MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. When these industries grow, the economy of the country grows as a whole and flourishes. These industries are also known as small-scale industries or SSI’s.
Even if the Company is in the manufacturing line or the service line, registrations for both these areas can be obtained through the MSME act.
How to register with the MSMED Act?
MSME registration is a simple process. You have to visit the scheme’s. When there, follow the instructions you see on the screen. Choose your category and do as per the instructions. Any venture that falls in the MSME category is eligible to register here. And the only document required here is your Aadhar card. You also need to upload your PAN and GST details on your investment and turnover. The portal will gather all other details from the database of the Government.