How to register MSME?
Before proceeding with MSME registration in easy steps you need to know about what MSME is?
MSME Registration in India
The Micro, Small and Medium Enterprises (MSME) sector is a very important legacy economic model and a part of the critical supply chain for products and services throughout the country.
What does MSME Registration mean?
The Micro, Small and Medium-sized Enterprises Development Act allows MSMEs in the manufacturing and service providing sectors to register as MSMEs or SSIs. It is not compulsory to register as an MSME. But, you must still register as it provides various benefits under this project such as tax benefits and protection against non-payment.
Importance of MSME Structure in a few words?
- It creates a huge large scale employment
- Provides Cheap Labour
- Provides Economic Stability
- Simple Structure of MSME
Who can register for MSME?
Only producers, service providers & manufacturers, must use the MSME tag and register under it. Any producers, service providers & manufacturers who meet the eligibility requirements may use the MSMEs in a single-window registration system to register. The eligibility requirements are effective from July 1, 2020, are applicable for the three types of Enterprises. That are as below
- A Micro Enterprises with Investment up to Rs 1 crore and turnover up to Rs 5 crore,
- But for Small Enterprises with Investment up to Rs 10 crore and turnover up to Rs 50 crore,
- Medium Enterprises with investment up to Rs 50 crore and turnover up to Rs 250 crore.
Who can Get a Licence?
Any form of business entity may obtain Micro, Small & Medium Enterprises (MSME) registration or Udyog Aadhaar registration. Hindu Undivided Families, Co-operative Societies, Trust Others., Self-Help Groups Societies,
Registration of MSME is compulsory?
Registration of MSME under the MSMED Act is not compulsory for MSMEs and Small Scale Industries (SSIs). But, it is always better to register Since registration has its own benefits. The procedure for registering is completely online and is very simple. You require your Aadhaar number, bank account, PAN details. and entity’s name on which you want to register After you fill in your details on the portal, a reference number gets generated and you receive your certificate after verification of details.
How Much Time does MSME registration take?
If you have done it correctly and completed the MSME verification process then it will take 2-3 days You can contact Advocate Vishal Saini (+91-9991188899) regarding the same. He will help you to register MSME in Haryana