Micro, Small, and Medium Enterprises has over the years provided ample support to the Indian economy and is continuing to advance in plant and machinery or equipment sector. With investment less than 50 Crores and annual turnover less than 250 crores, these enterprises must get themselves registered on Udyam portal to get benefits like low interest rate on bank loan,rebates and concessions, benefits of government schemes etc.
Documents like PAN and Aadhar number along with turnover details of the company have to be kept handy before filing for MSME registration on the Udyam portal.
On Udyam portal step-by-step procedure has to be followed along with complete and true information while filing the application form. Mobile number and email ID have to be kept handy for OTP verification. Once OTP is verified Udyam Registration Certificate is sent to the registered email.
Udyog Registration Number and an e-certificate called the Udyog Registration Certificate issued in the name of the enterprise.
An acknowledgement slip containing payment details.
We at Compregi believe in complete transparency in the complete registration process of your company. Below mentioned cost structure includes minimal fee required at multiple stages of registration.
In India, where the MSME sector is the backbone of the economy, Udyam Registration came into force in July 2020. It is the instrument of filing by the Indian Government for recognition of Micro, Small, and Medium Enterprises. It has replaced the earlier Udyog Aadhaar Memorandum (UAM) registration. Although it is not a mandatory process, it comes with a lot of ease for MSMEs and they are encouraged to bring it forward.
The Udyam Registration Certificate is an OFFICIAL digital certificate issued by the MSME Ministry certifying completion of the Udyam Registration, a process that formally recognizes small-scale industry and business enterprises. It seeks to formalize their existence and enable them to avail government schemes and funding.
The Udyam Registration Certificate issued after the MSME Registration is valid for a lifetime. There is no condition of the Udyam Registration Renewal or Udyam Registration Certificate Renewal.
The installation cost of the industry is cheaper due to the many rebates and concessions available.
1% Interest Rate Exemption on Bank Overdraft (OD).
Bank loans are available without any collateral/mortgage at around 1-1.5%.
A 50% Discount on Government Fees for Trademark and Patent Filing.
A 100% deduction in profits for the first five years of operation.
Reimbursement of ISO certification fees.
MSMEs registered under Udyam can easily exit from their businesses.
Scheme for exemption from direct taxes.
A broad range of entities/companies/individuals looking to set up micro, small, or medium enterprise (MSME) in India with an annual turnover of up to Rs.250 crore and an investment of up to Rs.50 crore in plant & machinery can apply for MSME registration and obtain a Udyam Registration Certificate. An Udyam Registration Certificate can be obtained by the following:
As effective from 1st July 2020, a new definition of MSME has been drawn for businesses based on their net turnover, and net investment limits in plant, machinery, and other equipment. This definition applies to both goods-based and service-based MSMEs.
Sr. no. | Type of Enterprises | Investment | Turnover |
1. | Micro Enterprises | Less than Rs. 1 Crore | Less than Rs.5 Crore |
2. | Small Enterprises | Less than Rs. 10 Crore | Less than Rs.50Crore |
3 | Medium Enterprises | Less than Rs. 0 Crore | Less than Rs.100 Crore |
Udyam Registration is a voluntary process and not a compulsory one. It is advised to new entrepreneurs that they should start with Udyam registration shortly after the establishment of the business to benefit from all the advantages offered by the government.
It is mostly a self-declaration application but you would need your Aadhaar Number, PAN, Proof of company address, Bank Account details of the business, and turnover details of the company for the registration process.
We, CompRegi, empower complete transparency in the complete registration of your company. We have expertise in company registrations and compliance matters. Our dedicated experts are here to help you every step of the way with minimum hassle through MSME registration. The package mentioned below contains nominal charges required at different stages of registration:
UDHYAM (MSME) REGISTRATION for ₹499/-
It is a business code given to the enterprises by the government for accurate categorization of them as per their lines of business, which aids as an analysis, policy formulation, and data management tool for the MSMEs organization.
An enterprise can become registered as an MSME and as a startup, as these registrations have different functions.
One cannot obtain more than one Udyam Registration on the same PAN.
Both new and existing businesses can apply for the Registration of MSME online
The Udyam Registration Certificate is received by email (on the registered email ID of the applicant) within 2 business days of application. The MSME registration process on the Udyam Registration Portal is free.