MSME Registration
MSME Stands for Micro, Small, and Medium Enterprises which facilitates the development & promotion of enterprises through various benefits & schemes. To encourage new and existing businesses and startups, the Government of India has launched various programs to help small and medium-sized enterprises grow. To avail of Government schemes & subsidies, you would need to register for Udhyam registration.
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Overview
The Government of India, Ministry of Micro, Small and Medium Enterprises notified a criteria on the basis of investment in plant and machinery or equipment and turnover for classifying the enterprises as Micro, Small and Medium Enterprises:
An enterprise can be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: -
- a micro enterprise, where the investment not more than one crore rupees and turnover not more than five crore rupees;
- a small enterprise, where the investment not more than ten crore rupees and turnover not more than fifty crore rupees; and
- a medium enterprise, where the investment not more than fifty crore rupees and turnover not more than two hundred and fifty crore rupees.
Benefits
- It is a permanent registration and identification number for an enterprise
- MSME Registration is paperless and based on self-declaration
- There is no need of renewal of MSME Registration.
- Any number of activities including manufacturing or service or trading may be specified or added in one Registration. Along with the Udyam Registration, Enterprises may register themselves on Gem & SAMADHAAN portal and simultaneously MSMEs themselves can also onboard on TReDS Platform, through three available platforms i.e.
- The Udyam Registration may also help MSMEs in availing the benefits of relaxation in Public Procurement Policy and Government Tenders, Protection against delayed payments and Credit Guarantee Scheme etc.
- Get priority lending from Banks.
List of Documents Required
- PAN and Adhaar Card Copy
- Business Name, Type and Address
- Email id and Phone No.
- Nature of Business
- Date of commencement of business
- Investment in Plant & Machinery
- Person Employed
- Bank Detail-A/c no./IFSC code/Bank & Branch
- PAN & GST number is mandatory from 01.04.2021
Process
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1
Any person who wants to establish a MSME may file for Udyam Registration online based on self-declaration only and no requirement to attach any documents, papers, certificates or proof.
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2
After registration, an enterprise will be issued a “‘Udyam Registration Number” and certificate.
More on Registration Process
- There is no fee for filing of Udyam Registration.
- Aadhaar number is mandatory for Udyam Registration.
- In the case of a proprietorship firm, aadhaar number of proprietor and in the case of a partnership firm and Hindu Undivided Family (HUF), Aadhaar number of partner or karta required.
- In case of a Company or a Limited Liability Partnership and other types of organization, GSTIN and PAN along with its Aadhaar number is required.
