MSME Registration

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Advantages Of MSME

Registration of Micro, Small…..

Registration Time

MSME Registration in just 2-3 Days

Documents Required

List of Documents / IDs for registration

What is MSME?

MSME stands for micro small and medium-sized enterprises. Registration under the MSMED Act provides benefits and access to subsidies and schemes. The registration scheme has no statutory basis. Units would normally get registered to avail some benefits, incentives or support given either by the Central or State Govt. So, to avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.

Ministry of Micro, Small and Medium Enterprises

Ministry of Micro, Small and Medium Enterprises (MSME) is a branch of India Govt. which is the apex body that looks after administration and formulation of laws, rules and regulations related to micro, small and medium enterprises in India. Gijiraj Singh is currently the minister of MSME since 3rd September 2017. There are benefits of registering in MSME and we will also dig into it. But, let us first know what is msme? The Allocation Of Business Rules under Govt. of India was amended by President of India in 1961, where the Ministry of Small Scale Industries and the Ministry of Agro and Rural Industries were merged into one industry, MSME. To be a part of it, you will have to do msme registration and small scale industry registration.

What are Micro, Small & Medium Enterprises ?

According to Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the MSME can be classified into two classes :

1. Manufacturing Enterprises- It is defined in terms of investment in Plant & Machinery.
Development and Regulation Act, 1951 – Manufacturing and production of goods for any industry in the first schedule to the particular industries.
Employing plant and machinery in the process of addition of value to the final product having distinct character or name or use.
2. Service Enterprises- It is defined in terms of investment in equipment.
Engaged in rendering or providing services.

Now let us see the limitations in the investment in plant and machinery under both the sectors.

1. Manufacturing Sector –
Micro Enterprises- Can’t exceed 25 lakh rupees.
Small Enterprises- More than 25 lakh rupees but can’t exceed 5 crore rupees.
Medium Enterprises- More than 5 crore rupees but can’t exceed 10 crore rupees.

2. Service Sector –
Micro Enterprises- Can’t exceed 10 lakh rupees.
Small Enterprises-More than 10 lakh rupees but can’t exceed 2 crore rupees.
Medium Enterprises- More than 2 crore rupees but does not exceed 5 crore rupees.

What Are The Schemes Under MSME ?

Prime Minister Employment Generation Programme and Other Credit Support Schemes –

The two schemes Rural Employment Generation Programme (REGP) and Prime Minister’s Rojgar Yojana (PMRY) were merged to form this.
Established micro enterprises in urban and rural areas for generating employment opportunities.
It is a central sector scheme.
The statutory organization, Khadi and Village Industries Commission (KVIC), under the administrative control of the Ministry of MSME implements it at the national level.
State KVIC Directorates, District Industries Centres (DICs), State Khadi and Village Industries Boards (KVIBs) and banks implement it at the state level.

Schemas under it are : Prime Minister Employment Generation Programme(PMEGP), Performance and Credit Rating Scheme, Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTMSE), Interest Subsidy Eligibility Certificate (ISEC).

Objectives :
Providing sustainable and continuous employment opportunities in Urban and Rural areas of the country.
Providing sustainable and continuous employment to large segment of prospective and traditional artisans, urban and rural unemployed youth by setting up micro enterprises.
Facilitating participation of financial sector and institutions for the micro sector from higher credit flow.

Development of Khadi, Village and Coir Industries –

Schemas included are Science and Technology Scheme, Market Promotion & Development Scheme (MPDA), Revamped Scheme Of Fund for Regeneration Of Traditional Industries (SFURTI), Coir Udyami Yojana (CUY), Coir Vikas Yojana (CVY).
Under Coir Vikas Yojana, schemas are Skill Upgradation & Mahila Coir Yojana (MCY), Development Of Production Infrastructure (DPI), Domestic Market Promotion Scheme, Export Market Promotion, Trade and Industry Related Functional Support Services (TIRFSS).

Technology Upgradation and Quality Certification –
Schemas included are Financial Support to MSMEs in ZED Certification Scheme, A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), National Manufacturing Competitiveness Programme (NMCP).

Under National Manufacturing Competitiveness Programme (NMCP), we have Credit Linked Capital Subsidy for Technology Upgradation, ISO 9000/ISO 14001 Certification Reimbursement, Marketing Support/Assistance to MSMEs (Bar Code), Lean Manufacturing Competitiveness for MSMEs, Design Clinic for Design Expertise to MSMEs, Technology and Quality Upgradation Support to MSMEs, Entrepreneurial and Managerial Development of SMEs through Incubators, Enabling Manufacturing Sector to be Competitive through QMS&QTT, Building Awareness on Intellectual Property Rights (IPR).

Marketing Promotion Schemes –
Schemas included are International Cooperation, Marketing Assistance Scheme, Marketing Assistance & Technology Upgradation (MATU), MSME Market Development Assistance (MDA).

Entrepreneurship and Skill Development Programme –
There is Assistance to Training Institutions (ATI) in it.

