Welcome to Tax Box India
MSME Registration(Udyog Aadhar) also known as Udyam Registration. A passport for every startup business. We can get it within 2 working days while you sit back at your place and relax. Call us for inquiry at 7249999620
MSME stands for Micro, Small and Medium Enterprises. The MSMEs are key contributors to the socio-economic development of the country. The MSMEs cover almost 95% of commercial units, 50% of exports and 45% of employment.choosing MSME registration isn't a statutory mandate; however,it's advisable to get the advantages of the Mirco, Small and Medium Enterprises Act. The initiative of MSME started functioning in 2006 to form a competitive environment and encourage small businesses to make sure speedy development and boost the economy.
The MSMEs are categorized in manufacturing sectors and repair sectors. These two sectors are further classified supported the investment. The classification has recently been reset supported investment and annual turnover to form a greater scope of growth for the MSMEs. Below is that the reset classification of the micro, small and medium enterprises.
| Criteria | Mirco enterprises | Small enterprises | Medium enterprises |
|---|---|---|---|
| Investment | Less than ₹ 1 Cr | Less than ₹ 10 Cr | Less than ₹ 50 Cr |
| Annual turnover | Less than ₹ 5 Cr | Less than ₹ 50 Cr | Less than ₹ 250 Cr |
The classification given in the upper table is for both manufacturing and service sector’s.
| Particulars | Details |
|---|---|
| Registration Portal | Ministry of Micro, Small and Medium Enterprises. https://www.msmeregistration.co/ |
| Investment Criteria | Below ₹ 50 Cr (Maximum limit) |
| Annual Turnover Criteria | Below ₹ 250 Cr (Maximum limit) |
| Registration Fee | ₹ 999 |
| Certificate | One Certificate for one enterprise |
| Benefits of Registration | Take advantage of various government schemes initiated for the growth of MSMEs. |
The reason behind MSME registration being appealing is that the wide-ranged benefits. Here are the MSME registration benefits.
MSME registered enterprises can avail loans at lower interest rates than regular loans.
Loans will be availed at an rate of interest of as low as 1% to 1.5%
MSME certificate holders can enjoy tax exemption under the MSME Act.
MAT or minimum alternate tax is extended to fifteen years from the regular 10 years.
MSME registered enterprises gets preference for government-issued license and certificates.
By getting registered under MSME, the value of patenting and industry founded reduces thanks to various rebates and concessions.
Many government tenders are given to only MSME registered enterprises.
An MSME gets easy accessibility to credit.
MSME certificates act as evidence of MSME registration Online. For registering over one enterprise, applicants must undergo separate MSME registration online or offline. The fees are charged accordingly. Each enterprise are going to be allotted with a private MSME certificate.
Any person who successfully accomplishes one or multiple of the standards mentioned below is qualified and eligible to use for MSME registration in India.
Any person who is a component of a Hindu Undivided family.
Any person who features aliability partnership.
Any person who owns a partnership firm having another party as his/her association.
Any person who could be a sole proprietor.
Any person who is an owner of a 1 Person Company.
Any person who features a private limited company.
Any person who owns a production company which is actively involved within the production of materials.
Any person who has co-operative societies.
Who has the ability to issue the certificate for MSME Registration in India?
If anyone wants to induce his/her MSME Registration done, he/she is required to contact the nearby District Industries Centre (DIC) department.
Ans: Any style of business can apply for MSME registration or MSME Certificate.
The Forest and Logging activities.
The activities associated with Fishing and aquaculture.
The activities associated with retail trade, Wholesale, and repair of automobiles and motorcycles.
The activities associated with Wholesale trade aside from motorcycles and motor vehicles.
The activities associated with Retail Trade Except of motor cycles and Motor Vehicles.
The activities associated with households as employees for domestic personnel.
The activities associated with undistinguishable goods and services producing activities of personal households for own.
The activities related to extraterritorial organization and bodies.
@2019-2021 www.taxboxindia.com .All rights reserved.| Design & Developed By :- Easy Dots Technologies
