MSME/UDYAM REGISTRATION

DOCUMENTS REQUIRED

Udyam Registration or MSME Registration is the process of registering MSME (Micro, Small and Medium Enterprises). A permanent registration number along with a certificate is issued after Registration. MSME Registration Number is a permanent identification number. The validity of this certificate is for lifetime and there will be no need for renewal of Registration.

Classfication:

Sl.No	Enterprise Type	Investment	Turnover
1.	Micro enterprises	Less than Rs. 1 Crore	Less than Rs. 5 Crore
2.	Small enterprises	Less than Rs. 10 Crore	Less than Rs. 50 Crore
3.	Medium enterprises	Less than Rs. 20 Crore	Less than Rs. 100 Crore

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Process of MSME Registration

Visit the Official Website

Visit the official website of Udyam registration- https://udyamregistration.gov.in/. Click “Welcome to Register Here” and select “For New Entrepreneurs”.

Aadhaar Number

Enter your twelve-digit Aadhaar number and Click “Validate & Generate OTP ” and enter the OTP you receive on your Aadhar-linked mobile number.

PAN Number

Choose the type of your firm among Micro, Small or Medium enterprises, based on the annual turnover and enter the PAN number and click on “Validate.”

Address and Banking Details

Enter the full address and office address of the MSME and then enter the bank details and click on “Submit.”

Business Activity

Enter the main business activity, i.e., manufacturing or services, and the number of employees.

Approval

Select the District Industry Centre (DIC) and accept the terms and conditions and click on “Submit” and “Generate OTP.” Enter the OTP and click on “Final Submit”.

Advantages of MSME Registration Benefits

Government Tender

The applicant is given a special priority and has a better possibility of acquiring the Government Tendor.

Bank Loan

The applicant can avail raise loans from the Bank easily such that the certain leverage is given in the rate of interest.

Tax/Tariffs and Subsidies

There are various tax rebates, tariff subsidies and capital subsidies and concession in electricity bills.

Protection against delayed Payments

An interest of thrice the bank rate percent is charged when there is a delay in the payment by the buyer and therefore it gives a protection against the delay in payment from Buyer.

IPR Discounts

Entity registered under MSME gets 50% percent discount in government fees for Trademark and Patent.

Fast Dispute Resolution

The disputes related to any entity or payment due or arrears can be filed in MSME forum and the timeline for dispute resolution is 6 months.