About Udyam MSME
The Ministry of Micro, Small and Medium Enterprises (MSME) has introduced a new procedure known as Udyam Registration, replacing the previous MSME/UDYOG AADHAAR Registration. This transition became effective on July 1, 2020, as outlined in the notification released by the ministry on June 26, 2020.
Udyam MSME Registration
An Udyam Registration, also known as an MSME Registration, comprises of a government sign-off provided along with a Recognition Certificate and a Unique Number. This is instrumental if you wish to certify that your small or medium business or enterprises is legal and operational.
All the small, medium, and micro enterprises belonging to the manufacturing or servicing sector are eligible for registration under Udyog Aadhaar.
Benefits of Udyam/MSME Registration
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- Claim stamp duty and registration charges waiver, reducing the acquisition cost
- Get an exemption of 1% rate of interest on Overdraft
- Get a subsidy of 50% on patent fees and trademark
- Registered MSME‘s get exemptions under direct tax laws
- Concession on electricity bills
- Claim the expenses for obtaining ISO certification
- Get Government tenders easily and avail exemption
- Easy to obtain licenses, registrations, and approvals
- Interest rate Subsidy on Bank loans
- Exemption under direct tax laws
What type of business comes under Udyam/MSME?
An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: —
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- (i) a micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
- (ii) a small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and
- (iii) a medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
What is the Fee for Udyam MSME Registration?
Registration Process is totally free. No Costs or Fees are to be paid to anyone.
Documents Required for Udyam/MSME Registration
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- PAN of the Organization
- GST Certificate
- Aadhaar Copy of entrepreneur
- Social Category of entrepreneur
- Mobile No.
- E-mail address
- Date of Commencement of Business
- BANK A/c No and IFSC Code (or Pass Book copy)
- No of Employees (With Bifurcation of Male and Female)
- Nature of Business
- Latest Audited Financial Statements
How many days will it take to get an Udyam registration certificate?
After completion of the process of registration, a certificate will be issued online. This certificate will have a dynamic QR Code from which the web page on our Portal and details about the enterprise can be accessed. There will be no need for renewal of Registration.
It generally takes four or five days after submitting the application. You receive an email notification with your registration number. At times, the process may take more than 15 days to complete.
Check Udyam MSME Guidelines – Click here
How to get Udyam MSME Registration?
The Udyam/MSME Registration application is an extensive process subject to strict adherence to complete and accurate paperwork and procedure. An error in paperwork is likely to delay the process by several weeks or even months leading to loss of time and money.
Hiring an experienced Udyam Consultant can help you save time and efforts and get an Udyam Registration without a hassle in stipulated time period.
Top 5 Udyam MSME Consultants in India
WeR Consultants – Call: 7715923881, 8767805809 – https://www.werconsultants.com
Osgan Consultants – Call: 9811226085 – http://osganconsultants.com
MS Legal Associates – Call: 9980677677 – http://www.mslegalassociates.in
ADCA – Call: 7303414760 – https://adca.in
Suvidha Consultants – Call: 9051029900 – https://www.suvidhagroup.in
Note: MSME registration process is fully online, paperless and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME.
For details visit https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm
Why is it important to connect with the right consultants?
A knowledgeable and professional consultant has years of experience procuring Udyam/MSME, registration process, preparing documents, using proper formats, avoiding common errors and supporting clients and this expertise can certainly help your business. Get License connects you with BEST Udyam/MSME consultants who know what they are doing and do it well. They deliver results. Period.
FAQs related to Udyam MSME Registration in India
q: What is Udyam MSME Registration, and why is it essential?
a: Udyam MSME Registration is a government initiative in India for the registration of Micro, Small, and Medium Enterprises (MSMEs). It is crucial for availing various benefits, incentives, and support provided by the government to promote the growth of these enterprises.
q: Who needs to apply for Udyam MSME Registration?
a: All entities falling under the definition of Micro, Small, or Medium Enterprises are required to apply for Udyam MSME Registration.
q: What is the validity period of Udyam MSME Registration?
a: Udyam MSME Registration is valid for a lifetime. Once registered, there is no need for renewal.
q: What documents are required for Udyam MSME Registration?
a: The essential documents include Aadhar card, PAN card, business address proof, and details of the enterprise’s investment in plant and machinery or equipment.
q: Can Udyam MSME Registration be done online?
a: Yes, Udyam MSME Registration can be done online through the official Udyam Registration portal.
q: Is there any fee for Udyam MSME Registration?
a: No, there is no fee for Udyam MSME Registration. The process is entirely free of charge.
q: What are the benefits of Udyam MSME Registration?
a: Benefits include easier access to loans, government subsidies, priority sector lending, and various other incentives provided by the government.
q: Can an existing MSME enterprise migrate to Udyam Registration?
a: Yes, existing MSMEs registered under EM–Part-II or UAM can migrate to Udyam Registration.
q: How long does it take to process Udyam MSME Registration?
a: The registration process is instantaneous, and the Udyam Registration number is generated immediately upon successful submission of the application.
q: Can the details provided in Udyam MSME Registration be modified?
a: Yes, the details provided in Udyam MSME Registration can be modified or updated by the registrant.
Similar Topics
What is Udyam MSME Registration?
Udyam MSME Enterprise Classification
Documents Required for Udyam MSME Registration
Udyam MSME Registration Process
Expert Guide for Udyam MSME Registration
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