September 3, 2022/
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Special Cases Where ITR Filing is Mandatory : CASE NO. 1: A person deposits a total amount exceeding 1 crore rupees…
MSME(Udhyam)|SSI Registration
MSME(Udhyam)|SSI Registration
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 gov.
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 gov. 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.
Documents Required To Obtain Eating House License
- Application form
- Residence proof of the applicant
- Undertaking with regard to amusement activities
- Site Plan and postcard size photographs of Eating House
- An affidavit on stamp paper of Rs.10/- duly attested by Notary Public
- Fire NOC, if the seating capacity of the eating house is 50 or more
- Undertaking regarding the installation of CCTV Cameras with 30 days recording facility
- Photocopy of valid NDMC/MCD/DCB/Airport Authority of India Trade license and fee receipt
- Document(s) to prove the legal occupancy of the place of Eating House and in case of tenancy, NOC from the landlord
Benefits of MSME / SSI Registration
- Cheaper bank loans: The rate of interest on loan offered to MSMEs is 1-1.5% lower compared to typical business loan interest.
- Easy access to credit: PM Modi has introduced the Mudhra Loan scheme, which provides loans to MSME / SSI without collaterals.
- Quicker approvals from state and central government bodies: Business registered under MSME are given higher preference in terms of government license and certification..
- Tax rebates: MSME / SSI registered businesses enjoy multiple income taxes and capital gains tax subsidies from the government.
- Cheaper infrastructure: Charges are lower for MSME registered company for facilities such as electricity and VAT exemptions. In fact, other business services such as patents are also cheaper for MSMEs.
- Access to tenders: There are multiple government tenders that are open only to MSMEs to promote small business participation in India..
What Are The Different Types of MSMEs?
Micro Enterprises
Micro-enterprises represent the smallest scale of businesses. For micro manufacturing enterprises, the investment in plant and machinery should not surpass Rs. 25 lakhs, while for microservice enterprises, the investment limit is capped at Rs. 10 lakhs.
Small Enterprises
In small manufacturing enterprises, the investment range for plant and machinery typically falls between Rs. 25 lakh and Rs. 5 crores. Meanwhile, for small service enterprises, this investment range is generally between Rs. 10 lakh and Rs. 2 crores.
Medium Enterprises
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