UDHYAM (MSME) Registration
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.
MSME Registration Process
Step 1: Documents Arrangement
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.
Step 2: Application Filing
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.
What do you get
Memorandum
Udyog Registration Number and an e-certificate called the Udyog Registration Certificate issued in the name of the enterprise.
Acknowledgement
An acknowledgement slip containing payment details.
UDHYAM (MSME) Registration Cost
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.
DIGITAL SIGNATURE
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799/-
- Free Consultancy
- Free Search Check
- Preview before Filing
UDHYAM (MSME) REGISTRATION
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499/-
- Free Consultancy
- Free Search Check
- Preview before Filing
- 100% Peace of Mind
TRADEMARK REGISTRATION
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6500/-
- Free Consultancy
- Free Search Check
- Preview before Filing
An Overview of Udyam 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.Â
What is the Udyam Registration Certificate?
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.Â
Is there a Renewal Process for Udyam Registration?
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.
What are the Perks of Udyam Registration?
Following are some of the Udyam registration benefits to the MSMEs:
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.
Who is Eligible to Apply for Udyam Registration?
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:
What is the New Definition of MSME?
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.Â
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 |
Is Udyam Registration Mandatory?
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.
What Documents are required for the Udyam Registration?
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.Â
The Process of Udyam Registration Online:
- Visit the Udyam Registration Portal (https://udyamregistration.gov.in Government-India/Ministry-MSME-registration.htm).Â
- Click on the âFor new entrepreneurs who are not registered yet as MSME or those with EM-IIâ option on the homepage.Â
- Enter your 12-digit Aadhaar Number and the âName of Entrepreneur,â then click the âValidate & Generate OTPâ button.Â
- Enter the OTP sent to the Aadhaar-linked mobile number and validate the OTP.
- Input the necessary details of the enterprise, such as PAN, GSTIN, and bank account details.Â
- Fill in all necessary details, when the Udyam Registration Application Form appears and click âSubmit and Get Final OTPâ. Enter the OTP and submit the form.Â
- You will receive the Udyam Registration certificate issued after verification of the application by the government authorities in the email.Â
Why Choose CompRegi for your MSME Registration?
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:Â
UDHYAM (MSME) REGISTRATION for âđ499/-
- Free Consultancy
- Free Search Check
- Preview before Filing
- 100% Peace of MindÂ
FAQs
What is the NIC code for Udyam Registration?
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.Â
Can a Business Register as Both an MSME and a Startup?
An enterprise can become registered as an MSME and as a startup, as these registrations have different functions.
Can I Obtain more than one Registration on the same PAN?
One cannot obtain more than one Udyam Registration on the same PAN.
Can Existing Businesses Apply for the Registration of MSME Online?
Both new and existing businesses can apply for the Registration of MSME online
What is the Processing Time and Fees for MSME Udyam Registration?
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.