MSME-(SSI) Registration

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MSME Micro, Small & Medium Enterprises Registration:

The registration under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 is for facilitating the promotion and development and enhancing the competitiveness of Micro, Small and Medium enterprises.

What are Micro, Small and Medium enterprises? 

The following slabs have been prescribed under the MSMED Act to determine the status of the Enterprise:

1  Micro  Does not exceed Rs. 25 Lac  Does not exceed Rs. 10 Lac
 2  Small  Exceeds Rs. 25 Lac but does not exceed Rs. 5 Crore  Exceeds Rs. 10 Lac but does not exceed Rs. 2 Crore
 3  Medium  Exceeds Rs. 5 Crore but does not exceed Rs. 10 Crore  Exceeds Rs. 2 Crore but does not exceed Rs. 5 Crore

 

Provisional Registration: 

Provisional registration is granted to a unit at its pre- investment period to enable it to take necessary steps to apply for financial credit, land or an industrial set, water, power or telephone connections, etc.

Permanent / Final Registration:

A provisionally registered industrial unit when it is about to go into production is to apply for grant of Permanent / Final Registration. An existing and functioning industrial unit is eligible to apply for Permanent / Final Registration without going into provisional registration processes.

BENEFITS OF SSI/MSME REGISTRATION
  • Easy finance availability from Banks, without collateral requirement
  • Protection against delay in payment from Buyers and right of interest on delayed payment
  • Preference in procuring Government tenders
  • Stamp duty and Octroi benefits
  • Concession in electricity bills
  • Reservation policies to manufacturing / production sector enterprises
  • Time-bound resolution of disputes with Buyers through conciliation and arbitration
  • Reimbursement of ISO Certification Expenses
  • Credit prescription (Priority sector lending), differential rates of interest etc.
  • Excise Exemption Scheme