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MSME Registration or Udyam
Every Micro, Small or Medium Enterprises must enroll itself for issuance of Udyam, this enrollment is valid for a lifetime and can be obtained by those units or enterprises which have already started operations and not for the enterprise which is planned to be started.
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Online MSME Registration | Udyam
To promote the growth of Micro, Small & Medium Enterprises, the government of India gives various concessions and extends financial assistance exclusively to the units or enterprises which qualifies to be a micro, small and medium enterprises. The Micro Small & Medium Enterprises Development Act 2006 makes it mandatory for MSME to register themselves with government and to obtain Udyam for availing benefits provided under MSME Development Act. The terminology like MSME, SSI or Udyam is one and same thing. In other words, there is only one registration which a micro, small and medium enterprises has to obtain and that is Udyam. MSME is the backbone of the modern Indian economy and is considered as the growth engine for equitable and sustainable economic development of the country. Under MSME all kinds of enterprises can obtain registration, like manufacturers the service providers are also eligible for MSME benefits. Hence they are also required to get Udyam Registration.
Meaning of Micro, Small and Medium Enterprises Under MSME Act
Micro Enterprise
An enterprise which is engaged in manufacturing can be classified as a Micro Enterprises in case the total investment in its plant and machinery is less than Rs. 25 Lakhs. However in case the enterprise deals in service sector then the said investment must be less than 10 Lakh, during the financial year.
Small Enterprise
An enterprise which is engaged in manufacturing 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 in case the enterprise deals in service sector then the said investment must be more than 10 Lakh but must not exceed Rs. 2 Crores.
Medium Enterprise
An enterprise which is engaged in manufacturing can be classified as a Medium Enterprises in case the total investment in its plant and machinery is more than Rs. 5 Crores but does not exceed Rs. 10 Crores. However in case the enterprise deals in service sector then the said investment must be more than 2 Crores but must not exceed Rs. 5 Crores.
Benefits of MSME in Brief
An MSME is entitled to many benefits such as a reduction in the fee for the filing of trademark, copyright, patent, and design applications. Further, all government department has to necessarily source their supplies from a MSME. The benefits of the MSME Registration is provided in the following section of this page.
Documentation of MSME Registration
Udyam is a free facility by government, and there is no fee charged by government.
PAN Number in case of company, LLP or cooperative society, it is optional in all other cases.
Aadhar number and pan of the applicant, an OTP shall go to his mobile and email id for confirmation.
Address Proof of Establishment, either in the form of a sale deed or valid rent agreement.
Bank Account Information (bank statement and cancelled cheque).
NIC Code of the products and services in which the enterprises are dealing at the time of registration.
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