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MSME

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MSME

MSME- an abbreviation of Micro, Small & Medium enterprises- is the pillar of economic growth in many developed, and developing countries in the world. Though India is still facing infrastructural problems, lack of proper market linkages, and challenges in terms of the flow of institutional credit, it has seen tremendous growth in this sector.

Micro – Any business or enterprise whose investment in plant and machinery is less than Rs. 25 lakh

Small - Any business or enterprise whose investment in plant and machinery lies between Rs. 25 lakh to Rs. 5 crore

Medium - Any business or enterprise whose investment in plant and machinery lies between Rs. 5 crore to Rs. 10 crore

Benefits of MSME registration:

  1. If a memorandum is filed by the MSME, then it is liable for timely payments by the buyer.
  2. Certain exemptions under Excise Scheme and Direct Tax Laws are provided.
  3. Statutory support is provided. It includes reservation and interests on The Delayed Payments Act.
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Frequently Asked Question

Who can apply for MSME registration?

MSME registration can be obtained by the following entities:-

  • Individuals, Startups, MSMEs, business owners & entrepreneurs
  • Private and Public Limited Companies
  • Sole Proprietorships
  • Partnership Firms
  • Limited Liability Partnerships (LLPs)
  • Self Help Groups (SHGs)
  • Cooperative Societies
  • Trusts, and many other entities

What is MSME Certificate Update Fee?

MSME Registration and to obtain MSME Certificate Fee is Free of Cost.

What is the difference between Udhyam Registration and MSME/Udyog Aadhar?

Udhyam Registration is MSME registration to start a business under the Ministry of Micro, Small and Medium Enterprises (MoMSMEs) approved by the Government of India. Whereas MSME/Udyog Aadhaar is a 12-digit Unique Identification Number (UIN) provided by the MoMSME for Small and Medium Enterprises (SMEs).

Is Aadhaar number mandatory for online MSME registration?

Yes, For MSME registration Aadhaar card is mandatory.

Do I get a hard copy or a physical copy of the MSME certificate?

Government has initiated paperless work, so no physical copy is issued. However, the authority emails the certificate instead.

If an individual is a director of more than one company, can he use his Aadhaar number to apply for Udhyam registration?

Yes, an individual is a director of more than one company, he can use his Aadhaar number to apply for Udhyam registration.