Micro, Small and Medium Enterprise or MSME registration of a business means a business is registered with the government under the MSMED Act. A business registered as an MSME in India can avail numerous benefits and subsidies from the government. These government incentives can be availed in terms of tax benefits, power subsidy tariffs, capital investment subsidy, collateral-free loans from banks, IPS subsidy and much more.
MSMEs in manufacturing and service sector can get MSME registration or SSI registration voluntarily to avail these benefits. All kinds of businesses whether a Sole Proprietorship, Limited Liability Partnership, Private Limited Company, Partnership firm, HUF, Association of Persons or Co-operative societies can get MSME registration under the MSMED Act.
After the necessary documents are submitted, the legal experts at Legistify draft and file the MSME registration application. The MSME/ SSI form is submitted for approval from the government authority. Once the documents and the application form are approved, the MSME registration is completed.