MSME Registration

MSME Registration

The Limited Liability Partnership (LLP) is a registered company under the LLP Act, 2008.

Get In Touch

OVERVIEW

MSME stands for Micro, Small and Medium Enterprises. Industries are the backbone of the Indian economy. The MSME sector contributes to 43% of India’s Total Industrial Employment, 49% of India’s Total Exports and 87 % of all industrial units of the country and more than 5000 types of products are manufactured in these industries. When these industries grow, the economy of the country grows as a whole. These industries are also known as small-scale industries.

Even for manufacturers and service providers, registrations can be obtained through the MSME act. This registration is not yet made mandatory by the Government, but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans, etc.

MSME registration

 

DOCUMENTS REQUIRED FOR MSME REGISTRATION

Address

Business Address Proof

form 16

Copies of Sale Bill and Purchase Bill

download logo

Partnership Deed/ MOA and AOA

logos

Copy of Licenses and Bills of Machinery Purchased

Registration Process

1. To register the small and medium scale industry owner has to fill a single form which he can do online as well as offline.

2. If a person wants to register for more than one industry, then also he/she can do individual registration.

3. To register, he/she has to fill a single form which is available on the website which is listed below.

4. The details required for the registration are Personal Aadhar number, Industry name, Address, bank account details, and some common information.

5. In this, the person can provide self-attested certificates.

6. There are no registration fees required for this process.

7. Once the details are are-filled and uploaded, you would be getting the registration number.

   

 

FREQUENTLY ASKED QUESTIONS

Only one person is required to start a Proprietorship, and a Proprietorship can have only one promoter.
The Proprietor must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.
PAN Card for the Proprietor along with identity and address proof is sufficient to start a Proprietorship and obtain other registration, as applicable or required.
There is no limit on the minimum capital for starting a Proprietorship. Therefore, a Proprietorship can be started with any amount of minimum capital.
PMSPL Associate will understand your business requirements and help you start a Proprietorship by obtaining the relevant registrations. PMSPL will help obtain the necessary registrations to help the Proprietor open a bank account in the name of the business, thereby proving an identity for the business.
No, the Proprietorship firm and the proprietors are the same. The PAN Card of the Proprietor will be the PAN Card of the Proprietorship business. Therefore, there will be no separate legal identity for the business. The assets and liabilities of the Proprietorship business and the Proprietor will also be the same.
Proprietorship firms do not have a Certificate of Incorporation or Certificate of Registration. The identity and legitimacy of a Proprietorship firm are established by registering with the relevant or applicable Government authorities.
There is no registry or regulation for the registering the name of a Proprietorship. Therefore, proprietorship firms can adopt any name that does not infringe on registered trademarks. Since there are no registry or regulation for registering the name of a Proprietorship, the only way to ensure exclusive use of the business name is to obtain a trademark registration of the business name.
Proprietorship will have to file their annual tax return with the Income Tax Department. Other tax filings like service tax filing or VAT/CST filing may be necessary from time to time, based on the business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.
Yes, there are procedures for converting your Proprietorship business into a Company or an LLP at a later date. However, the procedures to convert a proprietorship business into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start an LLP or Company instead of a Proprietorship.
 

Call Now ButtonCall Now