The Micro, small and medium enterprises is the meaning of MSME. The enterprises who are engaged in the activities of manufacturing, production, processing or the preservation of goods and having the limited amount of investment in plant and machinery and the equipment’s are categorized as the micro, small and medium enterprises. In order to motivate all the MSME in India the government of India has introduced various schemes and incentives for all the business units registered as MSME. MSME is considered as one of the strongest pillars of the economic growth of many of the developing and the developed countries. Currently the MSME’s are generating the employment for over 50 million people and contributing the 8% to the gross domestic product. In the country filled with hundreds of startups blooming every day the concept of LLP holds a great important. In this blog we will be taking a look at the process of MSME registration along with its benefits.
Keeping in mind the contribution made by the MSME sector the government of India offers number of benefits to the business units registered MSME. Some of the benefits of MSME registration in India include the following-
- Through the multiple policies like reserving the production of certain products only by this sector and reserving them to be produced by these companies only.
- The fee for registration of intellectual property rights of MSME is less than the fee of companies. This is because for the IPR registrations the MSME are considered as the individuals and the fee is charged accordingly.
- There are certain products that are purchased by the government from the business registered under the MSME scheme only.
- Also the government of states provide for the specialized industrial estates, tax subsidies, power tariff subsidies, capital investment subsidies and other support.
These are just some of the benefits of MSME that the business units can enjoy simply by making an application and paying the nominal amount of fee.
Now as we all know the multiple benefits of MSME now it is of utmost importance to take a look at the procedure of obtaining the MSME registration. Below we will be discussing the documents required and the procedure of obtaining the MSME registration. One thing that is most important in order to get the MSME registered in India is to collect the required documents. Here is the list of documents required for the MSME registration in India –
- Business address proof
- Copies of Sales bill or purchase Bill
- Partnership Deed or MoA and AoA
- Bills of machinery
- Copies of licenses
Procedure of MSME Registration
In order to begin the process the MSME registration the applicant is required to fill a basic details form through online or offline mode.
Once the forms is opened the applicant can fill in the required details like the Aadhar number, Industry name, Address, bank account details and some common information. The documents required to be self-certified. Even if you have different activities you are just required to file the single form.
Once the detail-filled and uploaded properly you will be getting the registration number.