MSME Registration
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Overview of MSME Registration
Advantages of MSME Registration Online
The rate of interest on loans is much lower when compared to the interest on regular loans.
There are several government tenders which are offered only for the MSME Industries.
The businesses which are registered under MSMEs will get higher preference in the government certification and license process.
The bank loans provided to this type of enterprises become extremely cheaper as the rate of interest is very less; it is around 1 to 1.5%, once an individual goes for udyog aadhar new registration in India.
The MSME industries are allowed to get easy access to loans and credit.
There is a One Time Settlement Fee is imposed for all non-paid amounts of MSME certificate.
The registered MSMEs are also applicable to get credit for MAT (Minimum Alternate Tax) and it can be carried forward for about 15 years instead of the time period of 10 years;
For registered MSME, the cost receiving an evident is done, or the cost of setting up of the business unit is reduced as many concessions and reimbursements are available to these industries.
The eligibility criteria for MSME Registration
The difference between the services and manufacturing enterprises are removed by the recent Atma-nirbhar Bharat Abhiyaan Economic Package which was announced by the finance minister of India, Nirmala Seetharaman. The investment amount and annual turnover are made similar for industries or enterprises involved in both the service and manufacturing sectors.
Manufacturing Sector
- Criteria: Investment
- Micro: Less than Rs.25 lakh
- Small: Less than Rs.5 crore
- Medium: Less than Rs.10 crore
Services
- Criteria: Investment
- Micro: Less than Rs.10 lakh
- Small: Less than Rs.2 crore
- Medium: Less than Rs.5 crore
Revised MSME Classification
- Criteria: Investment & Annual Turnover
- Micro: < Rs.1 crore & < Rs.5 crore
- Small: < Rs.10 crore & < Rs.50 crore
- Medium: < Rs.50 crore & < Rs.250 crore
Documents needed for MSME Registration in India
Listed below are documents and information required for the registration process of MSME Registration in India
- Aadhar Card of the applicant
- Name of the Owner-as in the Aadhar Card;
- The social category of the applicant
- Gender and Physical status of the applicant- physically disabled or not
- Name and type of enterprise
- PAN Number, Official Address of the enterprise’s plant
- Date of incorporation of the business
- The PAN Number
- Details of the previous registration of the enterprise, if any;
- Bank details of the enterprise;
- The business operations of the enterprise- "Service." or "Manufacturing"
- The NIC Code
- Details related to Employment such as total number of worker or employees working in the industry or organization
- The information on investment in machinery and equipment unit of the organization.
The procedure of MSME Registration in India
The detailed procedure for MSME registration process is as follows:
- First of all, the applicants are required to fill the necessary details required in the Registration application form for the Registration of MSMEs and then submit the application form for Registration to the concerned department. The step of filing of the application form can be begun either online or offline.
- Gather and collect all the required documents as prescribed in the MSME Registration Application form. Usually, the process of collecting all the needed documents takes about 1 to 2 working days to reach the next Registration step.
- The applicant is required to upload the necessary documents and submit the application form to the Registrar of udyog aadhar msme. The regulatory authorities do the processing and verification of the authenticity or validity of the documents submitted by the applicant. This verification and processing take around another 2 working days.
- After the regulatory authorities are satisfied with the documents and other submissions made by the applicant, the company of the applicant gets registered under the MSME.
Frequently Asked Questions
Yes, MSME Registration can be replaced with the Udyam Aadhar Registration. Any medium micro and small industries are required to do their Udyam Aadhar or Registration with MSME to start the business.
Yes. Under the Udyam Aadhar scheme Aadhar card is a mandatory requirement for the MSME Registration process. If the applicant is not the proprietor, then the Aadhar card of the director and the partner is required for Registration.
No, the credit score is not needed or necessary for MSMEs.
There is no specified expiry date of the Udyam Aadhar registration Certificate. As long as the company or business is financially healthy and working there will be no specified expiry date of the Udyam Aadhar registration Certificate.
The MSME Form- 1 is a form used to file half yearly returns to the Micro, Small and Medium Enterprises or MSMEs in the discourse of their unsettled dues to SMEs, amount of unpaid debt, reasons for the delay, and so on.
We offer Registration of MSME services all around India. We have already completed many successfully MSME registration for several clients in various cities like Chennai, Delhi, Mumbai, Bangalore, Kolkata, Gujrat, Uttar Pradesh, etc.
Yes, in India an existing and new business both can register for Udayam Registration. It is mandatory that the existing business unit should be in the functioning and meets the threshold limits for Udayam Registration
Udyam Aadhar is issued for business entities by the government and it is a 12-digit identification number.
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