SSI/MSME Registration

Small Scale Industries (SSI) and Micro Small and Medium Enterprises (MSME) are defined in terms of their investment sizes. These are registered to avail benefits such as capital investment subsidies, priority sector lending, and power tariff subsidies.

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How to do SSI/MSME Registration?

SSI/MSME registration requires vital documents like Aadhaar Number, Business PAN Number, address proof,owner’s name, applicant’s category, organization name & type, bank account details, business commencement date & address,and NIC Code of enterprise, etc. Vakilsearch offers you the best guidance and is with you at every stage of the registration process.

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We address all your queries about SSI/MSME registration.

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We help you get the entire process of registration completed.

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We help you with the post-registration formalities and compliances.

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Facts about Registration of MSME/SSI

SSI stands for Small Scale Industries and MSME for Micro, Small and Medium Enterprise. SSI or MSME enterprises are the basis of any economy and are one of the reasons for economic growth, advancing independent improvement for all. Though getting the SSI/ MSME online registration is not compulsory it is always recommended that small and medium enterprises get it done as it provides a wide range of benefits. Through MSME registration business owners can avail the benefits such as rate of interest which would be charged very less, capital investment subsidies, priority sector lending, power tariff subsidies, tax subsidies and much other support from the government sector can be taken.

The small and medium enterprises which fall under SSI/MSME category are the pillar of the economic sector, which helps the economic growth and promote equitable development. Therefore, to promote and support MSMEs, the Indian government through numerous subsidies, incentives and schemes promote SSI/MSMEs through the MSME Act.

All the manufacturing enterprises which have the investment of less than Rs.10 crores in the plant and machinery are allowed to be registered under MSME. When it comes to service enterprises, the investment in machinery and plant should not exceed more than Rs.5 crores. And in the near future, if the enterprise exceeds the prescribed limit, then it will not come under MSME.

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Different types of SSIs or MSMEs

Micro-enterprises

Micro-enterprises are the smallest entities, in general. The investment under the Micro manufacturing enterprises should not exceed more than Rs.25 lakhs in machinery and plant, whereas, the microservice enterprises’ investment should be less than Rs.10 lakhs.

Small enterprises

In the small manufacturing enterprises, the investment should range in between Rs.25 lakh and Rs.5 crores in machinery and plant, while in the small service enterprises the investment should range in between Rs.10 lakh and Rs.2 crores.

Medium enterprises

When it comes to the medium manufacturing enterprises, then the investment should range in between Rs.5 crore and Rs.10 crores in machinery and plant, and for small service enterprises, the investment should range in between Rs.2 crore and Rs.5 crores.

Advantages of SSI/MSME registration

The advantages that an Udhyog Aadhaar registration offers are:

Low-priced bank loans

The interest rates on the loan offered to MSMEs is 1-1.5% lower compared to the other typical business loan interest.

Easy access to credit

Mudhra Loan scheme is also introduced by the Indian government which provides loans to SSI/MSMEs without sureties.

Approvals from government organizations

The businesses which are registered under the SSI/MSMEs are given the first preference in terms of government license and certification.

Tax refunds

SSI/MSME registered businesses can take the benefit of numerous income taxes and capital gains tax subsidies from the government.

Cheaper infrastructure

Charges are less for an SSI/MSME registered company for the amenities such as electricity and VAT exemptions. And also, other business amenities such as patents are also cheaper for SSI/MSMEs.

Access to tenders

There are different government tenders which are particularly open only to SSI/MSMEs to promote the small business contribution in India.

Documents required for MSME/SSI registration in India

  • A copy of the applicant’s Aadhaar card
  • Business PAN card
  • Proof of business address - a copy of utility bill or rent deed
  • Category of the applicant - whether General, OBC, SC/ST
  • Business owner’s name
  • Company name
  • Details of the business bank account
  • Operations of the organization
  • Date of establishment of the company
  • Employee count
  • Availing the help of a professional service provider for registering the MSME proves beneficial with respect to all the legal requirements.
  • Find Out More About The MSME/SSI registration Process.

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