MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.
Micro, small and medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.
Documents Required for MSME Registration
- Scanned Copy of Proprietor ID Proof
- Scanned Copy of Authorization Person ID Proof
- Covering Letter New/Amendment with documents list
- Scanned Copy of Proprietor Address Proof (DL/Voter ID/Passport/Aadhar card)
- Scanned Copy of Authorized Person Address Proof (DL/Voter ID/Passport/Aadhar card) (If Applicable)
- Scanned Copy of Business Place Rental Agreement
- Scanned Copy of Business Place Rental Electricity Bill
- Scanned Copy of Proprietor House Rental Agreement & Electricity bill or Tax Paid Bill
- Others if any..