Udyam Registration or MSME Registration
Transparent Fee & Easy Process
Every MSME must enroll itself for issuance of Udyam, this enrollment is valid for a lifetime and can be obtained by those enterprises that are already operational and have started operations
To grow the MSME sector, the government has launched various schemes for social security, financial support and tax exemptions (aadhaar udhyog) for the enterprises which qualify to be a micro, small and medium enterprise. The Micro Small & Medium Enterprises Development Act 2006 makes it mandatory for MSME’s to register themselves with government and obtain Udyam for availing benefits provided under MSME development act. There are lots of phrases starting with “MSME” which is just a term used in Indian law for anything that is classified as “small”, including manufacturing firms. For example, an MSME manufacturing would basically be a small manufacturing firm at an India level.
What’s the meaning of aadhr udhyog? It’s a special name given to MSMEs. Find out how it defines small MSMEs.
Micro Enterprise: You are an enterprise which is engaged in manufacturing. You can be classified as a Micro Enterprise in case the total investment in your plant and machinery is less than Rs. 25 lakhs. However, if you deal in service sector, then the said investment must be less than 10 lakh, during the financial year.
Small Enterprise: Industries with an investment of more than Rs. 25 Lakhs can be classified as a Small Enterprises in case the total investment in its plant and machinery is more than Rs. 25 Lakhs but does not exceed Rs. 5 Crores. However, if the enterprise deals in service sector, then the said investment must be more than 10 Lakhs but it should not exceed Rs. 2 Crores.
Medium Enterprise: If your enterprise is engaged in manufacturing and has an investment of more than 5 crores but not more than 10 crores, it can be classified as a medium enterprise. If your service industry enterprise has an investment of more than 2 crores but not more than 5 crores, it can be classified as a medium enterprise.
Benefits of Registration as MSME or Udyam
EASY AVAILABILITY OF LOAN – Every MSME whether in manufacturing or services sector will get collateral or mortgage free loan from Bank up to Rs. 1 crore under Credit Guarantee Scheme through SIDBI.
50% DISCOUNT ON IPR PROTECTION – While filing the trademark application in any class or multiple class, the MSME is entitled to 50% less fee of filing. Similarly, while filing patent application, MSME is entitled to 50% discount.
SPEEDY RECOVERY OF DUES – You must pay the MSME as per agreement between parties or within 45 days. Failure to do so entitles you for three-fold interest.
REBATE IN TAXES – Registering as an MSME under the MSMED Act, 2006 will automatically make you eligible for many tax incentives and exemptions including capital gain subsidy schemes under income tax act.
GOVERNMENT TENDER PRIORITY – Central and state government departments must register for the aadhr udhyog mobile application to get priority treatment for purchases from micro, small, and medium enterprises.
LOW-INTEREST OVERDRAFT – If you run a small business, you can take an overdraft from a bank with 1% lower interest rates. This is because the government of India wants to encourage micro-small (MSME) businesses. Also, you need to be registered with aadhar udyog.
CONCESSIONAL ELECTRICITY – You can avail concessional rate of electricity for your unit by making a written application after getting registered as MSME ( Udyog Aadhar) to the electricity department.
Documentation of Udyam Registration or MSME Registration with Zero cost, No Fee and Free Registration
Here’s how to register for MSME/MSME. You can start your free business registration process by giving us your valid PAN Number or registering a new business.
Aadhar number, pan and an OTP will go to your mobile and email for confirmation.
Every MSME will be required to register on aadhr udhyog that uses the address provided on your business registration.
Bank Account Information including IFSC code (bank statement and cancelled cheque in the name of applicant).
Enterprises registered in India should provide the NIC Code of the products and services in which the enterprises are dealing at the time of registration.
MSME registration process in one day.
Now that you know the benefits offered by an MSME, it’s time to have a closer look at MSME registration process. Before starting the process, ensure that you have an Aadhar Card and your card must linked with the phone no. An Aadhar Card is compulsory in the registration of MSME. In case you do not have one, an application is to be filled online and get it first.