MSME / UDYAM Registration

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MSME / UDYAM Registration

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950* Basic Package

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Overview

What is MSME / Udyam?

The Govt of India has enacted the Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 to support and promote small and medium business. There are various multiple benefits available to registered enterprises under MSMEs / Udyam. So to get the benefit, registration under MSMEs is important.

The main purposes of the MSMEs / Udyam registration are as under :-

1) To facilitate the small and medium enterprises to compete in the international market with quality at a lower cost.

2) To provide training at lower rate.

3) To give the exposure and protect against big corporates

MSMEs / Udyam Scheme criteria as revised wef 1st July 2020 :-

Classification	Limit
Micro	Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover not more than Rs. 5 crore
Small	Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore and Annual Turnover not more than Rs. 50 crore
Medium	Investment in Plant and Machinery or Equipment: Not more than Rs.50 crore and Annual Turnover not more than Rs. 250 crore

Investment not includes land & Building and Furniture

Investment amount without GST

Turnover not includes Export of Goods and Service

MSME UDYAM REGISTRATION OF EXISTING MSME ENTERPRISES :-

As per new definition of MSME w.e.f 01st July, 2020, the existing registered enterprises are required to get themselves registered as Udyam on Udyam Registration Portal again

The existing enterprise registered under EM-Part-II or UAM (Udyog Adhaar Memorandum) shall register again under Udyam Registration

All existing enterprises registered till 30th June, 2020, shall valid up to the 31st March, 2021. So all these existing MSME enterprises shall get themselves registered under Udyam Registration on or before 31st March, 2021.

Reclassification: All those existing enterprises shall be reclassified in accordance with this new notification.

Advantages

1. Patent registration subsidy :-

The enterprises with the certification registration of MSMEs / Udyam, Gets a subsidy of 50%, this subsidy can be availed for registration of patent by providing application to respective ministry.

2. Protection against delayed payments :-

The Ministry of micro, small and medium enterprise lends a helping hand to the seller of services and products by giving them the right to collect interest on the payments that are delayed from the buyer side. if any MSME registered enterprise supply goods and services, then the buyer has to do the payment within 45 days of the purchase. The settlement for such dispute should be taken care in minimum duration with conciliation and arbitration

3. Exemption of overdraft interest-rate :-

A business or enterprise, registered under MSME has the benefit of 1% on the overdraft as mentioned in the scheme that differs from bank to bank.

4. Collateral free :-

The government of India has made collateral free credit available to all small and micro businesses sector. Under the scheme, all the SMEs Will be provided with guaranteed funds, both the old as well as new enterprises can claim the benefit. A trust named the Credit Guarantee Trust Fund scheme was introduced by the Government of India and the Ministry of micro, small and medium enterprises to make sure this scheme is implemented for all businesses.

Document Required

Documents required for MSME?

1) Business address proof If owned, then possession letter and if rented, then no objection certificate from the landlord and rent receipts.
2) Phone No. registered with Aadhar Card
3) Email Id
4) PAN Card and Aadhar Card of applicant (Proprietor/ Director/Partner)
5) Business Activity (MOA/ Partnership Deed/ LLP Agreement etc.)
6) PAN Card of entity
7) GST Number of entity
8) COI/ Registration Certificate of entity
9) No. of plants and address, if any
10) Copy of cancelled cheque in the name of entity
11) No. of employees (No of female & male no)
12) Copy of Last ITR filed

Time Lines

(10 to 15 Days)
Purchase the Service
Upload / send the Documents
Discussion with expert
Filing of application with registrar authorities
Receipt of Registration Certificate
Confirmation to client

Service Covered

Pricing for what you want required service

Basic

950*

New MSME / Udyam Registration
Conversion from old MSME to New Udyam Registration based on new criteria

Business

1850*

New MSME / Udyam Registration
Conversion from old MSME to New Udyam Registration based on new criteria
GST Registration

Enterprise

7850*

New MSME / Udyam Registration
Conversion from old MSME to New Udyam Registration based on new criteria
GST Registration
Trademark Filing

Notes:
* This price is inclusive of all Govt filing fee and excluding GST amount.

FAQ's

What is the dead line to update the MSME information as per the new notification from MSME to Udyam?

The existing MSME registered enterprise will update the information regularly within the time allowed. This information will be used for reclassification of the enterprise

Where to update the MSME information for getting Udyam registration ?

An enterprise having MSME registration shall update its information online in the Udyam Registration portal

what information needs to update Udyam?

The ITR and the GST Return for the previous financial year and such other additional information as may be required is required to be updated on self-declaration basis, within the time period as may be specified. Based on this information, the classification of the enterprise will be updated

what if, information not updated?

The existing MSME registration will render the enterprise liable for suspension of its status.

What is the procedure if classification changed ?

In case of upward or downward classification of an enterprise, a communication will be sent to the enterprise about the change in the status.

Is MSME updated to Udyog Aadhar?

If any micro, small and medium industries want to start any business; they need to do the registration with MSME as it has replaced the Udyog Aadhar registration. .This registration with MSME/Udyog Aadhar can be done in two ways online and offline. This facility provides the business with a lot of benefits and subsidies.

Is aadhar card compulsory?

In order to get a registration under the MSME scheme, aadhar card is compulsory. In case an applicant is other than the proprietor, the Aadhar card of the partner or the director will be required.

Can existing and new businesses both apply?

An existing and new business can apply for MSME/Udyog Aadhar registration. But only if the existing unit is functioning and meets the threshold limits for registration.

Can trading companies register under MSME?

MSME covers only manufacturing and service industries. Trading companies are not covered by the scheme. MSME is to support startups with subsidies and benefits, trading companies are just like middlemen, a link between manufacturer and customer. Hence not covered under the scheme.

Do I need multiple registrations for manufacturing plants in different cities?

The MSME/Udyog Aadhar certificate is for a single entity irrespective of multiple branches or plants. But is compulsory to furnish information about multiple branches or plants.

What are the activities specifically excluded from coverage under MSME?

Ministry of Micro, Small and Medium Enterprises (MSME) has clarified as per notification S.O 2576 (E) dated 18.09.2015 and subsequent notification no S.O 85(E) dated 10.1.2017, activities that would be specifically not included in the manufacturing or production of commodities or rendering of services as per Section 7 of the said Act. Forest and Logging Fishing and aquaculture Wholesale, retail trade and repair of motor vehicle and motorcycles Wholesale trade except for motor vehicles and motorcycles. Retail Trade Except of Motor Vehicles and motor cycles Activities of households as employees for domestic personnel Undifferentiated goods and services producing activities of private households for own Activities of extraterritorial organisations and bodies.

MSME / UDYAM Registration