MSME-SSI

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Presentation Description

MSME registration certifies any business entity to classify them as Micro, Small or Medium Enterprise depending upon their Investment. Government have different schemes and tax benefits for each type of classification. To avail the benefits MSME Certification is Mandatory. For MSME registration enterprise must enrol their name under The Micro, Small & Medium Enterprises Development Act, 2006 The act has divided the enterprise into two categories depending on: • Enterprises engaged in the manufacture or production, processing or preservation of goods. • Enterprises engaged in providing or rendering of services. The enterprises are further sub- divided into Micro, Small and Medium by their investment in plant and machinery

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Presentation Transcript

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Micro, Small And Medium Enterprises / Small Scale Industry

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MSME/SSI is only applicable on those enterprises which deals in Manufacturing and Service sector INTRODUCTION TO MSME/SSI Easy Bank Loans Easy access to bank loans schemes and cheaper credit/overdraft facilities Tax Benefits Tax benefits in Indirect Taxation like Excise, Service. Upto 90 Lakhs exemption in some cases. Smooth Fund flow Procurer is legally obliged to pay dues within agreed date or 45 days. Government Schemes Under schemes like CGTMSE, Mudra Loan, loan upto 5 crore with the govt. guarantee can be raised. Reservation in Delayed Payment Act It assist MSME certificate holders to avoid penalties Exemption Applicants can avail exemption on their turnover if they fall under Small Scale

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REQUIREMENTS FOR MSME/SSI The MSME Act has divided the enterprise into two categories depending on: Enterprises engaged in the manufacture or production, processing or preservation of goods. Enterprises engaged in providing or rendering of services. The Enterprises are further sub-divided into Micro, Small and Medium by their investment in plant and machinery. Micro Small Medium Manufacturing Service 10 lakhs 2 Crores 5 Crores 25 lakhs 5 Crores 10 Crores

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DOCUMENTS REQUIRED Following documents are required for MSME/SSI Registration Utility Bills or Rent Agreement or Registry Proof or House Tax Receipt Registered Office in India PAN Card Aadhar Card PAN Card Cancelled Cheque in India Cancelled Cheque

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MSME/SSI COST BREAKWDOWN Break down includes all Govt. Fees + Taxes Government Fees Professional Fees Goods & Services Tax Total Cost Rs 0 Rs 1,694 Rs 305 Rs 1,999

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MSME/SSI Tax Compliance Timeline If Previous year turnover is less than or equals to 4 Crore If Previous year turnover is more than 4 Crore Other than SSI unit in Current Year SSI units in the Current Year Option 2 Option 1 Not Avail Exemption Avail Exemption No Excise duty and Cenvat credit upto 1.5 Crore Pay Excise duty>1.5 Crore & Avail Cenvat credit Pay Excise duty on the whole amount and avail CC from the Beginning

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REGISTRATION TIME MSME/SSI registration takes 1-2 working days in India 2 Working Hours Documents Verification 2 Working Hour Aadhaar Verification 1-2 Working Hour Dispatch Of Certificate 1 Working Hours Days Udyog Aadhaar Generation

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FREQUENTLY ASKED QUESTIONS How does MSME Registration help in getting loans from the bank? MSME Certified enterprises are granted loan, credit and overdraft at subsidized rates compared to other enterprises. Is Udyog Aadhaar Number Mandatory For Online MSME Registration? Yes, Udyog Aadhaar is Mandatory for applying MSME Certification. Who Can Apply For MSME or SSI Registration? Any entrepreneur having valid Aadhaar Number can apply for MSME Registration.

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info@quickcompany.in 011-395-95858 www.quickcompany.in CONTACT INFORMATION

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