MSME Scheme

About Us MSME

MICRO SMALL AND MEDIUM ENTERPRISES (MSME)

MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. 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. 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 statutory, 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 .

What is MSME Registration?

Micro, Small, and Medium Enterprise (MSME) is the backbone of countries like India because these are the primary contributors to the socio-economic development of the country.
Statistically, India constitutes approximately 6.3 crores MSMEs. Also, the registration of MSME has increased by 18.5% year-over-year (Y-o-Y). Along with this, this sector contributes approximately 29% of GDP by national and international trade.
Additionally, MSME is also known as Small Scale Industry (SSI) and online MSME certificate is termed as UdyogAadhar or LaghuUdyog. Under the online SSI registration, the enterprise entities have classified into various categories as micro/small/medium depending on their investment in a manufacturing business or in a service sector.

Benefit of MSME Registration

Provide loans at a lower rate of interest.
Enable you to avail the benefits of the government schemes
In the initial years of the commencement of the business, an MSME certificate provides you tax benefits concerning central excise and direct taxes.
Provides Industrial Promotion Rate subsidy eligibility.
Lessen the cost of trademark and patent registration. Avail the benefit in case of sales tax and other subsidies provided by the government.

Documents Required For MSME Registration

Proprietary Firm

Address proof of the company
Certificate of shops and establishments

Private limited company or OPC

PAN of company.
Address of company.
Certificate of a corporation.
Memorandum of Association (MoA) and Article of Association (AOA)

LLP or Partnership Firm

PAN of company
Address proof of company
Partnership deed and LLP agreement

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