MSME Registration – Udyog Aadhar Registration
Udyog Aadhar Registration - MSME Registration
MSME ministry said that an MSME in the country will now (from 1st July 2020) be known as ‘Udyam’ since the term comes closer to the meaning of an enterprise.
Micro, Small and Medium Enterprises. MSME stands for Micro, Small and Medium enterprises and SSI Stands for Small Scale Industries, categorized based on the annual revenue in business. These entities possess MSME registration certificate, registered with MSME Department of the Central Government under MSME Development Act, 2006. The Act was enacted for the promotion and growth of the businesses operating at small or medium scale.
The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for policy making and administering laws relating to micro, small and medium enterprises in India.
Based on investment and turnover criteria a business falls in three categories of Micro, Small or Medium.
Micro Enterprise: Manufacturing and services enterprises with investments up to Rs 1 crore and turnover up to Rs 5 crore will be classified as micro enterprises.
Small Enterprise: For small enterprises, the investment criteria and the turnover criteria has been revised upwards to Rs 10 crore and Rs 50 crore respectively.
Medium Enterprise: The enterprises which have investment up to Rs 20 crore and turnover up to Rs 100 crore will be termed as medium enterprises.
Small scale industries (SSI): Such as bakeries, beauty parlours, and leather bag manufacturing units, are those that manufacture and render services by making a limited investment.
Udyog Aadhaar Registration Process
MSME Registration Process Online
Step 1: Fill in MSME registration form online with all required details.
Step 2: After submitting application form along with documents, applicant shall receive a registration number
Step 3: Next step is paying the registration fee online
Step 4: After payment is successful, the authority will register the applicant’s business as MSME within 1-2 working days
Step 5: MSME registration certificate shall be delivered by an email to applicant’s registered email address.
The SME (Small and Medium Scale Enterprises) owner must fill a one-page form that he can do either online or offline. For online registration, the applicant should visit the official website: www.msme.gov.in
If someone wishes to register for quite one industry, then they ought to choose individual registration
In this form, the MSME has got to self-certify its existence, details of the commercial activity, checking account, ownership and employment details and other information
Here, during this registration process, the individual must provide his self-certified certificates
As mentioned above, no registration fees are required to be purchased this process
After filling the small print and uploading an equivalent, the license number would be generated and therefore the same would be mailed to the e-mail address given within the UAM which should contain unique UAN (Udyog Aadhaar Number)
Documents Required for MSME Registration
- Name of applicant (Authorized Director/Owner/Partner)
- Copy of PAN Card of Directors
- Copy of Aadhar Card of Authorized Person
- Address of Registrar Office
- Passport Size Photo of Directors
- PAN of Business
- Name of Business (LLP Deed/ Partnership Deed)
- Bank Account Number
- Last year ITR File Report (if Exiting Business)
- If New Business, Provide Declaration for turnover and Investor in plant machinery
- Trademark Copy (If Registered Already)
- Number of Employee
Benefits of MSME Registration
- Easy to get Licenses, approvals and registrations
- Collateral Free loans from banks (under CGTMSE)
- Subsidy (50%) on Patent Registration
- 1% exemption on the interest rate on OD
- Industrial Promotion subsidy
- Protection Against Delayed Payments
- Concession in electricity bills
- Reimbursement of ISO Certification charges
- Excise Exemption Scheme
- Direct Tax Exemption in the First year
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