In India if you are someone willing to start a small business then you may consider the MSME Business. These are the micro, small, and medium enterprises. This sort of businesses contributes to the Indian economy and is one of the basic businesses that comes with lots of benefits as the government itself supports and promotes it. The promotion of these micro, small, and medium enterprises is done by the government through various kinds of subsidiaries and schemes and some incentives.
Coming to the question of how would you get those benefits? And the answer to that is by getting an MSME Registration done under the MSMED act from the central government and the state government and the other banking sectors to avail all the benefits that government is willing to give you to promote your kind of industries in the market.
The micro, small, and medium enterprises belong to both the manufacturing process and the services sector. Both the categories can get MSME Registration under the MSMED act. Even though the MSME Registration is not statutory but it’s rather beneficial to get an MSME Registration done for the sake of being eligible for receiving the benefits by the government. These benefits are like the eligibility for lower rates of interests from banks, tax subsidies and excise exemption schemes.
We will now move on to the MSME Registration procedure in India. And in case, you find the whole process bit overwhelming or too much to handle, no need to stress out. There are professional people out there just to do this for you. You can simply search for them online and contact these agencies that you pay for packages and they do literally everything and hand you the certificate.
Why Do We Require MSME Registration?
MSME Registration, to be honest, is absolutely optional. It’s just under the MSMED act the government has put some benefits and the MSME Registration should be done just for the sake of availing benefits from the government. Besides benefits were solely thought of promoting more and more small-scale industries so might as well take it.
What Are The MSME Registration Categories?
Micro-sized MSME enterprise is the smallest of all. In the manufacturing sector, a micro-sized enterprise must have an investment that does not exceed the amount of Rs 25 lakhs. While if it’s an MSME micro-sized service sector then the business must have an investment not exceeding the amount of Rs 10 lakhs.
This category of small enterprise is mostly manufacturing sector. The capital investment in this category should be at least amount of Rs 25 lakhs but not exceeding Rs 5 crores in the plant and its machineries. But a small enterprise that is in the service sector must have at least an investment of Rs10 lakhs but should not exceed Rs 2 crore.
A medium-sized enterprise under the MSME medium category, the manufacturing sector individual must have an investment that is more than the amount of Rs 5 crore but does not exceed the amount of Rs 10 crore in their plant and machinery. The medium-sized enterprise in the service sector must have an investment of the amount of at least Rs 2 crore and must not exceed the amount of Rs 5 crores.
So if you have any plans to apply for MSME/SSI Registration online then you are at right platform we can help you in perfect guidance all the way until you get your registration done in an exact and precise way. We at Swarit Advisors are the best who are renowned for giving perfect expert consultation for legal processes.
