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The registration of Micro, Small and Medium (MSME) businesses enables these businesses to take advantage of numerous government perks for their launch and development. The MSME sector is the foundation of the economy. Although MSME are not required to obtain this registration, it is advised to do so because there are numerous advantages in terms of taxation, company setup, credit facilities, loans, etc.
Net investment in plant and machinery or equipment up to Rs. 1 crore and net turnover ≤ Rs. 5 crores
Net investment in plant and machinery or equipment ≤ Rs. 10 crores and net turnover ≤ Rs. 50 crores
Net investment in plant and machinery or equipment ≤ Rs. 50 crores and net turnover ≤ Rs. 250 crores
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Types of MSMEs
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Definition under the MSMED Act
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Before beginning the MSME Registration process, it is necessary for businesses to fulfil certain minimum requirements. Among these, the most important is the preparation of complete MSME Registration documents list. Preparing the documents required for MSME Registration beforehand, not only expedites the process but also makes it smoother and hassle-free.. In the table below, we have enlisted all the minimum requirements and documents for MSME Registration in detail.
The Validity of MSME Registration Certificate extends for a lifetime. There is no requirement for MSME Renewal at regular intervals. However, registered MSME must update the net turnover and investment limits every financial year on a self-declaration basis. The requirement for such an update is provided under a notification dated 26th July, 2020.
At Srprof Advisory, we provide end-to-end assistance in Online MSME Registration for Startups and Small Businesses at affordable prices. Our team of MSME Registration consultants and legal advisors are available for guidance and support at every step. We assist through the preparation of documents to filing the complete application. With our robust customer support and 24*7 consultation, you will receive your MSME Certificate quicker than you ever expected!