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A Ray Of Hope Reaches The Small Scale Enterprises.
Let us first look into some practical issues that are confronted by many entrepreneurs in running their respective businesses. This article is an attempt to address the major concerns and learn how to turn around the situation to one’s favor.
Today, India is on the threshold of a new economic revolution. Connectivity and access to resources have become an easy affair. Fortunately, the different schemes taken by the Government of India are far encouraging to the start ups and MSME (micro, small and medium enterprises) sector.
One must positively plunge into these new pathways to find solutions that are smart and sustainable for the projects. To reap benefits from the various incentives provided under MSMED (Micro, Small and Medium Enterprises Development Act, 2006) primarily one needs to identify the status and type of the enterprise.
The following slabs have been prescribed under the MSMED Act to determine the different classes of the units or projects:
S.No. Type of Enterprise Manufacturing Enterprises (Investment in Plant and Machinery) Service Industry (Investment in equipment)
1 Micro Does not exceed Rs. 25 Lakh Does not exceed Rs. 10 Lakh
2 Small Exceeds Rs. 25 Lakh but does not exceed Rs. 5 Crore Exceeds Rs. 10 Lakh but does not exceed Rs. 2 Crore
3 Medium Exceeds Rs. 5 Crore but does not exceed Rs. 10 Crore Exceeds Rs. 2 Crore but does not exceed Rs. 5 Crore
The next step after determining the category is to register as a SSI unit under MSMED. Enterprises avail immense benefits, incentives and support rendered either by the Central or the respective State Government.
1. How to register under MSMED? Can a private limited company or a proprietary concern or a service oriented entity, or a partnership firm be enrolled as a SSI unit?
Positively, all the following entities are eligible to get registered:
• Hindu undivided family
• Association of persons
• Co-operative society
• Partnership firm
• Limited liability partnership firm
• Company or an Undertaking
Any entity pertaining to manufacture or service sector can apply for the registration and get qualified to receive benefits provided under the Act. A Medium enterprise engaged in the manufacture or production of goods or provision of services has to compulsorily enroll under the MSMED Act, whereas for the other enterprises the registration is discretionary or optional. Management Software for CA
SSI Registration or Small Business Registration is all the same as MSME Registration in India. It is basically provided by the Ministry of Micro, Small and Medium Enterprises routed through the Commissioner of Industries of the respective State Governments, under whom the District Industries Centre is authorized to grant the Registration certificate. Uniform registration procedures followed all over the country however, some States have made certain modifications to obtain the recognition. The following are the three steps, which remain common to all regions:
Step 1: Obtain Provisional SSI Registration
Step 2: Start the Business
Start the business activity or production with the provisional SSI registration certificate.
Step 3: Acquire Permanent SSI Registration
After the commencement of production or activity, one can apply for and receive permanent SSI registration. But a Permanent SSI registration will be granted only if the following conditions are satisfied by the SSI unit:
i) The unit has obtained all necessary clearances whether statutory or administrative.
ii) The unit does not violate any restrictions formulated under various Regulatory bodies.
iii) The value of plant and machinery is within the prescribed limits.
iv) The unit is not owned, controlled or a subsidiary of any other industrial undertaking as per the notification.
Note: Online SSI Registration can be obtained through http://udyogaadhaar.gov.in/ mostly in 10 to 20 days, subject to State Government processing time. For more details please visit the above mentioned website.
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