The official portal for MSME registration is the sole government website where MSMEs (Udyam) can be registered online. Also, you can re-register through this portal even if you have already registered with UAM (Udyog Aadhaar Memorandum) or EM-II (Entrepreneurs Memorandum, Part-II).
You may find all the actions and information required for registration on this portal, which is maintained by the Micro, Small, and Medium Businesses Ministry. For everyone, the registration process is pretty simple. This user-friendly platform and free paperless Udyam registration are both very appreciated. MSMEs, or micro, small, and medium-sized businesses.
Micro, small, and medium-sized businesses should be defined here.
- Micro Enterprises : Investment in business machinery, equipment, and plants is not greater than Rs. 1 crore. The upper limit for a microenterprise’s turnover is 5 crore rupees.
- Small Enterprises : Investment in industrial machinery, office equipment, and plants cannot exceed Rs. 10 crore. The maximum turnover is 50 crore.
- Medium Enterprises : Company investment in plant, equipment, and machinery is limited to 50 crores, while annual revenue is limited at 250 crores.
Why Is Udyam Registration Required?
To receive the following benefits, your Udyam registration must be complete:
- Your business will meet the requirements for reduced electricity rates.
- While requesting a loan from an NBFC or bank, you might ask for a lower interest rate.
- Banks offer loans without collateral, which you can apply for.
- You won’t have any trouble getting tax breaks.
- Your claim fees will be reduced by the government.
- You will be reimbursed for the costs incurred in obtaining ISO certification.
- You can easily get subsidies from the National Small Industries Corporation.
- The Indian government’s excise exemption programme will be enjoyable for you.
What Do We Mean By Udyog Aadhar, Udyam Registration, or MSME Certificate?
To certify small/medium firms or enterprises, the government issues Udyam Registration (Udyog Aadhar), which consists of a registration along with a recognition certificate and a unique number. Every small, medium, and micro business needs an identity proof, just like every Indian individual needs an Aadhar Card. Your company must meet a number of requirements in order to be classified as tiny, micro, or medium-sized.
These documents are required for MSME registration.
- Owner’s Aadhar Card. Aadhar card of any director or partner in the case of a partnership firm or company.
- Valid mobile number connected to the aforementioned Aadhar card.
- Name of the business
- Social Group of the Applicant
- Address of the Organization by Post
- Beginning date of the business
- Account number and branch’s IFSC code are details of a bank account.
- Principal area of organization activity
- Investment in machinery and plant
- Total number of employees
- latest financial statements under audit
The Advantages Of MSME Registration
- The legal immunity from direct taxation
- Decrease in the cost of registering patents and trademarks
- Credit-guarantee programme
- By registering with MSME, your company will be qualified to get benefits from government programmes, such as loans with no guarantee, loans with low interest rates, and loans that are simple to obtain.
- The government will provide financial support for your participation in international business expos.
- You will also be able to take advantage of additional incentives that will aid in raising the revenue for your business.
- Great bill reductions for electricity
- If your business submits an application for a government contract, you will receive an exemption.
Suggested Read: Online MSME Registration
