Msme Registration In India

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MSME registration is a government initiative in India aimed at promoting and supporting small and medium-sized enterprises. The registration process helps businesses avail various benefits and schemes provided by the government for their growth and development.

Benefits of MSME Registration:

1.Financial Assistance: Registered MSMEs are eligible for various financial incentives, subsidies, and loans at lower interest rates through government schemes.

2.Priority Lending: Banks are required to lend a certain percentage of their total loans to MSMEs, ensuring better access to credit.

3.Subsidies for Technology Upgradation: MSMEs can get subsidies for implementing technology and upgrading their infrastructure.

4.Protection Against Delayed Payments: The Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006, provides protection against delayed payments from buyers.

5.Preference in Government Tenders: MSMEs get preference in government procurement, which can lead to more business opportunities.

6.Access to Credit Linked Capital Subsidy Scheme: This scheme helps MSMEs upgrade their technology by offering a 15% capital subsidy.

4.Obligations of the Receiving Party: Outline the responsibilities of the receiving party, such as not disclosing, using, or copying the confidential information for unauthorized purposes.

5.Permitted Disclosures: Specify any exceptions or circumstances under which the receiving party is allowed to disclose the confidential information (e.g., to employees with a need to know).

6.Access to Credit Linked Capital Subsidy Scheme: This scheme helps MSMEs upgrade their technology by offering a 15% capital subsidy.

7.Reduced Fee for Trademark and Patent Registration: MSMEs receive a 50% reduction in the cost of trademark and patent registration.

8.Market Development Assistance: Financial support for participating in international trade fairs and exhibitions..

9.Eligibility Criteria for MSME Registration: Businesses are categorized as micro, small, or medium enterprises based on their investment in plant and machinery or equipment and annual turnover. As of September 2021, the following criteria apply: Micro Enterprises: *Investment in plant and machinery or equipment: Up to Rs. 1 crore. *Annual turnover: Up to Rs. 5 crore.

Small Enterprises: *Investment in plant and machinery or equipment: Up to Rs. 10 crore. *Annual turnover: Up to Rs. 50 crore. Medium Enterprises: *Investment in plant and machinery or equipment: Up to Rs. 50 crore. *Annual turnover: Up to Rs. 250 crore.

Guidelines for MSME Registration:
  • 1.Businesses can apply for MSME registration online through the Udyam Registration portal.
  • 2.Provide accurate information about your business, including the Aadhaar number of the owner/promoter.
  • 3.After successful registration, an Udyam Registration Number (URN) is generated, which serves as your MSME certificate.
  • 4.Ensure that all details are up-to-date and accurate to continue availing benefits.

Timeline (Approximate)

  • 1.Application Submission (1-2 days): You can apply for MSME registration online through the Udyam Registration portal. The application process is typically quick and can be completed within a day or two.
  • 2.Processing and Approval (1-2 days): After submitting the application, it goes through a verification process. In many cases, the approval is granted within 1-2 days.
  • 3.Receipt of MSME Certificate (Instant): Once your application is approved, you should receive your MSME Registration certificate instantly in electronic format..

    • Please note that these timelines are approximate and can vary depending on the specific circumstances and processing speed of the authorities at the time of application.

How We Work?

  • 1. Fill out the form, scan the document, and upload it to the Pralekh app.
  • 2. Receive a call from one of our experts.
  • 3. Please upload all required documentation.