SSI registration is registering the small-scale industry under the registry of mini, micro, and small enterprises.
SSI registration is not a compulsory or mandatory procedure for all small-scale industries, however it comes in handy with multiple subsidiaries, and government projects register under SSI enterprises.
The SSI-registered firms and companies enjoy a variety of extra perks offered by the state and central government.
The government offers several benefits to the registered enterprise, which includes:
Reduction in the bank rates in comparison to unregistered enterprises. Especially in terms of bank loan interest rates. (There is a good margin offered to the SSI registered companies.)
Easy to access credit from different sources. The SSI-registered companies get more outstanding goodwill in the market. Which later helps the industry in receiving the credit goods and materials from a variety of places.
Like filling any other form, specific requirements and eligibility criteria should be followed while registering for the SSI enterprises.
One of the significant filling components for small-scale industry enterprises depends on the amount of capital introduced and valued by the given enterprises. The capital requirement for different industries in India is as follows:
(Capital is the money introduced or bought by the entrepreneur/owner in the business enterprises. )
The micro-industry includes the enterprise with investment and plant up to rupees 25 lakhs and rupees 10 lakhs in equipment.
The micro-industry includes the enterprise with investment and plant up to rupees 5 crores and rupees 2 crores in equipment.
the micro-industry includes the enterprise with investment and plant up to rupees 10 crore and rupees 5 crores in equipment.
Step by step process of online SSI registration in India
In India, the process of SSI registration differs from state to state due to different policies and rules followed under different supervisions; below, we have briefly explained the process of SSI registration via an online portal.
The SSI registration involves the following steps as mentioned below:
The newly established and in the beginning year of the established companies are rendered provisional SSI registration. The permanent SSI certificate is provided after the actual activities and business procurement in the industry. Nonetheless, the pre-established working companies can directly acquire the permanent SSI certificate without further moving with provisional registration.
Provisional SSI registration also helps the business obtain the required facilities within their reach and special privileges.
After acquiring the provisional registration certificate, the industry can utilize various benefits availed by the government and operate the general functioning of the business. Here the industry must work under the government guidelines and not indulge in any illegal activity. The type of industry can be changed over the period and should be rectified in the nearest SSI registrar’s office. The daily business activities take place for up to 5 years, where the newly established companies can now apply for permanent SSI registration after the withdrawal of provisional SSI registration.
An industry can apply for permanent SSI registration after successfully running the business operation for over five years.
Visit the official website to fill out the SSI registration application and fill in the correct information in the selected required fields. Generate an OTP after filling up the required fields for the verifications and submission of the application.
Later successful verification of the OTP, the page will get you to the registration page, fill in the specified filled correctly, and apply for verification. (Before submitting the application, review the whole application carefully)
The following items are required for SSI registration
