About Section 8 Company :
Section 8 Company or a Non-Profit organization (NPO) is a Company established for promoting commerce, art, science, religion, sports, education, research activities, charity or any other useful social object, provided the profits and donations is applied for promoting only the objects of the company and no dividend is paid to its members or owners.
Benefits of MSME
Easy Bank Loans – All the business which are registered under the MSME can avail the benefits regarding the bank loans. Banks are provide the collateral free loans where your property is not pledge with the Banks. Govt and SIDBI both create a separate legal entity which work to implement this scheme on the all small and medium business enterprises.
Reservation Benefits – Government also amend the industrial act where every small business which are registered under the MSME can avail the this scheme where you can increase your production of the goods and employment opportunities in the country.
Easy to open business bank account or any other license registration – MSME Registration Certificate treat as legal entity proof of the business so you can easily open a current bank account or mentioned your registration while making another license like GST Registration etc.
Participate in the International Trade Fairs – All the small business have to expand their business across the India or on international level which is required to exposure and support from the government. Govts provide benefits to participate and special consideration in the international and national trade fairs which is organised by the MSME Department.
Octroi Benefits under MSME :- Small enterprise have to pay the octroi on the goods and services which is delivered by them so its increase the unnecessary cost sometime. In this scheme govt provides the refund of the octroi which is imposed on the goods and services.
Stamp Duty and Registration Charges Waived off – Previously all the enterprise which are expand their business in the IT Park or SEZ they avail the benefits under the Stamp Act but now all the small enterprise also can avail these benefits.
Exemption under the Income Tax as Direct tax – All the small business which are doing some really innovative or towards the society improvement then they can take the benefits of the income tax in the initial years. even under the startup india scheme same benefits are introduce by the government.
Document Required for Registration
- PAN Card
Any one of these
- Aadhar Card
- Votar ID
- Driving License
- Bank Statement
- Electricity/ Gas bill or Phone/ Mobile bill
Passport Size Photo
- Passport Size Photo
- NOC from the Owner
- Utility Bills with
Any one of these
- Rent Agreement
- House Tax Receipt
- Proof of Registry
First you should apply for provisional registration at an initial stage of the business. Then after assigning you the Provisional MSME Certificate and you can begin with your production and even apply for a Permanent Certificate which will add more advantages for you. The MSME registration provides you lots of benefits under MSME Act
If your business or enterprise is listed under Schedule –III of Industrial Licensing Exemption Notification, then you can easily apply for PRC without an industrial license. Other units must first acquire an industrial license. All the clearances should be obtained by enterprise whether it be statutory or administrative. For example, a drug license under the drug control order, if required. The PRC is issued based on the application form. No field enquiry is made.
The validation of a PRC is for 5 years and if the unit is still not under operational then you may still re-apply for it. As soon as you start with your operations, you can easily apply for the Permanent License.
There are many benefits of MSME registration like for the various state government prefers enterprises which are registered under MSMED Act for the Subsidy such as on power, taxes, and much more support from there side. The enterprise may also relish excise exemption scheme and exemption from certain direct taxes in the initial years of your business.
Munshijee provides MSME application services across India in all cities. We are providing our service in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.