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What is SSI/MSME Registration

Small scale industries play a vital role in the socio-economic development of India. To promote and encourage these small-scale industries, the government of the country created the MSMED Act. The Act was created to maintain a list of all the industries registered as MSME or SSI. The record aided in providing support and incentives to these firms. Furthermore, SSI helped in employment of people at little capital investments.

The MSMED Act includes:

  • • Small Scale Industries (SSI)
  • • Micro, Small and Medium Enterprises (MSME)
  • • Different sectors have different limits for registering under the act.
  • • A manufacturing enterprise with plants and machinery that required an investment of below 10 Crores can be an MSME.
    • Register Here

    What is SSI/MSME Registration

    Small scale industries play a vital role in the socio-economic development of India. To promote and encourage these small-scale industries, the government of the country created the MSMED Act. The Act was created to maintain a list of all the industries registered as MSME or SSI. The record aided in providing support and incentives to these firms

    The MSMED Act includes:
    • • Small Scale Industries (SSI)
    • • Micro, Small and Medium Enterprises (MSME)
    • • Lesser interest rates
    • • Excise exemption scheme
    • • Subsidies in tax, capital investment and power tariff
    • • Other support
    Under the MSMED Act, these small businesses get varying incentives such as
    • • Priority sector lending
    • • Tax exemptionsd
    • • Capital investment

    Opening of the Current Account

    01
    Current account or Demand Deposit Account is used by businesses for a higher number of transactions, including deposits, withdrawals, and contra transactions. It helps in the smooth functioning of a business.
    Obtaining important approvals and NOCs

    How we can help with MSME Registration

    In 10 – 20 days time SMITH TAX obtains your MSME registration (without factoring in Government approval time).
    2 Working Days
  • • PAN cards
  • • Rental agreement for the office address (if rented)
  • • Memorandum and Articles of Association
  • • Certificate of incorporation
  • • For private limited companies:
  • • Partnership agreement
  • • Form 32
  • • Form 18
  • • For Partnerships:

    • Apply For Provisional Registration

    A PRC ( Provisional Registration Certificate) is allotted to new enterprises without any field enquiry. It is purely an application-based form. Therefore, it has to applied in the precise prescribed form before operations begin in the unit. Once the application is submitted, the provisional registration will be provided without a physical inspection of the unit. The procedure is quick so that newly established firms can avail multiple benefits, quick loans and other necessary approvals.

    Who should obtain SSI/MSME Registration

    • Micro Enterprises
    • Medium Enterprises
    • Small Enterprises

    Micro Enterprises

    • A manufacturing enterprise should have investment of less than Rs. 25 lakhs in plant and machinery. A service enterprise should have less than Rs. 10 lakhs invested. These micro enterprises are the smallest entities

    Medium Enterprises

    • If it is a manufacturing enterprise, the investment in plant and machinery has to be between Rs. 5 crore and Rs. 10 crores. If it is a service enterprise, the range is from Rs. 2 crores to Rs. 5 crores.

    Small Enterprises

    • For manufacturing enterprises, the investment has to be between Rs. 25 lakhs and Rs. 5 crores in plant and machinery. For service enterprises, the range is between Rs. 10 lakhs and Rs. 2 crores.

    List of documents required for SSI / MSME Registration

    • • Business address proof
    • • Copies of sale bill and purchase bill
    • • Partnership Deed/ MoA and AoA.
    • • Copy of licenses and bills of machinery purchased.
    • • For firms that are listed in Schedule -III of the Industrial Licensing Exemption Notification, no Industrial license is needed. Every other enterprise must obtain it for the PRC (Provisional Registration Certificate) application.
    • • For the registration and document process, all statutory and administrative clearances need to be obtained such an NoC from pollution board to prove that no restrictions are being violated.