What is MSME registration & what Is the Procedure to Apply?

1. What is MSME registration & what Is the Procedure to Apply? The Indian government via different subsidies, incentives or schemes are promoting MSMEs by MSMED act. It has its own benefits, but to avail those benefits under the MSMED act from the state government or central government and the banking sector, MSME Registration is required. MSME stands for “micro, small, medium enterprises”. MSME in both, manufacturing or service sector are eligible for MSME Registration. Though MSME Registration is statutory, but it’s beneficial for the business as it would provide them a range of benefits such as eligibility for the low rate of interests, excise duty, subsidies in taxation, capital investments subsidies and similar other supportive benefits.

2. The MSME Registration is a two step process. 1. The part one – The Registration before setup of unit. • The MSME registration certificate will enable the applicant or any business entity to obtain some privileges during pre-operative time period such as:- • It will help obtaining the term loans and capital for working from the financial institutions or even the banks that are under the prior sector lending. • It shall help in obtaining the facilities to accommodate land and other kinds of approvals etc. • It will also help with obtaining many different types of consents and clearances from the regulation controlling bodies like control board of pollution, control board of drugs and so on etc. • The MSME Registration certificate is supposed to be issued for maximum of the time period of “two years” from its date of issue. This certificate shall only stay valid till the date of commencement of production of the intended goods or for a period of two years from the date of issuing or whichever shall come earlier.

3. 2. The part two – MSME Registration after the commencement of the production. • This MSME Registration primarily enables the applicant or business entity for obtaining some kind of privileges during the post operative time period such as the concessions that in power tariff or so, this MSME Registration certificate is not a mandatory thing to have and it can also be applied once your unit has started for the production of what you’re business is intended to produce. • This MSME Registration has to be obtained either under the categories of part one or under the categories of part two.

4. We at SwaritAdvisors helps peoples to know about how can they benefit themselves and in case if they are having trouble in applying SSI Registration then they can freely contact us on our helpline number or may drop us an email for further queries. We are constantly available for them 24*7 hr. Our motive is to customer satisfaction and we have a team of professionals who will resolve your queries in minimum possible time span. Contact Us:- Address– 201, Wing-II, Hans Bhawan, IP Estate, ITO, New Delhi, Delhi 110002 Mobile Number: +91- 9999049208 Website - https://swaritadvisors.com/