The government of India provides various incentives & subsidies to the MSME sector. Only registered entities are eligible for the Government subsidies.
MSME Sector gets ease in applying for government micro business loans and other such related schemes. Banks offer collateral free loans and reduced interest rates to these entities.
Government provides financial support for participating in foreign expos to showcase products of registered entities.
MSME’s gets exemptions while applying for Government tenders. They are even given preference in allocation of Government tenders.
The government provides reimbursement of payment of consultation fee made for obtaining ISO registration.
There are various relaxations provides to MSME while obtaining registrations under different laws and approvals to obtain licenses.
Stamp Duty and Registration Fees is waived in many cases for the MSME entities. There is subsidy for patent registration, NSIC performance and Credit Ratings.
The government has provided protection against delayed payments to MSME. Companies needs to intimate ROC where payment outstanding to MSMEs suppliers is exceeding 45 days. There is faster dispute resolution mechanism for MSME.
There are various products which reserved for the exclusive manufacturing by MSME. These products can only be procured from MSME.
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There is an online process for MSME registration.
Any and every type of business enterprise from private limited company, public limited company, sole proprietorship, partnership firm to limited liability partnership, hindu undivided family, one-person company, co-operative society and association of persons can obtain MSME/Udyam Registration
MSME/Udyam Registration comes with numerous benefits and various relaxation to take away some burden from growing enterprises and all eligible enterprises should get themselves registered under MSME/Udyam.
In case of Proprietorship – Aadhar Card of Individual
In case of Partnership Firm – Aadhar Card of Managing Partner
In case of HUF – Aadhar Card of Karta
In case of Company/LLP/Cooperative Society/Society/Trust – GSTIN and PAN of the organization and Aadhar Card of authorized Signatory
Mobile No & Email ID
PAN Number
Bank Account details & IFSC Code
Partnership deed/MOA & AOA
Note on business activity of the entity
Copy of Sales & Purchase bill
Details of No. of Employees.
Details of Investment in Plant & Machinery
Classification | Enterprise |
---|---|
Micro Enterprise |
Upto ₹1 crore of investment in Plant & Machinery or Equipment AND Upto ₹5 crore of Turnover |
Small Enterprise |
More than ₹ 1 crore but upto ₹10 crores of investment in Plant & Machinery AND More than ₹ 5 crore but upto ₹50 crores of Turnover |
Medium Enterprise |
More than ₹ 10 crore but upto ₹50 crores of investment in Plant & Machinery AND More than ₹ 50 crore but upto ₹250 crores of Turnover |
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Since the start of my entrepreneurship journey, Start-up Movers have been managing our Secretarial Compliance (including fundraising compliances), and financial compliance (such as GST, TDS, PF/ ESI, PT) The team has been phenomenal. They are well-versed with all MCA rules and regulations.
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Classification | Enterprise |
---|---|
Micro Enterprise |
Upto ₹1 crore of investment in Plant & Machinery or Equipment AND Upto ₹5 crore of Turnover |
Small Enterprise |
More than ₹ 1 crore but upto ₹10 crores of investment in Plant & Machinery AND More than ₹ 5 crore but upto ₹50 crores of Turnover |
Medium Enterprise |
More than ₹ 10 crore but upto ₹50 crores of investment in Plant & Machinery AND More than ₹ 50 crore but upto ₹250 crores of Turnover |