Online Udyog Aadhar (SSI/ MSME) Registration - An Overview
An SSI also called Small Scale Industry Registration is a registration from the Ministry of Micro, Small and Medium Enterprises. When a business registers as SSI it becomes eligible to avail Government schemes and subsidies that are exclusive for small businesses..
Legal Registration offers expert service for MSME registration:
- Free consultation
- Data verification: A thorough check of all the files submitted
- Vendor Connect: A dedicated affiliate who processes the SSI online application
- Receipt of License: The certificate will be issued within 15 days of application
MSME registration can be done by enterprises of sizes:
- Micro
- Small
- Medium
Under the MSMED Act, these small businesses get varying incentives such as:
- Priority sector lending
- Tax exemptions
- Capital investment
Registering for MSME is an entire online process but seeking the help of professionals makes it more easy. Legal Registration assists you with the online application and gets the required approval from the department.
What is SSI/MSME Registration?
Small scale industries play a vital role in the socio-economic development of India. To promote and encourage these small-scale industries, the government of the country created the MSMED Act. The Act was created to maintain a list of all the industries registered as MSME or SSI. The record aided in providing support and incentives to these firms. Furthermore, SSI helped in employment of people at little capital investments.
The MSMED Act includes:
- Small Scale Industries (SSI)
- Micro, Small and Medium Enterprises (MSME)
- Different sectors have different limits for registering under the act.
- A manufacturing enterprise with plants and machinery that required an investment of below 10 Crores can be an MSME.
- For service enterprises, the amount caps at five crores.
- If the company exceeds the upper limit, at any point in the future, it is not considered as an MSME.
To avail the numerous benefits from the Government of India, an SSI registration certificate is needed. It is an optional registration but the companies that get registered are eligible for:
- Lesser interest rates
- Excise exemption scheme
- Subsidies in tax, capital investment and power tariff
- Other support