MSME stands for Micro, Small and Medium Enterprises. Government has started various schemes and incentives to promote small scale industries and to avail such incentives, MSME registration is mandatory. The Micro, Small and Medium Enterprises Development Act was notified in the year 2006 to address policy issues, investment and fund issues affecting the MSME sector. It was established to promote, facilitate and develop the micro, small and medium enterprises in the country.
If your MSME enterprise has an MSME registration, there are numerous benefits you stand to reap. This includes an easy sanction of bank loans, lower rates of interest, excise exemption scheme, an exemption under direct tax laws and legal support such as reservation and the interest on delayed payments. Other benefits include tax subsidies, power tariff subsidies, and capital investment subsidies.
Register your business enterprises as MSME to take the benefits of Government package and more benefits which will be announced by government in future:
Documents and details required for MSME Registration
- PAN Card
- Aadhar card
- Voter ID/ Driving License / Passport and other Address Proof
- Cancelled Cheque
- Name of Business
- Business Address
- Email ID
- Mobile No.
- Total Number of Employee
- Investment Amount In Plant & Machinery
- List of Item
- Incorporation Certificate
- Partnership deed
- MoA and AoA