MSME Registration is a process in which a business is officially recognized as a Micro, Small, or Medium Enterprise under the MSME Development Act, 2006. It provides access to government schemes, financial aid, tax benefits, and more.
MSME registration helps your business gain access to government schemes, subsidies, easier access to credit, tax exemptions, and enhanced credibility in the market.
The eligibility is based on the turnover and investment of the business. A micro enterprise has a turnover up to ₹5 crore, a small enterprise has a turnover up to ₹50 crore, and a medium enterprise has a turnover up to ₹250 crore.
Required documents include Aadhaar card of the applicant, PAN card, business address proof, bank account details, business incorporation certificate, and employee details.
MSME registration is valid for the lifetime of the business unless there is a change in the business structure or its classification (from micro to small, or small to medium).