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MSME Registration

Micro Small Medium Enterprises plays a hug role in Indian economy as a part of supply chain, retailer, small scale professional, manufacturing units etc. These sectors are play a crucial role in providing large number of employments.

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    About MSME Registration

    A few years ago the MSME registration were issued by every District Industries Centre in every district by particular state government in PART-I and PART-II, there after the MSME registration start online as “UDHYOG AADHAR” and at present the MSME registrations are issues as “Udhyam Registration Certificate” by government of India through national portal.

    Due to complicity in filing and application form it should be apply by professional to choose right business activity code and other things. LegalMan have a team of professionals to apply and get the MSME registration certificate.

    Who can apply ?

    MSME/ SSI registration is not mandatory, but it is suggested to enjoy various benefits for micro small and medium enterprises pertaining with MSME registration.

    To enjoy these benefits the maximum units gets MSME registration, the constitution of entity is doesn’t matter, it can be apply by every kind of business even if it may be Proprietorship, partnership, LLP, Company   

    Benefits for MSME units

    Easy to open new current bank account in the name of firm.

    Easy and concessional bank loan.

    Reservation in government tenders

    Generally government tenders have reservation around 20% of total tender values for MSME units and prefer them to participate and allot these tenders.

    Helps to get timely payment from buyers

    As per the Micro Small Medium Enterprises Development Act, 2006 every buyer are responsible to pay the dues of a MSME supplier within the prescribe time as per issued work order or 45 days from the date of supply which ever is earlier.

    Waiver of EMD/ Security in tenders

    In various govt. And Public Sector Units (PSU) Tenders there are heavy EMD/ Security deposit required to participate in tender but the government and PSU make relaxation for MSME units.

    Benefits in various govt. Fees

    Govt. Fee for ISO/ Patent / Trade Mark is minimize or waive off for MSME units.

    Classifications of MSME units

    MSME units are classified in three category on base of investment i.e. Micro, Small and Medium which are as below

    Micro
    Micro
    The business falls in this category when it’s investment in plant & machinery is less than 1 Crore and firm turnover does not exceed Rs. 5 crore, then it will be Micro enterprises as per the MSME Development Act, 2006.
    Micro
    Small
    Small
    The business falls in this category when it’s investment in plant & machinery is less than 10 Crore and firm turnover does not exceed Rs. 50 crore, then it will be Small enterprises as per the MSME Development Act, 2006.
    Small
    Medium
    Medium
    The business falls in this category when it’s investment in plant & machinery is less than 50 Crore and firm turnover does not exceed Rs. 250 crore, then it will be Medium enterprises as per the MSME Development Act, 2006.
    Medium

    DOCUMENT REQUIRED FOR MSME REGISTRATION

    Contact Legal Man Expert Team !