Anyone who want to start a small shop anywhere in India they have required to register their shop name with the government of India. So they have 2 option to register their shop name –
a) Shop Registration under the MSME Act 2006
b) Shop Registration under Shop & Establishment Act from state respective municipal party.business and increasing the taxpayer base in India by including millions of small businesses.GST has been implemented in India from 1st July, 2017. Under the new GST regime, over 1.3 crore business in India have been registered and issued GST registration Tax complexities would be reduced due to the abolishing and subsuming of multiple taxes into a single, simple system.
Features or Benefits of the Shop Registration under the MSME Act 2006 ?
a) Legal Entity Proof – Each shop or business required a legal entity proof like proprietorship firm or partnership firm etc. Shop Registration under the msme act 2006 provide a legal entity proof which gives the right for doing the business in your area or state for the same.
b) Business Bank Account – Every banks is required a legal entity proof to open a current bank account. Each shop have to open a separate bank account for the daily transactions as per the RBI Compliance. so on the basis of the shop certificate you can easily open a current business bank account.
c) Government Benefits – Each state have a DIC Department which create the policy in the respective state for the all small business. On the basis of Shop License Registration Certificate you can easily avail the government benefits.
d) Trustworthy – Shopkeeper are trader or wholesaler or any other type of business but all needs the trust from the customer. Shop Registration under the MSME Act gives you trust between the customer when you mentioned your license registration number on the invoice or shop board.
e) Lifetime Certification – Shop License Registration under the MSME Act 2006 gives you the lifetime valid Certification so its is not required the renewal cost. so its just only one time cost for the same.
DOCUMENTS REQUIRED
- Aadhar Card Copy of the Applicant
- Pan Card Copy of the Applicant
- Basic Details information like about business and personal info.
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Shop Registration under the MSME Act
