As a small enterprise, you can have access to priority sector lending, tax exemptions & capital investment and power tariff subsidies.
We do a thorough check of the files you send in
We will appoint an affiliate to process your application
The certificate will be issued within 15 days of the application
An SSI also called Small Scale Industry Registration is a registration from the Ministry of Micro, Small and Medium Enterprises. When a business registers as SSI it becomes eligible to avail government schemes and subsidies that are exclusive for small businesses.
Vakilsearch offers expert service for MSME registration:
MSME registration can be done by enterprises of sizes:
Under the MSMED Act, these small businesses get varying incentives such as:
Registering for MSME is an entire online process but seeking the help of professionals makes it more easy. Vakilsearch assists you with the online application and gets the required approval from the department.
Small scale industries play a vital role in the socio-economic development of India. To promote and encourage these small-scale industries, the government of the country created the MSMED Act. The Act was created to maintain a list of all the industries registered as MSME or SSI. The record aided in providing support and incentives to these firms. Furthermore, SSI helped in employment of people at little capital investments. All these entities should possess certificate of MSME registration, which should be registered with the Central Government’s MSME department under the Act of MSME Development- 2006.
The MSMED Act includes:
To avail the numerous benefits from the Government of India, an SSI registration certificate is needed. It is an optional registration but the companies that get registered are eligible for:
In order to make the process of registering a small or medium level enterprise easy, the government introduced Udyog Aadhaar. Earlier, MSMEs have to undergo tedious, bureaucratic process with lots of paper works for registering their business. But now businesses can register under Udyog Aadhaar using their Aadhaar card as the sole legal document and their National Industrial Classification Code (NIC). The government requires NIC for classification of businesses based on their operations. There is no registration fee applicable for Udyog Aadhaar registration.
Following are the MSME schemes offered by the government Udyog Aadhaar.
Udyog Aadhaar Memorandum (UAM) was introduced under the MSMED Act, 2006 to promote the ease of doing business for MSMEs. A simple one-page form is filed and the registration is user-friendly and easy. No documentation is required, except the 12-digit Aadhaar card number. Businesses also have a provision to file more than one Udyog Aadhaar with the same Aadhaar number. UAM can be filed on a self-declaration basis.
ZED scheme encourages manufacturers to manufacture goods for export that are of highest quality. If the standards are met and goods are exported, the exporters will be eligible for rebates and concessions. If they are not exporterd, the goods will be rejected and returned to India.
This scheme is aimed at helping micro, small and medium entreprises produce quality products at competitive prices by adopting the tools. Through the tools, businesses will be able to optimize the resource, improve quality, reduce rejection and rework.
Under this scheme, businesses will be sensitized about the tools through activities like workshops, campaigns and seminars.
Under this scheme, the complaints and issues of the businesses will be addressed. The business owners can also track the status of their complaint and open it again it they are dissatisfied with the outcomes.
In the banking sector, if you need to avail the benefits of the MSMED Act of 2006, you will have to opt for MSME registration.
When you register your firm with Udyog Aadhaar , the business can leverage many schemes initiated by State and Central Government. In addition to this, for availing the MSMED Act 2006 benefits in the banking sector, MSME registration becomes mandatory.
Some of the advantages of an MSME are:
The first stage of MSME registration is provisional which is given during the period before the establishment of the entity or the pre-investment period of the firm. At this point, the enterprise qualifies for:
The Provisional SSI Registration Certificate (PRC) enables small units to obtain term loans, and working capital from financial institutions and banks under priority sector lending.
The second type of MSME registration is permanent. It is given to industrial units that are already functioning. Though the Act is not mandatory, it is immensely beneficial for firms to have the support of government.
A PRC ( Provisional Registration Certificate) is allotted to new enterprises without any field enquiry. It is purely an application-based form. Therefore, it has to be applied in the precise prescribed form before operations begin in the unit. Once the application is submitted, the provisional registration will be provided without a physical inspection of the unit. The procedure is quick so that newly established firms can avail multiple benefits, quick loans and other necessary approvals.
The provisional certificate is valid for a period of five years and the enterprise has to become operational within it. If the business fails to commence work under five years, a new application must be submitted.
If the entrepreneur successfully begins operations within five years, they can apply for a permanent certification. The registration is done at the Ministry of MSMEs. The permanent SSI registration is granted only if the specific conditions are met and mandatory documents are submitted.
The unit has obtained statutory and administrative clearances as required.
At Vakilsearch, we are committed to helping you overcome every any obstacle that may arise in MSME registration for your enterprise.
The eligibility for the scheme of MSME or SSI registration is dependent on the scale of business of the enterprise. Udyog Aadhaar registration is applicable for Proprietorship, Hindu Undivided Family(HUF), one-person company(OPC), Partnership Firm, public limited company, private limited company, production company, co-operative societies, limited liability partnership(LLP) or any association of persons or any other undertaking.
A manufacturing enterprise should have investment of less than Rs. 25 lakhs in plant and machinery. A service enterprise should have less than Rs. 10 lakhs invested. These micro enterprises are the smallest entities.
For manufacturing enterprises, the investment has to be between Rs. 25 lakhs and Rs. 5 crores in plant and machinery. For service enterprises, the range is between Rs. 10 lakhs and Rs. 2 crores.
If it is a manufacturing enterprise, the investment in plant and machinery has to be between Rs. 5 crore and Rs. 10 crores. If it is a service enterprise, the range is from Rs. 2 crores to Rs. 5 crores.
In 10 – 20 days time Vakilsearch obtains your MSME registration (without factoring in Government approval time).
Following are the documents to be submitted with us:
The submitted documents are filed along with the application. In some states, additional paperwork might be needed such as sale bills of machinery and municipal clearance.
If production has not begun, a provisional certificate is issued for 5 years. It becomes permanent when the unit is functioning.
|Small Scale Industry||Shops & Establishments Act||Professional Tax Registration|
Who It's For
|Micro, small, medium enterprises||All businesses||All employers|
When You Need It
|For subsidies and tax breaks||Within 30 days of operations||Within 30 days of operations|
Returns to be Filed
|Ministry of Micro Small and Medium Enterprises||Municipal Corporation||State Government||Know More »||Know More »|