Who Can Apply For MSME Registration in India


Who Can Apply For MSME Registration in India

 "Call Our Business Plan Experts at +91-72999-72500"

The government has formulated a set of parameters to determine whether an enterprise qualifies for MSME registration. The eligibility criteria are based on investment limits, turnover and capacity to scale up. The MSME Act, which was enacted in 2006, classifies enterprises as micro, small or medium and provides several monetary and non-monetary benefits for businesses registered under the act.

Any manufacturing or service-oriented business can apply for MSME registration Consultant in Chennai. This includes enterprises run as sole proprietorships, entities managed by Hindu Undivided Families (HUF), partnership firms, public limited companies, private limited companies and one-person companies. However, it is important to note that an enterprise must invest less than Rs 1 crore to qualify as a micro enterprise. It must invest up to Rs 5 crore to qualify as a small enterprise, and it must invest more than Rs 10 crore to qualify as a medium-sized enterprise.

Besides enabling easy access to loans, MSME registration also offers tax-exemptions and other incentives. The MSME registration process is simple and quick, and there are multiple online options to help entrepreneurs with it. The key documents to submit during the MSME registration process include PAN card, location of the enterprise, a bank account number with IFSC code, and basic details about your business.

With these essentials in place, you can start your MSME/Udyog Aadhaar registration process with ease. At Bajaj Finserv, we provide MSME loans to help you meet your business requirements with minimal documentation and a convenient online process. For more information about our MSME loans, visit our learning center or get in touch with our expert team.

 

Tel:+917299972500

info@filingpoint.com

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