and framework to the micro, small and medium enterprises by defining and classifying these enterpriserson a uniform basis. This classification covers industries both under manufacturing and service sector and the above limits are excluding the cost of land, building and other specified items.
MSME’s are classified into 2 categories viz. Manufacturing Enterprises & Service Enterprises:
Less than Rs. 25 Lakh
Less than Rs. 50 Lakh
Less than Rs. 100 Lakh
Less than Rs. 10 Lakh
Less than Rs. 20 Lakh
Less than Rs. 50 Lakh
Benefits of SSI/MSME Registration
- Priority Lending
- No collateral on loans: MSME registered companies don’t need to pay security to obtain the loan from banks.
- Less interest rates and availability and access to greater credit
- Income Tax exemption
- Market assistance from the government and Export Promotion
- Capital and other grants for infrastructure development
- Reimbursement of ISO Certification
- Exclusive purchases and sheltering from competition
- Technology and quality upgradation support to MSMEs
- Subsidy in patent registration: There is a 50 % subsidy in patent registration for the MSMEs
- Subsidy in Trademark registration: There is a 50 % subsidy in trademark registration for the MSMEs
- Access to Industrial promotion subsidy: Under the Industrial promotion plan, the MSMEs enjoy a lot of subsidies when they wish to improve their equipment.
- Electricity bill Concessions: MSMEs can get concessions in their electricity bill.
- Low-cost ISO certification: An MSME can ask for reimbursement for the charges of ISO certification.
- Government exclusivity: There are certain government projects that are exclusively handled by MSMEs.
Documents required for MSME Registration
- Individual Aadhaar number
- Firm/ Company name
- Plant/ Office Address
- Bank account details and some common information