MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration online helps businesses avail multiple government subsidies and benefits MSMED act, MSME govt.

Micro, small and medium sized enterprises, in both the manufacturing and service sector can obtain MSME Registration or SSI/Small Scale Industry Registration under the MSMED act, MSME govt. Although getting MSME online registration is not mandatory but it is always suggested to small and medium enterprises to get it done it provides a variety of benefits. Benefits such as rate of interest charged would be very less, tax subsidies, capital investment subsidies and much other support from the government sector.

To utilise all the benefits which are offered under MSME act, the enterprise should be registered as MSME with the concerned department. These benefits of MSME registration include priority sector lending, power tariff subsidies, capital investment subsidies and excise and direct tax exemptions.

Following are the conditions which need to be fulfilled to qualify under MSME Act:

• All the manufacturing enterprises which have invested less than Rs. 10 crores in machinery and plant are allowed to be registered as MSME.
• In service enterprises, the investment in plant and machinery should not be more than Rs. 05 Crore.

CLASSIFICATION UNDER MSME REGISTRATION

An industry owner before applying for the registration for MSME should know the requisites to classify his company and must file his application in that category only in order to avoid any cumbersome technicalities. As a result of this, Government of India has come up with a set of rules and regulations for the industries in order to classify them. The classification is mentioned below:

• Micro industries- In applying for registration of these kinds of industries your investment shall not exceed 25 lakhs for companies in the manufacturing sectors and 10 lakhs for the service sector.
• Small industries- In small scale industries the investment shall not exceed 5 crores for companies in the manufacturing sectors and 2 crores for the service sector.
• Medium industries- when applying for medium industries your investment shall not exceed 10 crores for companies in the manufacturing sectors and 5 crores for the service sector.

Easy Legal can help your business obtain MSME Registration online to avail a host of benefits. MSME online registrationor SSI online registration can be done through Easy Legal in Delhi NCR