Your MSME Registration is just a click away.
(Price inclusive of all charges)
What is MSME Registration?
MSME Registration is the registration of micro, small and medium scale businesses, engaged in the business of manufacturing and service providing, under Micro, Small and Medium Enterprises Development Act, 2006, governed by the Ministry of MSEM under the Government of India. It’s also called Udyog Registration or Udyog Aadhar.
Classification of Enterprises under MSME.
Ministry of MSME revised the classification of enterprises under MSME w.e.f. 1st July 2020. The revised classification is based on an investment of money in plants/machinery/equipment and annual turnover, which is as under:
|Investment is less than Rs. 1 cr.|
Turnover less than Rs. 5 cr.
|Investment is less than Rs. 10 cr.|
Turnover is less than Rs. 50 cr.
|Investment is less than Rs. 50 cr.|
Turnover is less than Rs. 250 cr.
Why MSME Registration is Important?
MSME businesses are considered the backbone of India’s economy. They contribute more than 30% of the GDP of the country. In another way we can say the GDP growth depends on the growth of the MSME sector up to that extent, hence Government always supports MSME sectors and launch various incentives and schemes for these sectors.
Some main benefits of MSME Registration:
- Bank provides loans to MSMEs at cheaper rate than regular loans.
- Businesses registered under MSME can get trademark at reducing rate of government fee than regular applicants.
- Government gives priorities to MSMEs for biding in government tenders.
- MSMEs entitled to get their payment from customers within 45 days of due date.
- MSMEs entitled to get their outstanding payment with 18% p.a. interest after 45 days of due date.
- MSMEs can settle their disputed outstanding amount though launch grievances at portal of Ministry of MSME.
Time period of processing of application of MSME Registration.
MSME registration department usually takes 7 to 10 working days (excluding Saturday, Sunday and Gazetted holidays)
Documents required to get MSME Registration.
- Scanned Copy of Aadhar Card of Proprietor/Partners of Firm/Directors of Company.
- Scanned Copy of PAN Card of Proprietor/Partners of Firm/Directors of Company.
- Scanned Copy of PAN Card of Firm/ Company (if the applicant is Firm or Company).
- GST Registration Certificate (if registered).
- Bank Account Details of Proprietor/Firm/Company.
- Last ITR Filing Details of Proprietor/Firm/Company.
- Detail of amount invested in plant/machine/equipment.
- Number of employees and their gender.
- Area of business activities as per National Industrial Classification 2008 (NIC 2008).
- Contact details of business (Note: Active Mobile No. should link with Aadhar of Proprietor/Partner/Director).
How myaccountants.in can help you to get MSME Registration of your Business?
myaccountants.in has knowledgeable and experienced team members to guide you and resolve your queries related to everything about the MSME scheme and registration. You can follow the steps given below to get register your business under MSME through us.
Step 1. Book your service by making payment for selected service and you can ask queries related to the service in case of any doubt.
Step 2. After receipt of your payment, our team member will contact you to understand your requirements and guide you to send the required documents.
Step 3. Our team will start the process of registration on the same day you provide the required documents and information.
Step 4. Our team member will ask the OTP, which you will get on the number linked with your Aadhar Card, to authenticate the application. After the successful submission of the registration application, our team will provide the reference number of the same.
Step 5. After the successful processing of the application by the MSME registration department, our team will send you the certificate of MSME on your email ID.
General Questions and Doubts related to MSME Registration.
Q 1. Does Aadhar Card compulsory for MSME Registration?
Ans. Yes, Aadhar Card is compulsory to get MSME Registration and an active mobile no. must like with Aadhar number to authenticate the MSME Registration Application thought OTP sent on that mobile number.
Q 2. Validity of MSME Registration?
Ans. MSME Registration is valid till the existence of the enterprise and there is no need to renew the registration. Enterprise can surrender the registration at its will.
Q 3. Who can get MSME Registration?
Ans. Businesses who fall under the definition (classification) of MSME and engaged in the activities of manufacturing, Trading and enterprises who provide services are eligible to get MSME registration.
Q 4. Which schemes are available under MSME?
Ans. There are a bunch of schemes available to avail provided by the government. To check out the schemes please visit the link https://msme.gov.in/all-schemes.
Q 5. How to avail schemes under MSME?
Ans. After Obtaining MSME Registration if you want and are eligible for MSME Benefits Scheme then you Contact or Visit you’re near District Industries Centre (DIC).
Q 6. What is District Industries Centre (DIC)?
Ans. District Industries Centre (DICs) is a centre of the central government which the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and facilities at one place.