MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories.
Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support. Chatter and Co can help your business obtain MSME Registration to avail a host of benefits.
Criteria for applying for MSME Registration
In case of entities engaged in manufacturing or production of goods
Any entity wherein the investment in plant and machinery does not exceed rupees twenty five lakhs.
Any entity wherein the investment in plant and machinery does not exceed rupees five crores but also more than rupees twenty five lakhs.
Any entity wherein the investment in plant and machinery does not exceed rupees ten crores but also more than rupees five crores.
Any entity wherein the investment in equipment does not exceed rupees ten lakhs.
Any entity wherein the investment in equipment does not exceed rupees two crores but also more than rupees ten lakhs.
Any entity wherein the investment in equipment does not exceed rupees five crores but also more than rupees two crores.