Follow the Procedural Steps for MSME Registration in India

In this article we will discuss what MSME Registration is, why you should do MSME Registration, the types of MSME Registrations and how can you do your MSME Registration. So let’s begin by knowing firstly what MSME is all about?

MSME stands for micro small medium enterprises. In the same category there’s another term i.e SSI which stands for small scale industries. Both fall under the same category. Now these businesses come under Udyog Aadhaar and are the foundation of economic growth and development making them the back bone of Indian economy.

The Indian government hence gives an array of benefits to them to encourage their number and progress. The benefits include things like lower rates of interests, some favouring rules regarding settlement of disputes with the distributors or promoters, more tax rebates etc. But to avail for these attractive benefits, all you need is an MSME Registration Process. The MSME Registration is not mandatory but it’s a good idea to get the Registration just to avail the benefits.

The laws related to MSME Registration.

The MSME Registration application is done under the MSMED act and the MSME businesses could be in both the sectors, either manufacturing or service. The MSME Registration has three categories depending on the type of work and the annual turnover or investments are put forth into that business.

Following are the three categories: -

Types of MSME Registration based on their size, Investment and turnovers

·         Micro Enterprises- This micro enterprise Registration category is the smallest of all three categories of MSME Registration. And the criteria for getting an MSME Registration under micro enterprise is: -

a)                 The Investment in manufacturing sector should not be more than the amount of Rs 25 lakhs.

b)                 The Investment in case your business is in service sector, should be not more than the amount of Rs 10 lakhs.

·         Small Enterprises-The small enterprise category is the middle one within the MSMEs and the Registration criteria for it is the following: -

a)                 The Investment for manufacturing sector of businesses should be more than the amount of Rs 25 lakhs but shouldn’t exceed the amount of Rs 5 crore.

b)                 In the service sector, the Investment must be more than the amount of Rs 10 lakhs but not exceeding the amount of Rs 2 crores.

·         Medium Enterprises-The very last category of the MSMEs for MSME Registration. And the criteria for it is as followed: -

a)                 The manufacturing category must have an investment more than the amount of Rs 5 crores but must not exceed the amount of Rs 10 crores.

b)                 The service sector must have an investment more than the amount of Rs2 crores and not exceed the amount of Rs5 crores.

What should you be prepared with for MSME registration application?

·         Government Registration frees

·         The MSME Registration application form.

·         Prescribed list of documents for submission at the registrar office.

Procedural steps for MSME/SSI Registration

1)                 Complete the MSME Registration application form or SSI Registration Online application form.

2)                 Prepare required documents for MSME Registration, this takes 1 to 2 days.

3)                 File the MSME Registration application along with all the arranged documents. Filing is to be done with the MSME registrar. This step takes 2 days.

4)                 Next, you submit MSME Registration application and it will get verified and your job for MSME Registration here gets complete. And you now just wait for the approval.

5)                 Now after approval, you will be granted MSME Registration certificate.

Now your MSME Registration is complete and you are eligible for availing for the government given benefits. But in case, you need the help of professionals then our reliable experts are 24/7 hr available to help you in every possible way. Dial our phone number or drop us an email anytime when you need.  

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