INTRO
MSME registration is a process of registering a Micro, Small, and Medium Enterprise (MSME) with the government.
OBJECTIVE
MSME registration is an important step for small businesses in India as it provides several benefits that help businesses grow and thrive.
APPLICABILITY
The definition and criteria for MSME classification are defined by the Ministry of MSME and are uniform throughout India.
Documents Requirements
Documents of Individual
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PAN & AadharCard
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Mobile No.( Regd. Under Aadhar) & Email ID
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Bank Details
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Address Proof (owned) ( Electricity Bill / Water Bill / Property Tax / Driving Licence)
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Address Proof (Rented) ( NOC / Rent Agreemet)
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Color Photo
Other than Individual
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PAN Card + Aadhar Card of Authorised Signatory
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Registered Mobile No. & Email ID of Authorised Signatory
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Bank Details of the Business
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Address Proof of the Business (owned) ( Electricity Bill / Water Bill / Property Tax / Driving Licence)
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Address Proof of the Business (if Rented) ( NOC / Rent Agreement)
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Pan Card of the business
Advantages
Easier access to credit
MSMEs registered with the government are eligible for collateral-free loans and easier access to credit from banks and financial institutions.
Protection under MSME act:
MSMEs registered with the government are protected under the MSME Act, which provides for various measures to ensure the growth and development of these businesses.
Marketing support:
MSMEs can avail of various marketing support services offered by the government, such as exhibitions, trade fairs, and more.
Subsidies and incentives:
MSMEs can avail of various subsidies and incentives offered by the government, such as tax exemptions, subsidies on raw materials, and more.
Government procurement:
MSMEs registered with the government are eligible to participate in government procurement processes and have a greater chance of winning government contracts.
Easy business registration:
Udyam Aadhar registration simplifies the MSME registration process, making it easier for businesses to register and avail of the benefits.
Frequently Asked Question
| MSME are classified into 2 categories:- | ||||
| Manufacturing Enterprises | ||||
| Service Providers | ||||
| → | Trading | |||
| → | Non - Trading | |||
| Type of entity | MICRO | SMALL | MEDIUM | |
| Manufacturing Enterprises & Service Provider | Investment up to Rs. 1 Crore | Investment upto Rs. 10 Crores | Investment upto Rs. 50 Crores | |
| AND | AND | AND | ||
| Turnover up to Rs. 5 Crore | Turnover upto Rs. 50 Crore | Turnover upto Rs. 250 Crore | ||