Getting MSME Registration Certificate in India

Medium and small scale industries have opting for MSME registration certificate. The sole reason why MSME (Micro Small Medium Enterprises) registration has been best option is that it offers several benefits to industries with the MSME enrolment. Besides, the government has introduced several schemes under MSME which provides a myriad of advantages to the small scale industries (SSI).

Getting MSME registration is not mandatory, experts still recommend micro, small, and medium enterprises to get the MSME certificate as soon as possible and enjoy several subsidies and benefits under the MSME scheme. Further, before moving on to the process of obtaining registration certificate, let us understand its pre-requisites.

MSME Latest Update from Budget 2019

In the latest Interim Budget, Mr. Piyush Goyal announced that the Government can now give 2% interest subvention to all the GST registered MSMEs under the MSME Credit Scheme.

Why you should MSME registration certificate in India, Reasons :
By Obtaining MSME/SSI registration, you become eligible for availing various benefits under Central and Government schemes. However, bank loans and government subsidies are the elementary benefits of SSI or MSME registration. Other major benefits are as follows:

• Easy to avail bank loans
• Hassle-free bank account opening
• Octroi benefits
• Participation in International Trade Fairs
• Exemptions under Income Tax
• Waiving off stamp duty and registration charges
• NSIC and Credit Rating
• Reimbursement under the Bar Code Registration
• Protection in case of delay
• Industrial Promotion Subsidy
• Bank loans at lower interest rates
• ISO Certification Benefit
• Capital subsidy
• Subsidy on the Patent Registration
• Preference in the government tenders

Eligibility Criteria for getting certification of MSME registration?

Anybody can apply for MSME registration who satisfies the following conditions as below:

• In the case, the applicant belongs to the HUF (Hindu Undivided Family);
• If the individual is a sole proprietor (excluding the business owner);
• In cases, an entity works as a partnership or has a partnership firm with another party in association;
• If you are running a One Person Company (OPC);
• The entity has co-operative societies;
• In the case, the applicant runs a private limited company;
• If you have a production company producing materials;
• Any other undertaking.

Documentation for MSME registration in India

In order to obtain MSME registration, you are required to submit the following documents to the concerned body:

• Identity proof such as PAN card of all the directors or partners or proprietor
• Address proof such as Aadhaar card or Voter Card or passport or Driving license, etc. of all the directors or partners or proprietor
• Business address proof such as lease agreement or possession letter or allotment letter or property tax receipt
• If the office premise is on rent, then NOC (No-Objection Certificate) from the landlord
• Utility bills not older than two months
• Copy of purchase bill for every raw material purchased
• Copy of sale bill for every end product
• A copy of Industrial license under the Industrial Development and Regulation Act, 1951
• Memorandum of Association (MOA) and Articles of Association (AOA) of the company. Further, Certificate of Incorporation (COI), in the case, the company has Private Company Registration.
• Copy of partnership deed in the case you have a partnership firm
• Bank account statement
• Purchase bill of machinery installed
• An affidavit on Rs. 10/- non-judicial stamp paper. It should have the attestation of Notary Public providing the status of power requirement, machinery installed, etc.
• Bills regarding the installation of purchasing of plant and machinery.