All micro, medium, and small industries involved in the manufacturing, wholesale, and service industries are suitable for registration below MSME. The funding in plant and machinery shall be less than 50 crores and annual turnover shall be less than 250 crores.
No, the registration of MSME is not compulsory but the industry that registered itself is exposed to many benefits like financial support.
Yes, Aadhar Card is mandatory for an enterprise to be registered under MSME.
Few days after getting registered enterprises also get an MSME registration certificate which is also called Udyam Registration Certificate. The tenure of the MSME registration certificate is of a lifetime.
Companies registered under MSME get the benefit of availing bank loans at a lower rate of interest. This rate is always much below the regular loans provided to the public. Thus, it is highly beneficial for small-scale enterprises, and in this way, it can encourage you to take a Bank Loan.
The validity of an MSME certificate is Lifetime.
No separate registration certificates for manufacturing plants in different cities is not required. A single registration certificate is valid for all units or branches.
Yes, wholesale and retail traders can also apply for MSME. In the beginning, only the manufacturing and service sector was allowed to apply but from July 2021 the government also included traders under the MSME scheme.