msme/ssi-registration

MSME REGISTRATION

MSME stands for Micro, Small and Medium Enterprises. SSI stands for Small Scale Industries. MSME and SSI have been getting a major push from the government. Such industries have grown to become one of the most important pillars of India’s economic front. They create several jobs every year. Moreover, it also uplifts the rural areas and small towns of the country. Though it is not mandatory to get you SSI Registration. But we recommend doing so as you can avail several benefits and subsidies. easeURbusiness offers complete help on MSME Registration in India.

WHAT IS MSME/SSI REGISTRATION

 MSME Registration practically includes three types of enterprises-, micro, small, and, medium. Moreover this depends upon the total investment and the type of business. The table below shows it in detail.

 
 

Investment in Plant/Machinery/Equipment

Type of Business

Firstly-Micro

Secondly-Small

Thirdly-Medium

Manufacturing

Below 25 Lakhs

25 Lakh to 5 Crore

5 Crore to 10 Crore

Service

Below 10 Lakhs

10 Lakh to 2 Crore

2 Crore to 5 Crore

SMALL SCALE INDUSTRIES (SSI)

 A business that manufactures products or creates services with the help of only a few workers. The investment limit for a business classified as SSI shown in the table below:

Manufacturing Business

25 Lakh to 5 Crore

Service Industries

10 Lakh to 2 Crore

WHAT ARE THE BENEFITS OF MSME/SSI REGISTRATION

The main benefit of getting your SSI Registration is that you will have proper paperwork in place. This makes a lot of formalities smooth and hassle-free. Therefore some of the benefits listed below:

Easy Access to Loans in MSME/SSI Registration

The government has made it easier for the small scale industries and MSMEs to avail credit from banks. Mudra Loan is one of the most popular schemes. To get benefits from such schemes, registration is important.

Lower Rates of Interest in MSME/SSI Registration

If you go for a business loan, the rate of interest would be higher as compared to the rates offered to MSMEs and SSIs. There can be 1 to 2% difference in the rates offered by banks. But to avail loans at such preferential rates, proper registration and paperwork is important.

Faster Approvals in MSME/SSI Registration

To run a business, even if it is MSME or SSI, your will need different kinds of approvals. Once your MSME/SSI register, getting licenses and certifications from the government bodies will be quicker.

Easy to Get Tenders in MSME/SSI Registration

There are several government tenders specifically meant for MSME or SSI. When your business gets register, access to such tenders is easier.

Tax Benefits in MSME/SSI Registration

MSME or SSI are allowed tax rebates and subsidies and you can avail these only when the proper registration is completed.

Other Benefits in MSME/SSI Registration

Building the infrastructure of your MSME or SSI business is easier. This becomes easier due to several rebates such as preferential fees for patent registration, licenses, etc. All this will become easier with registration.

PROCEDURE OF MSME/SSI REGISTRATION

You can get your MSME/SSI Registration through online and offline modes. First, you will need to get the Provisional Registration Certificate (PRC). Remember it is allotted to the new applicants. The criteria for getting PRC based only on the form and without any field inquiry. You can get this, even before the business operations have started. This is because to make the commencement of SSI Registration easier. The PRC is valid only for 5 years after which a permanent registration is important.

To get permanent registration, you again need to fill the detailed form. And submit it along with all the required documents. You must make sure that your business does not exceed the investment limit. Also, your business does not violate any regulations.

The process of Registration can be very confusing for a layman. easeURbusiness offers expert help to get your Registration. You can also get consultancy, data verification, etc. from the seasoned experts.

DOCUMENTS REQUIRED FOR MSME/SSI REGISTRATION

Proof of Address of the business

Copy of bills of machinery/equipment purchased

Sales Bill Copy

Copies of Purchase Bill

Partnership Deed/Memorandum of Association/Article of Association

NOC as required (such as the Pollution Board)

Duly filled Application Form

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