MSME Registration
Rs.1,990.00
MSME stands for micro, small and medium enterprises. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all.
MSME stands for micro, small and medium enterprises. 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 preference in getting payments from customers, eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies, and other support. TaxFino can help your business obtain MSME Registration to avail yourself of a host of benefits.
- Micro Enterprises
- A Micro Enterprise in Manufacturing & Services sector is an enterprise with less than Rs.1 crore of investment in Plant & Machinery or Equipment and Annual Turnover less than Rs.5 crore.
Small Enterprise
- A Small Enterprise in Manufacturing & Services sector is an enterprise with less than Rs.10 crore of investment in Plant & Machinery or Equipment and Annual Turnover less than Rs.50 crore.
Medium Enterprise
- A Medium Enterprise in Manufacturing & Services sector is an enterprise with less than Rs.20 crore of investment in Plant & Machinery or Equipment and Annual Turnover less than Rs.100 crore.
Benefits
Easy sanction of bank loans (Priority sector lending)
Lower rates of interest
Priority for payment and the interest on delayed payments from customers
Lower fee for Trademark registration
Other government benefits like tax subsidies, power tariff subsidies, capital investment subsidies and other support.
Eligibility
- Classification
- Manufacturing & Services
Micro
- Investment < Rs.1 crore and Turnover < Rs.5 crore
Small
- Investment < Rs.10 crore and Turnover < Rs.50 crore
Medium
- Investment < Rs.20 crore and Turnover < Rs.100 crore
Documents
Nature of Business of the Company (1-2 liner)
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