Udyam Registration for MSMEs
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What is Udyam Registration?
Udyam Registration also known as MSME Registration is nothing but a government registration that is provided along with a recognition certificate and a unique number to certify small/medium businesses or enterprises. The central motive behind this facility was to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via MSME through their Aadhar Card Number.
The entities which are eligible for Udyam Registration are meant to be either in manufacturing or producing or processing or preservation of goods or in providing the services. But there are a set of criteria that an entity has to meet to be classified as a medium, small, or micro-enterprise for obtaining the MSME registration
Process of Udyam/MSME Registration
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Document submission and verification
Once you submit the documents required, our experts will do the paperwork.
Filling Correspondence details
We will file the correspondence details with the concerned authorities and resolve any queries raised by them.
Udyam Registration Issued
“Udyam Registration Certificate” shall be issued on completion of the registration process in electronic form.
Advantages of Udyam Registration
Reduction of setting up cost
Udyam registration helps in the reduction of the cost of getting a patent done or the cost of setting up the industry with the help of many rebates and concessions available.
Easier Approvals:
It becomes easy to get licenses, approvals & registrations irrespective of the field of business and higher preference is given to entities that have Udyam registration.
Reduced Bank interest rate
Udyam registration also provides reduction in rate of interest i.e., up to 1.5% lower than interest on regular loans from Banks including 1% Exemption on interest rate on Bank OD.
Tax Rebates & Subsidies:
There are various tax rebates available for entities registered under Udyam and these entities also get benefit of tariff subsidies and tax & capital subsidies.
Types of Enterprises
- Micro Enterprises -- Investment up to Rs 1 Cr and turnover up to Rs 5 Cr
- Small Enterprises -- Investment up to Rs 10 Cr and turnover up to Rs 50 Cr
- Medium Enterprises -- Investment up to Rs 50 Cr and turnover up to Rs250 Cr
Documents Required for Udyam Registration
- Aadhar Card of Proprietor/Partner/Karta/Director
- PAN Card of Applicant
- GST Registration Certificate
- Bank Statement
- Past Income Tax Return Details
- Details of Business
Packages
Basic
What's included
- Udyam Registration
Basic
What's included
- Udyam Registration
- GST Registration
- Expert Consultancy
Basic
What's included
- Udyam Registration
- GST Registration
- Private Limited Company Registration
- Expert Consultancy
Frequently asked questions
1. What is Udyam Registration?
Udyam Registration is the new process of MSME/UDYOG AADHAAR Registration.
2. Is hard copy of Certificate will be issued?
No, Government is promoting paperless work in the interest of environment.
3. What is the difference between Udyam registration and MSME Registration/Udyog Aadhar ?
Udyam Registration is new and easy way of MSME Registration/Udyog Aadhar.
4. Who can apply for Udyam Registration?
Any person who establishing a micro, small, medium enterprise may apply for udyam registration online.
5. Can I update my old UAM?
Yes, you can update your old Udyog Aadhaar Memorandum (UAM) using the new tab available on the UDYAM registration portal. However, this service is available till 31/03/2021only.
6. How many NIC codes can be added to one UDYAM registration?
You can add maximum 10 NIC codes in one UDYAM registration.
7. Can more than one UDYAM registration be done on the same PAN?
No, you can take only one UDYAM registration with a single PAN.
8. Do PAN and GSTIN are mandatory for UDYAM Registration?
As per the relaxation given by Ministry, one can take registration on self-declaration basis up to 31/03/2021 but thereafter, PAN and GSTIN will become mandatory for UDYAM registration.
9. What Value of Plant and Machinery or Equipment is to be taken for registration purposes?
As per the clarification given by Ministry on 06-aug-2020, the WDV (written down value) reflected in the last year filed ITR should be taken for registration purposes.