MSME | SSI Registration
MSME | SSI Registration
The Term MSME Stands for Micro, Small and Medium Enterprises.A/c to Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, small, MSME also called SSI and Medium Enterprises (MSME) are divided into two classes:
Documents required for MSME / SSI Registration:-
- Aadhaar Card (soft copy Attachment)
- Social Category (General/OBC/SC/ST)
- Name of Enterprise / Business
- Type of Organization (Proprietorship/Partner/LLP/Pvt.Ltd)
- PAN Card (Proprietor/Firm / Company)
- Office Address, Mobile No & Email Id
- Bank Account no and Bank IFS Code (Proprietor/Firm / Company)
- Main Business Activity of Enterprise (Your Firm / Company Work)
- Number of employees
- Investment in Plant & Machinery / Equipment
Features of MSME | SSI Registration:-
Benefits from Banks: All banks and other financial institutions recognize MSMEs and have created special schemes for them. This usually includes priority sector lending, which means that the likelihood of your business being sanctioned a loan is high, and lower bank interest rates. There may also be preferential treatment in case of delay in repayment.
- Benefits from State Governments: Most states offer those who’ve registered under the MSMED Act subsidies on power, taxes, and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preference on goods produced.
- Benefits from Central Government: The central government, from time to time, announces schemes to benefit MSMEs, such as the credit guarantee scheme:
- Credit Guarantee Scheme (CGTMSE): One of the major struggles that the small scale industries face is credit and input of income from various sources to support them.
- The Credit Guarantee Scheme, introduced to support MSME, comes with modifications to make it more beneficial for small traders:
1.What is MSME ?
MSME meaning Micro Small and Medium Enterprises as defined under MSME development Act 2006.
2. What is the Difference Between MSME, SSI & Udyog Aadhar ?
There is no difference between MSME, SSI & Udyog Aadhar. There are all one and the same.
3. Who can Apply For MSME Registration ?
Any entrepreneur having valid Aadhaar Number can apply for MSME Registration Online.
4. What is the definition of MSME ?
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below: • A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; • A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore; • A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore.
5. Is Aadhaar Number mandatory for online MSME Registration ?
At present Aadhaar Number is mandatory for issuance of MSME Certificate.