Get your MSME Company Registration Online through Marks India in Chennai and across India. Simple, hassle free process to get your firm MSME certified.
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MSME Registration Process
Micro, Small and Medium Enterprise (MSME)
The Micro, Smal, and Medium Enterprise (MSME) sector play a prominent role in the economic growth of a developing country. This sector has been established aim to development of the micro, small, and medium enterprises in India. MSME sector in India also provides a significant contribution towards manufacturing, exports, employment, and industrial units in India. In short, the economic growth of India also relies on MSME sector development. MSME sector is also popularly known as the Small Scale Industry (SSI) in India.
Two distinct categories of MSME exist in India, whose eligibility depends upon the investment in machinery and plant by the businesses.
Key Benefits of MSME Registration for Businesses in India
Businesses can avail cheaper bank loans with lower interest rates (around 1 to 1.5 per cent) in comparison to regular loans
Tax rebate availability
Unlike the regular Minimum Alternate Tax (MAT) duration of 10 years for credit, MSMEs are allowed to carry forward this limit to 15 years for credit against MAT
Special government tenders catering MSMEs mainly
Easy credit accessibility Low-cost for industry set-up, patents, and so no due to special tax rebates and other concessions
High preference from the government in terms of licencing and certification
One time settlement option for the unpaid amount
Documents required for MSME Registration
ID Proof
Scanned copy of PAN Card of all directors and Voter ID/ Passport/ Driving License and Aadhar Copy
Address Proof
Latest Bank statement/ Utility bill in the name of director which should not be older than two months
Photo
Latest passport size photograph
Registered Office Proof
Certificate of Incorporation, MOA, AOA
Compliance after formation of MSME Registration
Accounts & Operations
Open a Bank account with one Private bank and one scheduled bank
Get one accounting software with GST facility
Compliances
GST registration
PF & ESI Registration if applicable
Profession Tax registration
Import & Export Code registration
STPI Registration / SEZ registration
Secretarial compliance required for passing resolutions, Change in Management, entering contracts, loan obligations etc
Performance
Review Financial Products performance by every 3 months
Compare the budget amount with actual Financial Products results
Statutory Obligations
File GST return every month without delay
PF & ESI return filing
TDS Payments & Return filings
Advance Tax payments
File income tax return by every year before due date
