MSME/SSI REGISTRATION SERVICES
The registration process for Small Scale Industries is facilitated by the Ministry of Micro, Small, and Medium Enterprises (MSMEs) with the assistance of the Ministry of Small Scale Industries. It is necessary to obtain SSI registration in order to benefit from a variety of government programmers, subsidies, and incentives. The SSI registration form is available online for the applicant to complete and submit in order to obtain a registration number. As per the Ministry of Micro, Small, and Medium Enterprise Development (MSMED) Act of 2006 MSMEs are classified into two types i.e.
- Manufacturing enterprise and
- Service enterprise
Revised Guidelines and Threshold limit for MSME
Investment Threshold Limit
Turnover Threshold Limit
Less than Rs. 1 Crore
Less than Rs. 5 Crore
Rs 1 to 10 Crore
Rs. 1 to 25 Crore
Rs. 10 to 50 Crore
Rs 25 to 250 Crore
PROCEDURE FOR REGISTRATION OF SSI/MSME
A unit may apply for a PRC (Provisional Registration Certificate) for any item which does not require an industrial license, which includes items listed in Schedule-III along with items not listed in Schedules I or II of the licensing Exemption Notification. Even for those items included in Schedule-II, units employing less than 50/100 employees with/without power may apply for registration.
The unit required to submits an application for PRC on the specified form. There is no field inquiry and a PRC is released.
The PRC is valid for a period of five years. If the entrepreneur is unable to open the business within this time period, he will reapply at the end of the five-year term.
If the unit starts producing, it must apply for permanent registration.
Once the unit progress has been made, it must submit an application for permanent registration in the prescribed form within the given period.
The unit has obtained all required clearances, both statutory and administrative. For example, a drug license under a drug control order, a NOC from the Pollution Control Board if necessary, and so on.
At the point of assessment, the unit is not in violation of any current location restrictions.
The value of the plant and machinery is within the defined parameters.
According to the notice, the unit is not owned, managed, or a subsidiary of any other industrial undertaking.
Provisional registration certificate:
- This is provided during the pre-operative period and allows units to obtain term loans and working capital from financial institutions/banks under priority sector lending.
- Obtain accommodation, land, and other approvals, among other factors.
- Obtain various NOCs and clearances from regulatory bodies such as the Pollution Control Board, Labor Regulations, and so on.
Permanent registration certificate:
- According to state government policy, income tax and sales tax are exempt.
- Incentives and tariff concessions etc.
- Price and purchase preference for manufactured goods
- The availability of raw materials is determined by current policy.
- A tiny unit of permanent registration should be renewed every 5 years.
HOW SSI/MSME REGISTRATION HELP MY BUSINESS?
- Easy & cheaper bank loans: 59-minute loan - The government recently announced that all MSMEs with MSME registration and GST registration would be granted a simple loan of up to Rs 5 crore in 59 minutes.
- Reservation benefits to MSME
- Trademark Government Fees Have Been Relaxed - After MSME Registration, MSME are eligible for a variety of fee relief. The government has relaxed trademark government fees for MSME licensed organizations. Despite the fact that the trademark charge for companies other than MSME's is Rs 9000/-, the fee for small businesses will be Rs 4500/-. Certain government tenders are only available to SSIs.
- Stamp duty and registration charges are waived off
- Credit Support Schemes - The Indian government operates a number of credit support schemes for small and medium-sized businesses.
- Refrain from asking for security deposits
- When a unit receives permanent registration, it becomes easier to obtain government licenses and certifications. Because of the numerous concessions and rebates available, the cost of establishing an industry is reduced.
- Concession in the electricity bills
- Reduction in the rate of interest by major banks: Minimum Interest rate - Ease of obtaining funding after MSME registration MSMEs are acknowledged by all banks and other financial institutions, and special schemes have been developed for them. Small and medium-sized businesses (SMBs) benefit from lower interest rates on business loans.
- Reduction in fees for filing patents and trademark registration to get protection under the rights of intellectual properties.
- Industrial promotion subsidy
- Increased chances of winning government tenders: Tender Qualification - In government tender allotment, a certain quota is reserved for MSME Registered Entities. No Delayed Payment - If an MSME entity makes a transaction, the buyer must pay to the MSME's entity within 45 days of the date of delivery of the goods or services.
- Reimbursement under the bar code registration
FEW OTHER RELIEFS FOR MSME AMID COVID-19
After the coming of the COVID-19 crisis, the Central Govt has introduced the Atmanirbhar Bharat Relief Package for the MSME sector. Under this Govt has given few reliefs to Indian MSMEs:-
- INR 20,000 Cr Subordinate Loan to the MSMEs sector
- INR 3 lakh Cr Collateral free Loans to be provided to MSME sector unit, for a period of four years.
- INR 50,000 CR equity infusion to be done via MSME “Fund of Funds”.
REQUIREMENT FOR APPLICATION OF SSI REGISTRATION:
- The application is divided into three sections that include the Applicant's name and address, the Company/Industries name and address, the Name of Products/Item, the Coast of Machineries, and the Coast of Mfg. Item, list of documents attached to the application.
- Provide a rental/lease agreement.
- Self-certified copy of the power of attorney/board resolution/society resolution is required.
- Submit a self-attested copy of the partnership deed, memorandum of association, and articles of association, as well as the certificate of incorporation.
- Submit a copy of the Company's and Directors' PAN cards.
- Submit the company's address proof (telephone bill, the electric bill, etc.).
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