What is MSME Registration?
MSME meaning Micro Small and Medium Enterprises as defined under MSME development Act 2006.
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What is MSME Registration?

There are small and medium enterprises which fall under MSME category. MSME stands for Micro, Small and Medium Enterprises. Being the backbone of an economic sector, MSME enterprises act as an engine which helps in the growth of the economy and promoting equitable development. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. 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 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 5 crores.

☞ And in near future, if your enterprise exceeds the maximum limit, then it will not sum up as MSME.
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There are 3 types of MSME or SSIs which can be classified as under:

☞ Micro Enterprises: Micro-enterprises are the smallest entities, of course. The investment under Micro manufacturing enterprises should be less than Rs. 25 lakhs in plant and machinery, whereas, the microservice enterprises should not exceed Rs. 10 lakh investment.
☞ Small Enterprises: In small manufacturing enterprises, the investment should be in between Rs. 25 lakh and Rs. 5 crores in plant and machinery, while in small service enterprises this investment limits between Rs. 10 lakh and Rs. 2 crores.

☞ Medium Enterprises: And if we’ll talk about the Medium manufacturing enterprises, then the investment should be in between Rs. 5 crore and Rs. 10 crores in plant and machinery, and for small service enterprises it should be in between Rs. 2 crore and Rs. 5 crores.