SSI Registration or Small Scale Industry Registration is a registration from the Ministry of Micro, Small and Medium Enterprises. Once a business obtains SSI registration, the business becomes eligible for a number of schemes and subsidies promoted by the Government to boost small businesses in India. In this article, we look at the process for obtaining SSI registration online or offline.
SSI Registration or Small Scale Industry Registration or Small Business Registration are all the same as MSME Registration in India. SSI Registration is provided by the Ministry of Micro, Small and Medium Enterprises through the Directorate of Industries of the State Government. The main purpose of for SSI registration is to maintain statistics and a roll of SSI businesses in India for the purposes of providing incentives and support services.
Each of the State Government has adopted the uniform registration procedures as per the MSME guidelines. However, some States have made modifications to the procedures for obtaining SSI Registration. Therefore, the procedure for obtaining registration would vary from State to State.
MSME Registration is an optional Registration under the MSMED Act that provides Micro, Small and Medium sized enterprises with a host of benefits and access to subsidies and schemes.
To be classified as a MSME, Enterprises in the Manufacturing sector need to have less than Rs.10 crores of investment in plant & machinery; service Enterprises must have an investment of less than Rs.5 crores of investment in plant & machinery.
A Micro Enterprise in the manufacturing sector is an enterprise with less than Rs. 25 lakhs of investment in plant & machinery. A Micro Enterprise in the service sector is an enterprise with less than Rs. 10 lakhs of investment in plant & machinery.
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A. Any entrepreneur having valid Aadhaar Number can apply for MSME Registration Online.
A. After filing online msme application form, MSME Registration Certificate will be issued immediately at email.
A. Credit rating is not mandatory but it is in the interest of the MSE borrowers to get their credit rating done as it would help in credit pricing that is cost of funds (interest and other charges etc.) of the loans taken by them from banks.
A. Due to the increasing enthusiasm among too many entrepreneurs who wish to incorporate their companies, the MCA has made stringent rules to approve the company name and issue the certificate of incorporation. Further, due to excessive demand, the PAN and TAN applications are also increasing and
A. he capital structure of a private limited company can easily accommodate equity funding. So Venture Capitalists prefer pvt. Ltd. over any other structure Being a regulations compliant entity, it becomes easy to attract capital infusion from financial institutions like banks, NBFCs etc.