Corpstore can help your business to obtain MSME Registration in Coimbatore to avail a host of benefits. The MSME can be obtained for both services and manufacturing sectors under the MSMED Act. The MSME stands for micro, small and medium enterprises. The enterprise falls under this category.
The MSME industries are the backbone of the Indian economy. 45% of India’s total Industrial employment comes under MSME. India’s total export’s 50%, industrial unites 95% all are comes as the result of MSME. These enterprises can act as the engine of the economic growth.
To promote the MSME the Indian government supports various schemes, incentives etc through the MSMED Act. The MSME is required to attain the benefits under MSMED Act from central or state government. These schemes are really helpful for taxation, start-up business, credit facilities, loans etc.
Documents required for MSME Registration
The documents include all sales and purchase bill, address proof of the business premises, regulatory body’s license.
- The person who is registering the MSME should submit his Adhaar Card Number and PAN number. If the company is a partnership then at least one of the partners has to submit the Adhaar and the PAN.
- The company’s partnership agreement, registration certificate etc have to submit in case of partnership firm.
- If the registration is completed then the copy of the memorandum and article of association is mandatory.
- The registration certificates of the company are needed.
- The amount of investment has to save for the plant and machinery.
Benefits of MSME Registration
- The loans of the banks become very cheaper as the interest rate is very low around 1.5%. It is very less compared to other loans.
- Tax refunds also available for MSME.
- The credit for minimum alternate tax may carry forward to 15 years instead of 10 years.
- The government tenders are applicable to MSME.