Seize Growth Potential with Specialized MSME (Udyam) Registration
Enhance Business Potential with Expert MSME (Udyam) Registration. Secure the benefits of Micro, Small or Medium Enterprise recognition through expert assistance
Meaning
Micro, Small or Medium Enterprise registration (Known as MSME Registration or Udyam Registration) is the process whereby any person or entity can get itself registered as Micro, Small or Medium enterprise, depending upon the nature of criteria in which they are falling.
Entities falling under MSME/Udyam are small businesses that play very crucial role in the growth of Indian Economy and Employment generation. The Government of India has recognised MSME/Udyam as an important sector and implanted various scheme and policies for its growth.
MSME Registration or Udyam Registration is not mandatory as per the law of land however, it offers various advantages to the MSME such as access to government scheme, subsidies or upper hand in Government tenders. Udyam registration certificate is an identification of a business as an MSME.
Criteria under MSME
- Micro Enterprises: Investment in plant and machinery or equipment – up to Rs. 1 crore and Annual Turnover of not more than Rs. 5 crore;
- Small enterprises: Investment in plant and machinery or equipment – up to Rs. 10 crore and Annual Turnover of not more than Rs. 50 crore;
- Medium Enterprises: Investment in plant and machinery or equipment – up to Rs. 50 crore and Annual Turnover of not more than Rs. 250 crore;
Key Features
- Access to government schemes: MSME Entities are eligible for several government schemes, like Credit Guarantee Schemes, subsidy programs, and other financial assistance programs.
- Upper Hand in Government Tenders: MSME Entities get upper hand in government tenders;
- Lower interest rates: MSME Entities get loan at lower interest rate as compared to other Non-MSME Entities.
- Reduced rates for patents and trademarks: MSME Entities are eligible for reduced rates for filing and renewing patents and trademarks which helps them to protect their identity;
- Business promotion and marketing support: Government of India provides several initiative and benefits from time to time to boost MSME (Udyam) industries.
- Collateral-free loans: MSME Entities get collateral-free loans up to a certain amount, which can help them to meet their working capital requirement for business growth.
- Tax benefits: MSME Entities can avail several tax benefits, such as exemption from certain taxes, reduced tax rates and other tax-related benefits.
What is included in this
FAQs
An MSME is Micro, Small or Medium Enterprise. The registration of the same is carried out on the same basis of classification of an enterprise as an MSME depending upon its size and revenue.
The Government of India has extended various benefits under MSME (Udyam) Registration scheme such as, loan at lower rate of interest, preference in government tenders, reduction in IPR Fee, tax incentives and training and development programs etc.
Yes, Aadhaar is a mandatory requirement. However, in certain circumstances applicant can also apply without Aadhaar.
Registration under MSME is classified in below manner:
- Micro Enterprises: Investment in plant and machinery or equipment – up to Rs. 1 crore and Annual Turnover of not more than Rs. 5 crore;
- Small Enterprises: Investment in plant and machinery or equipment – up to Rs. 10 crore and Annual Turnover of not more than Rs. 50 crore;
- Medium Enterprises: Investment in plant and machinery or equipment – up to Rs. 50 crore and Annual Turnover of not more than Rs. 250 crore;
- All existing enterprises registered under EM–Part-II or UAM are required to register again on the Udyam Registration portal on or after the 1st day of July, 2020.
- All enterprises registered till 30th June, 2020, shall be reclassified in accordance with the notification.
- The existing enterprises registered prior to 30th June,2020, shall continue to be valid only for a period up to the 31st day of December, 2021.
- An enterprise registered with any other organisation under the Ministry of Micro, Small and Medium Enterprises shall register itself under Udyam Registration.
Yes, PAN and GSTIN is mandatory for UDYAM registration for any entity who wants to register their MSME business except for Proprietorship Firm.
One can not take more than one UDYAM registration with a single PAN.
Yes, you can apply for more than one Udyam using a single Aadhaar Card but you need to provide a different PAN.
MSME and Udyam Registration is the same except there are some new changes the Government has brought in order to benefit entrepreneurs. The main important change is to register in Udyam, you need the aadhar card which is linked with your mobile number. Previously without linking aadhar card we can apply for the Udyog Aadhar but now it’s mandatory.
There will be no Physical copy of the Udyam Certificate issued. You can Print the Udyam Certificate received in your email address.
