In a developing country like India, MSME industries are the backbone of the economy. support and promote MSMEs, the Government of India is providing various subsidies and incentives. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required
MSME stands for Micro, Small and Medium Enterprises. The Micro- Small and Medium Enterprises (MSMEs) are small sized entities, defined in terms of their size of investment.
The MSMEs are classified in terms of investment made in plant and machineries if they are operating in the manufacturing sector and investment in equipment for service sector companies.
In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes:
MSME are classified into two categories:
They are defined in term of investment in Plant and Machinery/ Equipment as below
Classification of the MSME | Manufacturing Enterprise | Service Enterprises |
---|---|---|
Micro | Less than 25 lacs | Less than 10 lacs |
Small | 25 lacs to 5 crore | 10 lacs to 2 crore. |
Medium | 5 crore to 10 crore | 2 crore to 5 crore. |
In a developing country like India, MSME industries are the backbone of the economy. support and promote MSMEs, the Government of India is providing various subsidies and incentives. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.
MSME Registration is an optional Registration under the MSMED Act that provides Micro, Small and Medium sized enterprises with a host of benefits and accessto subsidies and schemes. MSME Act provides the legal framework and recognizes these small and medium enterprisesCheaper bank loans. Much lower interest then on regular loans.
Indian government has provided many benefits for small scale units or medium small and micro enterprises (MSME). In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under MSMED Act.
Fill a single form for registration which he can do online as well as offline.
For registration of for more than one industry one can do individual registration
Submit/upload-following document's:-