Infrastructure Development Programme –
The Micro & Small Enterprises Cluster Development (MSE-CDP) schemas included.

What Are The Benefits Of MSME Registration ?

After registration, the enterprise becomes eligible to take the benefits offered by MSMED Act. The benefits include :

Priority Sector lending which enables easy sanction of loans.
Lower rates of interest.
Excise exemption scheme includes exemption under Direct Tax Laws.
Statutory support for Direct Tax Laws interest on Delayed Payments Act and reservation.

Credit Guarantee Scheme (CGTMSE) :
i. The optimal eligibility loan was increased from 25 lakhs to 50 lakhs.
ii. One-time guarantee for loans in North-Eastern Region reduced from 1.5% to 0.75%.
iii. The extent of guarantee cover increased from 75% to 80% for the Muslim women, small scale industries and micro enterprises upto loan of 5 lakhs.
Facilities and Incentives State Government and Union Territories provide :
Development of specialized industrial estates.
Tax subsidies.
Power tariff subsidies.
Capital investment subsidies.
Extension of supports and services for industries.
Hire-purchase of machinery.
Assistance within and outside the country in marketing.
Assistance for constructing industries in underdeveloped places.
Assistance in capital, technical consultancy for enhancing technology.

What are the Acts, Rules and Circulars in MSME?

Acts :
The Coir Industry Act, 1953
“[An Act to provide for the establishment of a Board for the development of the Coir Industry and for that purpose to levy a customs duty on coir fibre, coir yarn and coir products exported from India and for matters connected therewith.]”
It focuses on the promotion of exporting of coir yarn and products and carrying the propaganda.
It regulates under the Central Government and looks at the production of husks and coir products. It also registers coir spindles and looms.
It assists and encourages economic and technological researches.
The Micro, Small and Medium Enterprises Development Act, 2006 – 16 June 2006
“[An Act to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto]”
It looks after development and promotion of micro, small and medium enterprises. It also reviews programmes and policies taken by Central Government to promote and enhance such enterprises.
It recommends on matters that include the development of such enterprises.
Khadi & Village Industries Commission Act, 1956
“[An Act to provide for the establishment of a Commission for the development of Khadi and Village Industries and for matters connected therewith.]”
The Industries(Development and Regulation) Act, 1951
“[An Act to provide for the development and regulation of certain industries.]”

Ministry of Small Scale Industries

It is defunct Indian government ministry which was merged with Ministry of Agro and Rural Industries which formed Ministry of Micro, Small and Medium Enterprises.

Benefits Of Small Scale Industries Registering :

Excise Exemption Scheme.
Credit prescription (Priority sector lending).
Differential rates of interest.
Exemption under Direct Tax Laws.
Statutory support : reservation and the Interest on Delayed Payments Act.

Objectives of the Registration Scheme :

Maintain and enumerate small industries to provide with the package of support and incentives.
Provide a certificate to enable units to get statutory benefits and protection.
Collection of statistics.
Creation of nodal centres at Centre, District and State levels.
Units not requiring an industrial license (In licencing Exemption Notification items listed in Schedule-III and not in Schedule-I or Schedule-II) can apply.
Units having less than 50/100 employees with/without power can apply for items listed in Schedule-II.
We have discussed regarding MSME. For getting benefits you deserve, register yourselves soon!

Advantages Of MSME Registration

Registration of Micro, Small and Medium (MSME) Enterprises under MSMED Act is a very powerful medium to enjoy the benefits.  MSME Registration process provides maximum benefits to all types of enterprises. Some of the benefits from Central Government include Easy finance availability from Banks, Reimbursement of ISO Certification Expenses, Preference in procuring Government tenders, Stamp duty and Octroi benefits, Concession in electricity bills, Reservation policies to manufacturing / production sector enterprises, Protection against delay in payment from Buyers and right of interest on delayed payment.

GSome of the benefits provided by State Government for MSMEs includes the development of specialized industrial estates, tax subsidies, power tariff subsidies, capital investment subsidies and other support. Both the Centre and State, whether under law or otherwise, target their incentives and support packages generally to units registered with them.

Procedure for MSME CERTIFICATE Registration

  • 1. Submit Your Documents.

     

    You need to submit the required documents with us.

  • 2. Verification And Document Submission: 1 working day

     

    After verifying all the required documents, we will apply for your MSME

  • 3. Your Work Is Completed.

     

    Once Application Submitted, Acknowledgment and Memorandum for Udyog Aadhar under MSME Act gets generated.

Procedure for MSME CERTIFICATE Registration

1.Complete our registration form:

You need to submit the required documents with us.

2.  Verification And Documents Submission: 1 working days

After Verifying All The Required Documents, We Will Apply For Your GST

3. Your work is completed:

Once Application Submitted, Acknowledgment and Memorandum for Udyog Aadhar under MSME Act gets generated.

DOCUMENTS REQUIRED

Bank Documents

Bank Statement or Cancelled Cheque

Registered Office

Proof of Establishment (Sale Deed or Rent Agreement)

ID Proof

Aadhar Card and Pan Card of the Authorized Person

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