MSME  REGISTRATION

Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and processing of goods and commodities.

The concept of MSME was first introduced by the government of India through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.

MSME registration is also known as Udyam registration.

MSME classification is based on Investment in Plant & Machinery/equipment and Annual Turnover:

Some of the benefits being provided to MSME:

• Credit linked subsidy program for setting up new micro-enterprise in non-farm sector.
• Margin Money subsidy ranges from 15% to 35% of project cost for projects up to Rs. 50 Lakh in Manufacturing sector and Rs. 20 Lakh in the Service sector.
• For beneficiaries belonging to Special categories such as SC/ST/ Women/ Minorities/ Ex-Servicemen/ Transgenders/ Aspirational districts/NER, the margin money subsidy is 35% in rural areas and 25% in urban areas.
• Maximum subsidy would be 15% of the project cost (20% for NER and Hill States). The balance amount of the total project cost is provided by Banks as term loan.

Many more beneficial schemes are being launched by the govt. to boost MSME.

The question is who can file / take MSME registration? The below is the answer:

The following can apply for MSME registration provided they full-fill MSME criteria laid down by Govt. of India. 

• Individuals, startups, business owners, and entrepreneurs
• Sole proprietorship
• Partnership firm
• Limited Liability Partnerships (LLPs)
• Private Limited Companies
• Public Limited Companies
• Self Help Groups (SHGs)
• Co-operative societies
• Trusts

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