MSME Registration

 

  Overview

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           India is a developing country where major part of the economy is formed by the micro, small and medium scale enterprises. These enterprises are largely engaged in the activities of manufacturing, production, processing or the preservation of goods. One of the major features of these companies are that they are having the limited amount of investment in plant and machinery and the equipment’s. There are various schemes and incentives for all the business units registered as MSME introduced by government of India for their motivation. Currently the MSME’s are generating the employment for over 50 million people and contributing the 8% to the gross domestic product.

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What are the documents required for MSME registration?

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• • Business address proof

• • Copies of Sales bill or purchase Bill

• • Partnership Deed or MoA and AoA

• • Bills of machinery

• • Copies of licenses

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MSME registration?

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• 1. Government Tenders- There are certain products that are purchased by the government from the business registered under the MSME scheme only.

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• 2. Tax Rebates- Also the government of states provide for the specialized industrial estates, tax subsidies, power tariff subsidies, capital investment subsidies and other support.

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• 3. Cheaper Bank Loans- For the companies registered under the MSME scheme the rate of interest is less than other for Bank loans.

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• 4. Miscellaneous Benefits- The fee for registration of intellectual property rights of MSME is less than the fee of companies. This is because for the IPR registrations the MSME are considered as the individuals and the fee is charged accordingly.