MSME: Any business has to be registered under MSME to start operating legally in India. According to the MSME Act, companies in the manufacturing or service sector can register under MSME. The Government of India has not yet made registration mandatory under MSME, but being registered benefits the business. Let us understand the method of its registration.
What is MSME
MSME (Micro, Small and Medium Enterprises) was formed by the Government of India as per the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. MSMEs are organizations working in the field of manufacturing, manufacturing, service etc. The Ministry of MSME (MoMSME) promotes the products and services of these companies. Companies also get financial assistance from the ministry.
– Aadhar Number
– PAN number
– business address
– bank details
MSME Registration Certificate
MSME Registration Certificate is the proof of the MSME industry being registered. MSME Certificate is a unique number given to individuals or organizations who register their MSME business through the MSME Registration Portal. This is very important for business.
Benefits of MSME Registration
– By registering in MSMEs, benefits of government schemes can be taken.
– Get a discount on your electricity bills.
– Subsidy on interest rates on bank loans
– Helpful in participation in international trade fairs
– Late payment protection
– ISO Certificate Security
How to Apply for MSME Registration
– Visit the official MSME registration portal.
– Select the Business Registration tab.
Fill the application form with all the required information
– Select the payment option for the application
– The application will be processed by a representative and MSME certificate will be issued in 1 or 2 hours.
MSMEs are organizations working in the field of manufacturing, manufacturing, service etc. The Ministry of MSME (MoMSME) promotes the products and services of these companies. Companies also get financial assistance from the ministry.
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What is MSME how is it registered know everything
Any business has to be registered under MSME to start operating legally in India.
Story first published: Thursday, November 10, 2022, 15:49 [IST]