SERVICES

The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under:

• Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below:
  • A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh;
  • A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore;
  • A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore. In case of the above enterprises, investment in plant and machinery is the original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification.
• Enterprises engaged in providing or rendering of services and whose investment in equipment (original cost excluding land and building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006) is specified below.
• A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh;
• A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore;
• A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore.

Benefits of MSME Registration

• Government offers tax benefits after enterprise gets MSME registration.
• It makes it easier for enterprises to get bank loans.
• Discount on Trademark and Patent fees.
• Enterprises can apply for government loans easily.

What is MSME Registration?

MSME registration is a type of registration for Micro, Small and Medium Enterprises under MSMED (Micro, Small and Medium Enterprises Development) Act. This helps small businesses to grow and acquire various benefits from the government.

What information is required for MSME Registration?

The documents required for MSME registration are mentioned below:

Aadhar Number
Owners name
Name of the Enterprise
Type of organization
PAN number
Official address
Date of commencement
Bank details
Personal details

What is an MSME loan?

MSME loan is a type of loan which is provided to Micro , Small and Medium enterprises.

Can a sole proprietorship firm apply for MSME registration?

Yes, a sole proprietorship firm can apply for MSME registration.

Why is MSME registration required?

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.

How much time does it take to complete MSME registration?

The process of MSME registration is completed by Sabkuch Legal in shortest possible time.