The Micro, Small, and Medium Enterprises (MSME) form the backbone of the manufacturing and services sectors in any developing country. As far as India is concerned, these Micro Small & Medium Enterprises have been contributing massively to the national output (up to 45%), both in the sectors of manufacturing and services, employment (around 35 million), and earnings from exports (over 30%). Hence, our full-fledged and well-resourced law firm, TaxPro Experts, also offers the full range of legal and supportive services for these enterprises located across the country, essentially including the expert and economical service for MSME registration / Udyam registration in India, for secure and profitable engagement in the desired economic field.
The Ministry of Micro, Small, and Medium Enterprises is the apex governmental body in India, which is exclusively concerned with the formulation, administration, and regulation of various rules and regulations associated with the MSME in the entire country. In addition to proficient MSME registration online, TaxPro Experts also extends the full range of legal and supportive services for MSMEs, which relate to establishing production infrastructure, necessary approvals & clearances from regulatory bodies, recruitment of workforce, quality certifications, business management, financial assistance from any industrial or commercial bank, planning and market research for further growth, etc. Exclusive information about how to get, MSME registration and other relevant info is being provided in the sections below.
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is given below.
A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh, for micro service less than Rs. 10 lak
A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore, for small service between Rs. 10 lakh to Rs 2 Crore.
A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore, for medium service between Rs 2 core to Rs. 5 crore.
Copy of PAN Card of directorsElectricity/ Water bill (Business Place)Passport size photograph of directorsCopy of Property papers(If owned property)Copy of Aadhaar Card/ Voter identity card of directorsLandlord NOC (Format will be provided)Copy of Rent agreement (If rented property)
In India, getting the MSME registration certificate is not mandatory. However, getting registered under the MSMED Act, is rather beneficial and securing. Hence, MSME registration for company/industry is strongly advisable. Broadly, the following are the main and highly significant benefits of MSME registration anywhere in India: