Small Business India
Registration of a small business in India is voluntary not compulsory. If a small business gets registration will reap the complete legal benefits; it will be easy for the business to claim against any of the infringement or maltreat or misuse acts. There are varied benefits being available by the Central or State Governments for small scale businesses in India but only for those who will get registration under the same act. Some of the benefits including ISO-9000 certification reimbursement, credit guarantee scheme, exemptions under tax laws, reduced customs duty, priority sector lending, power tariff subsidies, capital subsidy and many more.
In India; the small business is being registered under the State Directorate or Commissioner of Industries or District Industries Centres that further categorize into two parts product specific and location specific. There is a rule for small scale units in state capitals and major cities of India that registration is only offer to those small scale businesses that are situated under the premises of designated industrial areas / estates.
How to Register Your Small Business
First the certificate of provisional registration is to be granted to the proposed small business that is issue for the specific period of time where the proposed businesses need to establish their physical existence under that mentioned time period. This Provisional Registration Certificate PRC will favor the small businesses to apply for loans or working capital for any of the reputed financial institute; will issue no objection certificates, facilities for land, accommodation and other approvals including labor regulations, pollution control board and many more.
After the proposed small business comes into existence and start commercial productions and after physical inspection by the concern authority; the certificate of permanent registration is being issued to the small business in India.
- No issue certificate from Municipal Corporation.
- Clearance from state pollution control board.
- Clearance from electricity board.
- Tenancy or ownership rights of the land where business is established.
- Copy of partnership deed in case of partnership business.
- Copy of other legal documents MOA / AOA in case of rpivate business.
- Sale bill of each product being manufactured by the small business in India.
- Purchase bill of each segment of raw material and machinery installed.
- An affidavit as a proof of existence of small business in India including power requirement, machinery installed and lots more.
