MSME Registration

Micro, Small, and Medium Enterprises (MSME) are an important aspect of India's historical economic model and a crucial component of the product and service supply chain. The MSMED Act was designed by the government of the country to promote and encourage these small-scale industries. The Act was enacted to keep track of all industries classified as MSME or SSI. Manufacturing enterprises and service enterprises are the two basic categories of MSME registration. MSME registration is a need for every firm to start and operate legally in India. SSI- registered firms are now recognised and registered as MSMEs, or Micro, Small, and Medium Enterprises. Micro, Small, and Medium Enterprises are abbreviated as MSME.

Benefits

Subsidy on Patent Registration

MSMEs registered with the MSME ministry are eligible for a 50% rebate on patent registration fees under current legislation.

Overdraft Interest Rate Exemption

In a system that varies from bank to bank, businesses and firms classified as MSMEs can get a 1% discount on their Overdraft.

Industrial Promotion Subsidy Eligibility

Businesses that have been designated as MSMEs are eligible for government-funded Industrial Promotion subsidies.

Bank Loans

The Indian government has made loans without collateral available to all small and micro businesses. This initiative provides funding to micro and small businesses.

Procedure

Below is the procedure for MSME registration-

Start Registration Process

To begin the MSME Registration Process, go to the official website.

Fill Application Form

The first step is to complete the MSME Registration form, which includes all of the relevant information about your firm, such as the company name, registration number, GST number, and soon.

Enter Personal Details

At this point, you must fill in all of your personal information, including your name, address, PAN card, bank account information, and other information that is required during the MSME registration procedure. A photo must also be uploaded. Check that the photo's size is within the site's permitted limitations before uploading it.

Executive Will Process Application

An MSME executive will assess your application during this stage. If there is a disparity, you will be contacted and given the opportunity to correct it.

Receive Certificate of Mail

You will receive a certificate for MSME Registration after completing the entire form. You can download a copy of the Sample MSME Certificate to see how it works. You will not receive a hard copy from the Ministry. For MSME Registration, you will receive a virtual certificate..

Why Legal Birbal?

Legal Birbal can assist your company in obtaining MSME Registration online so that you can take advantage of a variety of perks. Our team of pros can assist you with MSME online registration or SSI online registration.