MSME / Udyam Registration

Udyam Registration is a self-declaration paperless for entrepreneurs to register their enterprises. An enterprise whose investment in plant, machinery and equipment does not exceed one crore, and turnover does not exceed five crores is a micro enterprise. An enterprise whose investment in plant, machinery and equipment does not exceed ten crores, and turnover does not exceed fifty crores is a small enterprise.

An enterprise whose investment in plant, machinery and equipment does not exceed fifty crores, and turnover does not exceed two hundred and fifty crores is medium enterprise.

You don’t have to provide any documents or proof except the Aadhaar number of the registration. Moreover, we will automatically pull PAN and GST-linked details on investment in the business, according to Udyam Registration since it is integrated with Income Tax and GSTIN systems. MSMEs are given a permanent registration number and a certificate post-registration. The certificate bears a QR Code from which the details about the enterprise can be accessed. It will be truly helpful you to get easy bank loans for set-up and expand your business enterprises.

Udyam Registration process

Any individual planning to start a micro, small or medium enterprise may apply for Udyam registration under MSME Act. You don’t have to provide any document, the entire process will be based on your self-declaration. Upon registration, the individual is given an identification number. This will be called Udyam registration number. This number is permanent. Upon completion of the process, the applicant receives a virtual certification known as Udyam registration certificate.

Why does one need Udyam Registration?

    (a) You are entitled to collateral-free loans from any bank.

    (b) You can request a lower rate of interest for loans from your bank/NBFC.

    (c) The government will reduce your charges on claims.

    (d) Your venture is eligible for concessions in electricity bills.

   (e) You are entitled to receive subsidies from National Small Industries Corporation and other Government entities.

    (f) Your business is eligible for reimbursement of the cost involved in obtaining ISO certification.

    (g) The Government of India has an excise exemption scheme in place for you.

    (h) You avail tax exemptions without any difficulty.