Registration Process
The Micro, Smal, and Medium Enterprise (MSME) sector play a prominent role within the economic process of a developing country like India. This sector has been established with an underlying aim of nurturing the micro, small, and medium enterprises in India. MSME sector in India also provides a big contribution towards manufacturing, exports, employment, and industrial units in India. In short, the economic process of India also relies on MSME sector development. Almost 70% of the Indian GDP comes from the MSME and SME sector. This includes businesses right from the agricultural areas to raw materials, manufacturing and retail business. it’s important for these companies to be registered under the MSME sector for the expansion of the business and also to form it easier for the govt .
WHAT IS THE REGISTRATION OF MSME?
Any company that comes under the category of MSME needs t to make sure they’re registered under the MSME category. MSME registration stands for the micro small and medium enterprises registration. MSMED Act has been launched by the govt of India to support the MSME through various schemes, subsidies, and incentives. With MSME Registration, banks also provide the loans at lower rate of interests, as these MSME play a crucial role within the country’s economic process
Now that you simply skills to categorise different businesses consistent with their nature of business and investments, subsequent step is to understand the way to register a business as an MSME. This registration requires a couple of documents, personal details, details about the individual then on. Read on further to understand more about the registration process within the MSME Sector.
Before starting the method , make sure that you’ve got an Aadhar Card. Aadhar Card is compulsory within the registration of MSME. just in case you are doing not have one, an application is to be filled online. you’ll follow this link to understand more.
Documents Required for MSME Registration in India
The important documents that are mandatory for MSME registration are given below:
- Address Proof (of Business)
- Rented Property: NOC from the owner , Rent receipt, and a utility bill or its equivalent are mandatory as a symbol of landlord’s ownership
- Self-owned Office: For self-owned offices, one must have allotment letter, possession letter, land tax receipt, or lease deed. If a municipal license exists against the business name or its proprietor, director or partner, then no need of a possession document
- Receipts/copies of each sale and buy bills
- Bills of machinery purchased and therefore the copy of important licences
- Articles of Association (AoA) and Memorandum of Association (MoA)/Partnership Deed along side the copy of board resolution and incorporation certificate
