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Micro, small and medium enterprises (MSME)
MSME stands for micro, small and medium enterprises, categorized based on the annual revenue in business. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required and it is valid for the Lifetime.
Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not mandatory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.
ComplianceIndia can help your business obtain MSME Registration to avail a host of benefits.
Advantages of MSME Registration
Liability to apply for MSME Registration
As per revised classification applicable w.e.f. 1st July, 2020, following are eligible to get registered as an MSME
Composite Criteria: Investment in Plant & Machinery/equipment and Annual Turnover
|Manufacturing Enterprises and Enterprises rendering Services||Investment in Plant and Machinery or Equipment:
Not more than Rs.1 crore and Annual Turnover: not more than Rs. 5 crore
|Investment in Plant and Machinery or Equipment:
Not more than Rs. 10 crore and Annual Turnover: not more than Rs. 50 crore
|Investment in Plant and Machinery or Equipment:
Not more than Rs. 50 crore and Annual Turnover: not more than Rs. 250 crore
How we Work?
Documents and Details required for MSME registration
AADHAR card of the Applicant (Proprietor/ Partner/ Director)
Name of Applicant
Caste and Gender of Applicant
Name and Type of Business/ Enterprise
Address of the Plant you are setting up in a place
Date of Commencement of the Business
Copy of PAN card
Bank Details (Account No. and IFSC code)
Mobile No. of Applicant (Linked with AADHAR)
Email Id for OTP Verification
Main Business Activity Details
Number of employees
Investment in Plant and Machinery and Equipment
Photo and Id Proof of Applicant
|Parameters||MSME Registration||Professional Tax Registration||GST Registration||Importer Exporter Code||Shop & Establishments Registration|
|Applicable to||All Micro, Small and Medium Enterprises||Applicability defers based on State Act||Businesses exceeding a prescribed threshold for turnover||All importers and exporters||Applicability defers based on State Act|
|Regulatory body||Central Government||State Government||State and Central Government||Central Government||Municipal Corporation|
|GET STARTED||KNOW MORE||KNOW MORE||KNOW MORE||KNOW MORE|
Our charges for application of MSME Registration starts from Rs. 4,999/-.
Frequently Asked Questions
1. What are the documents required for MSEM online Registration?
No document required for MSME Registration/ SSI Registration. Only information provided in Online Application Form is enough
2. Who Can Apply for MSME Registration?
Any entrepreneur having valid Aadhaar Number can apply for MSME Registration Online.
3. Is physical copy of Certificate will be issued?
In the interest of environment no physical copy of MSME Certificate will be issued. Government believes in paperless work.
4. Is Aadhaar Number mandatory for online MSME Registration?
At present Aadhaar Number is mandatory for issuance of MSME Certificate
5. When MSME Registration Certificate will be issued?
After filing online MSME application form, MSME Registration Certificate will be issued immediately at email.
6. What are the chances of rejection of Online MSME Application?
Every application will be approved. No application will be rejected. Application will be approved on the basis of information provided by applicant.
7. Are there specialized bank branches for lending to the MSMEs?
Public sector banks have been advised to open at least one specialized branch in each district. The banks have been permitted to categorize their MSME general banking branches having 60% or more of their advances to MSME sector, as specialized MSME branches for providing better service to this sector as a whole. As per the policy package announced by the Government of India for stepping up credit to MSME sector, the public sector banks will ensure specialized MSME branches in identified clusters/centres with preponderance of small enterprises to enable the entrepreneurs to have easy access to the bank credit and to equip bank personnel to develop requisite expertise. Though their core competence will be utilized for extending finance and other services to MSME sector, they will have operational flexibility to extend finance/render other services to other sectors/borrowers
8. Why is credit rating of the micro small borrowers important?
With a view to facilitating credit flow to the MSME sector and enhancing the comfort-level of the lending institutions, the credit rating of MSME units done by reputed credit rating agencies and it should be encouraged. Banks are advised to consider these ratings as per availability and wherever appropriate structure their rates of interest depending on the ratings assigned to the borrowing SME units.
9. What is the difference between MSME Registration and SSI Registration?
There is no difference between MSME Registration and SSI Registration. Earlier MSME Registration was know as SSI Registration.
10. Can the MSE borrowers get collateral free loans from banks?
In terms of RBI circular, banks are mandated not to accept collateral security in the case of loans upto Rs. 10 lakh extended to units in the MSE sector. Further banks may, on the basis of good track record and financial position of MSE units, increase the limit of dispensation of collateral requirement for loans up to Rs. 25 lakh with the approval of the appropriate authority.
11. Is there support available for obtaining ISO certification?
The Ministry is implementing the ISO: 9001/14001/HACCP Certification Reimbursement Scheme for Micro & Small Enterprises (MSEs) for reimbursement of certification expenses, only to those MSEs which have acquired Quality Management Systems (QMS)/ISO 9001 and/or Environment Management Systems (EMS)/ ISO14001 and/or Food Safety Systems (HACCP) Certification. Under the scheme provides reimbursement of 75% of the certification expenses up to a maximum of Rs. 75,000/- (Rupees seventy five thousand only) to each unit as one-time reimbursement only to those MSEs which have acquired Quality Management Systems (QMS)/ISO 9001 and/or Environment Management Systems (EMS)/ ISO14001and/or Food Safety Systems (HACCP) Certification.
12. Is credit rating mandatory for the MSE borrowers?
Credit rating is not mandatory but it is in the interest of the MSE borrowers to get their credit rating done as it would help in credit pricing that is cost of funds (interest and other charges etc.) of the loans taken by them from banks.
13. What benefits are given by state and central government?
Most states offer those units registered under the MSMED Act a subsidy on power, taxes, and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preferences on goods produced. The Central and State Governments provide certain important benefits to MSME in the initial years of business. Exemption in excise and certain direct taxes are just to name a few.
14. Which activities are excluded from the registration?
With notification issued dated 27.06.2017, the ministry has excluded activities of wholesale or retail trading; Fishing and aquaculture; Forestry and logging; and more. Business entities engaged solely into activities falling under such categories cannot make an application for registration.
15. How long does it take to obtain MSME registration?
MSME Registration process is state specific. Therefore based on the state, the MSME Registration processing time differs. MSME Registration can typically be obtained in 10 to 15 working days.
16. What is the validity of a MSME Registration?
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.