If you are owner of a Small-scale business or a going to start a Small-scale business then you must read today’s article as we are going to discuss about Small Scale industries registration or in short SSI Registration. In this article we will discuss benefits and process of Getting SSI Registration in India.
How To Get SSI Registration?
Ministry of Micro, small and medium enterprises have made it voluntary in India that all micro, small and medium enterprises to get SSI registration But small-scale businesses should get its SSI registration done so that a small-scale business can take advantages of schemes and subsidies that are given by the government for the betterment of small business owners. As In India Small scale industries have a size of total 1,05,21,190 and It contributes to more than 37% in India’s GDP.Not only that Small Scale industries are very important for the better development of India.Small Scale Industries generates more employment, Facilitates Women Growth, Brings Balanced Regional Development, Helpful in the mobilization of Local Resources, Promotes Export and it meets Consumer Demands etc. The Main purpose of SSI registration in India is to provide incentives and support services to Small scale Industries in India.
Eligibility Criteria For SSI Registration In India.
Small Scale Industry registration can be obtained by Small Scale Businesses if the investment in plant and machinery (excluding land & buildings) is Rs.5 crores in plant and machinery.
It can be obtained by Small Scale service units if the investment in equipment (excluding land & buildings) is within Rs.2 crores in equipment.
Objective of Small Scale Industries Registration
1) To enumerate and maintain small industries for the Financial and Overall development of India
2) To provide a certificate that will enable Small Scale Businesses to avail all benefits provide by Ministry of Micro, Small and Medium Scale Industries.
3) To Aid in Collection Of Statistics.
4) To Establish Nodal Centres at the National, State and District levels to promote welfare of Small Scale Industries.
Benefits of Obtaining SSI Registration
Benefits Of obtaining Small Scale Industry Registration are as follows:
1) It Provides Statutory Support for Small Scale Businesses.
2) It Provides Exemption under direct tax laws.
3) It Provides Reduction in Interest Rates on bank loans.
4) It Provides Sales Tax Exemptions.
5) It Provides Priority sector lending in banks
How to get Online SSI Registration in India?
Step 1: Provisional SSI Registration
To Get SSI(Small Scale Industry) registration Done, the Small Scale Business must apply for Provisional SSI Registration Certificate (PRC). Once The Provisional Registration Certificate is given then only the unit is in a pre-operative period and SSI unit can obtain term loans and working capital from financial institutions/banks under priority sector lending. In addition to That, the provisional SSI registration certificate also helps the business obtain facilities for accommodation, land, other approvals etc. and obtain necessary NOCs and clearances from regulatory bodies such as Pollution Control Board, Labour Regulations etc. Provisional SSI registration can be applied for by a business at any period of time and the industrial license is not required for this purpose. Provisional SSI registrations are valid for five years and if the entrepreneur is not able to set up the business in this period, a fresh application for provisional registration can be submitted at the end of five years.
Step 2: Start the Business
After obtaining Provisional SSI Registration, A Firm can commence the business Operations with the provisional SSI registration certificate.
Step 3: Permanent SSI Registration
Once the business commences Business activities, It can apply and obtain permanent SSI registration. Permanent registration will be provided only when all the conditions are satisfied that is :
1.The SSI Unit has obtained all necessary clearances from all authorities and Departments.
2.The SSI Unit does not violate any restrictions in force.
3.The value of plant and machinery owned by SSI unit is within prescribed limits.
4.The SSI Unit is not owned and controlled by any other industrial undertaking as per notification.
Online SSI Registration in India
If you have any further query and want help in getting registration done for your small-scale business. You can seek the help of myonlineca experts. Our experts will provide you best Solutions and quality services regarding SSI(Small Scale Industries) Registration in anywhere in India.