MSME REGISTRATION BANGALORE

MSME is the acronym for Micro, Small and Medium Enterprises and any enterprise falling under these three categories is regarded as an MSME enterprise. Such enterprises are regarded as the backbone of any economy because such industries can help in economic growth and even promote equitable development. Both manufacturing and service providing enterprises can obtain MSME registration. To encourage and promote MSMEs, the Government of India has introduced many schemes and incentives through the MSMED Act of 2006. However, to avail the benefits of MSMED Act, the enterprises have to complete the MSME Registration, which is mandatory.

MSME registration is a very simple process that you need to complete and if you find it to be a daunting task, we are here for your assistance. Those who are looking for MSME Registration in Bangalore can seek our assistance as we are skilled in this process and can help in every aspect.

Getting MSME registration in bangalore will ensure that you get benefits like subsidies and loans. MSMEs are classified into two categories. The first category is the manufacturing enterprise engaged in the manufacturing and production of goods. Second category is the service enterprise, who work towards providing or rendering services. The MSME registration is not statutory, but it is quite beneficial for the business and some of these benefits include:

  • Eligibility for lower rates of interest
  • Excise exemption scheme
  • Tax subsidies
  • Power tariff subsidies
  • Capital investment subsidies
  • CollateralFree loans from banks
  • Reimbursement of ISO certificate expenses.
  • You can easily get licenses and registrations for your business
  • You become eligible for IPS subsidy
  • You get exempted in stamp duty payment.
  • You just need to pay a 50% subsidy for patent registration.
  • You become eligible for capital subsidy
Entities Eligible for MSME Registration in Bangalore

There are different entities that are eligible for MSME registration and the list is as follows
Categorizing based on capital invested in the plant as well as machinery-manufacturing companies are eligible for MSME registration.

Checklist for MSME registration for enterprises:
  • Micro Enterprises who invest less than ₹ 25 lakhs in plant and machinery are eligible for MSME registration
  • Small enterprises who invest between ₹ 25 lakhs and ₹ 5 crores in plant and machinery are eligible for MSME registration
  • Medium enterprises who invest between ₹ 5 crores and ₹ 10 crores are qualified for MSME registration
On the contrary to manufacturing sectors, MSME enterprises in the service sector can also become eligible for MSME registration. The eligibility depends on the amount invested in the equipment and the criteria is mentioned below:
  • Falling under the Micro enterprises, entities those invest less than ₹ 10 lakhs are qualified for MSME registration
  • Small enterprises who invest more than ₹ 10 lakhs but less than ₹ 2 crores are also eligible for MSME registration
  • There are medium enterprises as well who are eligible for MSME registration but the investment should be higher than ₹ 2 crores but less than ₹ 5 crores
On the contrary to manufacturing sectors, MSME enterprises in the service sector can also become eligible for MSME registration. The eligibility depends on the amount invested in the equipment and the criteria is mentioned below:
  • Falling under the Micro enterprises, entities those invest less than ₹ 10 lakhs are qualified for MSME registration
  • Small enterprises who invest more than ₹ 10 lakhs but less than ₹ 2 crores are also eligible for MSME registration
  • There are medium enterprises as well who are eligible for MSME registration but the investment should be higher than ₹ 2 crores but less than ₹ 5 crores
Is Doing MSME Registration Mandatory for Entities?

No, it is voluntary, but entities register because they can avail benefits and subsidies from the government from time to time.

How 31st March Can Help with MSME Registration?

We, 31st March can help your business obtain MSME Registration so that you can avail a host of benefits. We follow the following step to assist you with MSME registration is as follows

  • Step 1: You need to fill a form stating all your basic information, which is required for filing your application
  • Step 2: As per the details provided by you, we will prepare documents and draft it within the agreed time frame.
  • Step 3: We fill the MSME Application and submit the required documents to the MSME registrar.
  • Step 4: Finally, after completing the process and on receipt from the department, we will send you the MSME certificate through email and courier.