Small Scale Industries registration comes under MSME Act. SSI registration is not mandatory, but there are privileges and advantages for running a business. These privileges include sanctioning loan, tax exemption, from the bank. If a manufacturing company having investment less than 10 crore and service oriented company investment less than 5 crore can register under MSME. If, at any time, cross the limit fixed by the MSME will cause to disqualify as small scale industry category.
SSI means Micro, Small and Medium Enterprises. SSI registered company is eligible for a number of schemes and subsidies under the Government to support and encourage small scale companies in India. SSI Registration is under the MSME department of the State Government. State governments have the power to sanction schemes and approval of subsidiaries for small scale industries. SSI procedures will vary from state to state. The eligibility criteria for manufacturing units to register SSI are as follows:
There are two forms to register SSI one is EM Part I and another one is EM Part II. The entrepreneur Memorandum is valid only getting acknowledgement from the department. Central and state government given some schemes and support to SSI units like: