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Udyam (MSME) Registration

Ideal for experts and software companies
(Takes 2-5 days)

MSME Registration

Name(Required)

Procedure For MSME/SSI Registration

Step 1
Complete our MSME Form/SSI Form

You just need to fill our simple msme registration form which would ask about your basic information. In the case of SSI registration, and SSI

Step 2
Preparation of Documents


We will draught your papers in accordance with the information you supply.

 

Step 3
Filling MSME/SSI Application


Moving forward, we will submit your application and the necessary paperwork to the MSME registrar. Our expert will properly check your documents before submission.

 

Step 4
Your work is now completed


We will provide your MSME certificate/SSI certificate to you through email and courier as soon as the SSI/MSME application is approved and issued.

 

MSME/SSI Registration

The Micro, Small, and Medium Enterprises are regarded as an essential component of the crucial supply chain for goods and services as well as a very important aspect of India's historic economic model. This industry is responsible for creating jobs and is essential to the development of rural and underdeveloped areas by offering widespread employment. According to the National Sample Survey (NSS) 73rd round, there were around 633.8 lakh unincorporated non-agriculture enterprises in the nation in 2015–2016. These businesses engage in a variety of economic activities and employ 11.10 crore people.
Although MSME online registration is not required, it is always advised that small and medium-sized businesses complete it because it offers a number of advantages. Benefits including very low lending rates, tax breaks, money for capital investments, and a lot more assistance from the government sector.
Your company can benefit from a variety of advantages by registering as an MSME online with Legalraahi. In Delhi NCR, Mumbai, Bengaluru, Chennai, and all other Indian cities, LegalRaasta offers online registration for SSI and MSME. MSME was introduced in India in 2006. Actually, this Act underwent a historic modification when the definition of the Micro, Small and Medium-sized Enterprises (MSME) covered various service sectors that were not yet included in this sector. Utilizing the sector's potential, the government has thus made it easier for MSME Registration to be completed online and without paper.
Priority sector funding, power tariff subsidies, capital investment subsidies, and excise and direct tax exemptions are all advantages of MSME registration. The MSME Act's eligibility requirements must be met in order to qualify.

  • All manufacturing businesses are eligible to register as MSMEs if they have made equipment and plant investments totaling less than 10 crores.
  • Plant and equipment investments in service businesses shouldn't exceed Rs. 5 crore.
  • Additionally, in the near future, if your business reaches the maximum amount, it will no longer qualify as an MSME.

What is Included In Our Package?

Application Preparation

Document submission to MSME registrar

Obtain MSME certificate

What Are The Different Types of MSMEs?

There are 3 types of MSME or SSIs which can be classified as under:

Micro Enterprises

Of course, micro-enterprises are the smallest types of businesses. Microservice businesses should invest no more than Rs. 10 lakhs, whereas micromanufacturing businesses should invest no more than Rs. 25 lakhs in equipment and plant.

Small Enterprises

Small manufacturing companies should invest between Rs. 25 lakh and Rs. 5 crores in equipment, whereas small service companies can only invest between Rs. 10 lakh and Rs. 2 crores.

Medium Enterprises

For small service businesses, the investment should be between Rs. 2 crore and Rs. 5 crore, and if we're talking about medium manufacturing enterprises, it should be between Rs. 5 crore and Rs. 10 crore in plant and machinery.

Benefits of MSME / SSI Registration

There are multiple benefits of MSME / SSI registration for small businesses:

  • Bank loans are more affordable: The interest rate on loans granted to MSMEs is 1–1.5% lower than the interest rate on a conventional company loan.
  • Credit is easily accessible because to PM Modi's introduction of the Mudhra Loan scheme, which offers loans to SSI and MSME without the need for collateral.
  • Quicker state and federal government approvals: Companies classified as MSMEs are given priority when applying for government licences and certifications.
  • Tax breaks: The government offers capital gains tax exemptions and several income tax rebates to MSME/SSI registered enterprises.
  • Cheaper infrastructure: MSME-registered businesses pay less for services like energy and VAT exemptions. In reality, MSMEs can also save money on other business services like patents.
  • Access to tenders: To encourage small company engagement in India, there are numerous government tenders that are only open to MSMEs.

