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Advantages Of MSME/SSI ?
- Ideal For Professionals and Software Firms
- Cheaper bank loans : The rate of interest on loan offered to MSMEs is 1-1.5% lower compared to typical business loan interest.
- Easy access to credit : PM Modi has introduced the Mudhra Loan scheme, which provides loans to MSME / SSI without collaterals.
- Quicker approvals from state and central government bodies: Business registered under MSME are given higher preference in terms of government license and certification.
- Tax rebates : MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the government.
multiple benefits of MSME / SSI
- Cheaper infrastructure : Charges are lower for MSME registered company for facilities such as electricity and VAT exemptions. In fact, other business services such as patents are also cheaper for MSMEs.
- Access to tenders : There are multiple government tenders which are open only to MSMEs to promote small business participation in the India.
What is MSME/SSI Registration?MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration online helps businesses avail multiple government subsidies and benefits MSMED act, MSME gov.
Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration or SSI/Small Scale Industry Registration under the MSMED act, MSME gov. Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as rate of interest charged would be very less, tax subsidies, capital investment subsidies and much other support from the government sector.
What Is Included In Our Package?
Government Registration Fees
Document submission to MSME registrar
Obtain MSME certificate
Procedure For Company Registration
Complete our Simple Form
Preparation of Documents
Your work is completed
Frequently Asked Questions
1How do you get MSME Registration?
Although, there is no compulsion to get MSME registration but is always advised to do so as it provides lots of benefits to the enterprises registered under MSME Act. It will save you from a lot of inconveniences later on. After assigning you the Provisional MSME Certificate and you can begin with your production and even apply for a Permanent Certificate which will add more advantages for you. Always apply for provisional registration at an initial stage of the business.
2Is SSI/MSME Registration voluntary or mandatory?
As said above, SSI/MSME registration is totally voluntary. Businessmen and entrepreneurs usually get this done to utilise the advantages offered under it. The registration process is quite easy and simple. You can easily avail it (provided you have a manufacturing plant or a commercial space where you render services), many businesses opt for it over other registrations.
3Why should i apply before commencing operations?
It is advisable to get a Provisional SSI Registration Certificate (PRC) before starting your operation in your enterprise. The PRC will work smoothly for you and will help you out with particular NOCs and clearances from regulatory bodies.
4What Documents are requred for the application?
If your business or enterprise is listed under Schedule –III of Industrial Licensing Exemption Notification, then you can easily apply for PRC without an industrial license. Other units must first acquire an industrial license. All the clearances should be obtained by enterprise whether it be statutory or administrative. For example, a drug license under the drug control order, if required. The PRC is issued based on the application form. No field enquiry is made.
5For how long is an MSME Provisional Registration Certificate (PRC) Valid?
The validation of a PRC is for 5 years and if the unit is still not under operational then you may still re-apply for it. As soon as you start with your operations, you can easily apply for the Permanent License.
6How does SSI/MSME help me gt a loan from a bank?
MSMEs are recognised by all the institutions and banks. Special schemes are drafted to recognise them as well. Banks prefer MSMEs instead of normal enterprises to lend loans. The possibility of getting a sanctioned loan is much higher in a case of MSME. Bank loan interest rates will also be lower. There may also be preferential treatment in case of delay in repayment.
7What benefit are given to MSME by state and central government?
Many state government prefers enterprises which are registered under MSMED Act. Subsidy such as on power, taxes, and much more is offered by state governments. In most of the states, sales tax exemption is provided purchase preferences is given on goods produced. The enterprise may also relish excise exemption scheme and exemption from certain direct taxes in the initial years of your business.
8How is the value of plant and machinery computed for SSI registration?
While computing the value of Plant and Machinery, only original value is asked to be taken into account as per the MSME notification.
9What is credit rating and why is it mandatory?
Credit rating is an estimate to figure out the capability of an enterprise to meet all the financial needs based on the previous year dealings. Although credit rating is not compulsive but it is in the interest of the MSE borrowers to get their credit rating done as it would help in credit pricing of the loans taken by them from banks.
10When i will get my SSI Licence?
If you are currently running small-scale industries(SSI) in India then you need to get the registration of SSI to avoid future conflicts. There is no such term as SSI License. Once you will be done with your SSI Registration, then you will get an SSI certificate which would be valid for any small scale industry runner.