SSI/MSME/Udyog Aadhaar Registration

SSI/MSME/Udyog Aadhaar Registration

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SSI/MSME/Udyog Aadhaar Registration
SSI/MSME/Udyog Aadhaar Registration

SSI/MSME/Udyog Aadhaar Registration

MSME stands for Micro, Small and Medium Enterprise. MSME enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. Therefore, to promote and support MSMEs, the Government of India through different subsidies, plans and incentives promote MSMEs through the MSMED Act. To profit the advantages under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required. Micro scale, Small and Medium sized enterprises in both the production & service sector can get MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is helpful for business as it gives it a scope of advantages such as eligibility for lower rates of interest, power tariff subsidies, tax subsidies, excise exemption scheme, capital investment subsidies and other support.

ADVANTAGE

  1. Micro Enterprises: Micro enterprises are the smallest entities, of course. Micro manufacturing enterprises have investment of less than Rs. 25 lakh in plant and machinery, while micro service enterprises have less than Rs. 10 lakh invested.
  1. Small Enterprises: Small manufacturing enterprises may have between Rs. 25 lakh and Rs. 5 crore invested in plant and machinery, while small service enterprises may have between Rs. 10 lakh and Rs. 2 crore invested.
  1. Medium Enterprises: Medium manufacturing enterprises may have between Rs. 5 crore and Rs. 10 crore invested in plant and machinery, while small service enterprises may have between Rs. 2 crore and Rs. 5 crore invested.

WHAT DOCUMENTS ARE REQUIRED FOR THE APPLICATION?

You may apply for the PRC without an industrial license in case your unit is listed in Schedule-III of the Industrial Licensing Exemption Notification. Other units must first acquire an industrial license. The unit should also have obtained all other clearances, whether statutory or administrative. For example, a drug license under the drug control order or an NoC from Pollution Control Board, if required. The unit should not violate any locational restrictions in force. The unit should not be owned, controlled or subsidiary of any other industrial undertaking. The PRC is issued based on the application form. No field enquiry is made.

FAQ

To be eligible for SSI/MSME registration, a business must be in the manufacturing/service sector and must meet the following criteria: (a)If a manufacturing business, it has less than Rs.10 crores invested in plant and machinery (b)If a service sector business, it has less than Rs.5 crores in investment.

A Micro Enterprise in the manufacturing sector is an enterprise with less than Rs. 25 lakhs of investment in plant & machinery. A Micro Enterprise in the service sector is an enterprise with less than Rs. 10 lakhs of investment in plant & machinery.

A Small Enterprise in the manufacturing sector is an enterprise with more than Rs. 25 lakhs but not exceeding Rs. 5 crores of investment in plant & machinery. A Small Enterprise in the service sector is an enterprise with more than Rs. 10 lakhs but not exceeding Rs. 2 crores of investment in plant & machinery.

A Medium Enterprise in the manufacturing sector is an enterprise with more than Rs. 5 crores but not exceeding Rs. 10 crores of investment in plant & machinery. A Medium Enterprise in the service sector is an enterprise with more than Rs. 2 crores but not exceeding Rs. 5 crores of investment in plant & machinery.

Documents required for SSI/MSME Registration are proof of address of business, proof of identity of the promoters and constitution of the business. Additional documents may be required based on the State in which the MSME Registration is sought.

Enterprises that are registered as SSI/MSMEs get the benefit of subsidies, schemes and incentives.They also enjoy interest rate concession and their borrowing is classified under Priority Sector Lending.

SSI/MSME Registration process is specific to the respective state. MSME Registration can typically be obtained in 10 15 working days.

SSI/MSME Registration is first provided as a Provisional Registration Certificate with a validity of 5 years. Once, the unit has commenced production, a Permanent Registration Certificate is issued which is valid for lifetime of the entity.

To get MSME Registration click here

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