Frequently Asked Questions

How do you register as an MSME?

Even though it is not required, it is always advisable to register your business as an MSME because it offers many benefits to those who do so and will spare you from a lot of hassles down the road. Once you have been given a Provisional MSME Certificate, you can start producing and even apply for a Permanent Certificate which will add more benefits for you.

Is SSI/MSME Registration optional or required?

Registration for SSI/MSME is optional, as was already stated. Entrepreneurs and businessmen typically do this to take advantage of the benefits it offers. The registration procedure is really straightforward and easy. Many firms choose it over other registrations since it is simple to obtain (assuming you have a manufacturing plant or a commercial area where you perform services).

Why should I apply before I start my business?

Obtaining a Provisional SSI Registration Certificate (PRC) is advised before beginning business operations. Your dealings with the PRC will go smoothly, and it will assist you in obtaining certain NOCs and approvals from regulatory organisations.

What records are needed to submit the application?

You can easily apply for PRC without an industrial licence if your company or enterprise is included in Schedule-III of the Industrial Licencing Exemption Notification. An industrial licence must first be obtained by other entities. The business needs to get all permissions, whether they are statutory or administrative. For instance, if necessary, a drug licence under the drug control order. The application form is used to issue the PRC. No field research is done.

How long is the validity of an MSME Provisional Registration Certificate (PRC)?

A PRC is valid for five years, after which time you can reapply if the unit is still not operating. You can easily apply for the Permanent Licence as soon as you begin your operations.

How might SSI/MSME assist me in obtaining a bank loan?

MSMEs are accepted by all organisations and financial institutions. To recognise them as well, unique schemes have been developed. Banks favour lending to MSMEs over conventional businesses. For MSME, the likelihood of receiving a loan approval is substantially higher. Additionally, bank loan interest rates will decrease. In the event of a repayment delay, special treatment might also be offered.

What advantages do the state and federal governments provide for MSME?

Businesses that are registered under the MSMED Act are preferred by many state governments. State governments provide subsidies on a variety of things, including power, taxes, and more. The majority of states offer purchasing incentives on produced goods in lieu of sales tax exemption. In the early years of your firm, the enterprise may also benefit from the excise exemption plan and the exemption from some direct taxes.

How are plant and machinery values determined for SSI registration?

According to the MSME announcement, only the original value is to be taken into account when calculating the value of plant and machinery.

What kind of assistance is offered for borrowing without a down payment?

The Ministry of MSME, the Government of India, and SIDBI have established specific trusts, such as the Credit Guarantee Fund Trust, to ensure that credit will continue to flow to the MSE sector without interruption from outside parties. The plan is supported by the idea that the lender should prioritise project viability and secure the credit facility only using the financed assets as the principal security. By expanding banking services to recognised MSE clusters, a cluster-based strategy to lending can provide a full-service approach to cater to the different demands of the MSE sector. Therefore, it has been suggested to the banks that they approach it as a thrust sector and progressively use the same for SME lending. Banks are constantly urged to take the necessary actions to ensure that credit is easily distributed to the recognised groups of micro and small business owners from minority communities who live in the majority-minority areas of the nation. Credit facilities up to Rs. 100 lakh that have been granted by lending institutions without any type of collateral security would be covered by the CGTMSE. The CGTMSE charges a small annual fee to use the guarantee cover.

Why is a credit rating required and what does it mean?

Credit rating is an estimate to figure out the capability of an enterprise to meet all the financial needs based on the previous year's dealings. Although credit rating is not compulsive it is in the interest of the MSE borrowers to get their credit rating done as it would help in credit pricing of the loans taken by them from banks.
11. In which cities does LegalRaasta provide MSME registration?

In which cities does Sahyog provide MSME registration?

Sahyog offers MSME application services in all Indian cities, having registered MSME's in Mumbai, Pune, Amravati, and Akola.

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