MSME Registration in India: Procedure, Documents & Benefits
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The MSME registration can easily be done sitting at the comfort of your house through the various online platforms that have been provided for the registration. All you need to do is know the simple steps for the procedure and you can easily get MSME registered. Documents needed for the MSME loan process The MSME loan process is a legal form and it involves a lot of identification without which you will not be eligible to acquire an MSME loan.

Important Documents for MSME Loan

The documents required to acquire an MSME loan are as mentioned below:
  • Your Aadhar number and your Aadhar card for the Udyog aadhar process.
  • All the necessary details of the applicant like name, gender, PAN card email id, and other such details.
  • Location and pan registration of the company.
  • Your bank account number and the valid IFSC code.
  • Your 2 digit NIC code
  • Any investment made in the future equipment for your company.
  • All the copies of sales bills and purchase bills made by you in the past.

Step by Step Registration Process of MSME

Mentioned below is the step by step process to get MSME registered:
  • Go to the site that allows the registration of MSME online and begin the process by clicking on the start button. As soon as you click on the start button, your registration process begins and a form will appear on your screen for registering yourself.
  • As the registration process begins, a form will appear on the screen wherein you will have to put in all your basic details that will be required for the procedure like your company name. Registration number and other such important details so that they can verify your identity and begin your process of MSME registration.
  • As soon as you submit the form where you had filled in all your basic details, you will be directed to a page where you will be provided with a form to fill in all your details starting from your address to your pan card number for KYC. you have to minutely fill in everything to make the registration valid and make sure that no column goes unfilled.
  • You have also required to upload a photo of yourself on the personal form. Make sure you check the valid size f the photo and upload a photo that goes with all the requirements.
  • Once you fill in all the details including the basics and the personal, your entire firm will be reviewed by an executive. If your form is all okay, you are good to go. If there is any problem with any details of your form, the executive will inform you about the discrepancy and you will be asked to correct it in your next attempt.
  • Once your form is approved by the executive, you will receive a certificate of mail. The certificate shall say that you have been registered for the MSME process. You will only have a soft copy of the certificate since there is no hard copy provided for the same.

Benefits of MSME registration

Several added benefits come along when you have registered your company for an MSME loan. It comes in very handy in the long run. Some of the benefits of MSME registration are as mentioned below:
  • If you have a new idea for a start-up and want to establish that as your business, the patent charge is most likely to cost you a lot of money. But if you have already registered your company for the MSME loan, the amount will be reduced to 50% of the actual amount.
  • If you have registered your company for an MSME loan and you take up a business loan for any of the proceedings of your company, you do not have to pay any collateral damage for the loan you take.
  • If you own a company that is not registered to MSME, you will only get partial technical resources for our company. Whereas if you have an MSME registered company, you will get all the updated technical resources for your company for the government keeps updating the data and keep it permitted only to the MSME registered companies.

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