BBNC

MSME/Udyam Registration


MSME/Udyam Registration is a government registration. which is provided along with a recognition certificate and a unique number. This registration is to certify that the business falls under the category of small and medium businesses.
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Overview

The governments basic motive behind this registration was to offer maximum benefits to the small and medium business or industries in India. Which will help the Indian economy in a long run.

The proprietor/Partners/ Directors need to provide their Aadhar card details such as their 12-digit Aadhar number. To register under the MSME/ Udyam registration.

The organizations which are eligible for Udyam Registration are meant to be either in manufacturing or producing or processing or preservation of goods or in providing the services. In other words, Traders who buy, sell, import, or export the goods are not even eligible for applying for Udyam Registration.

A business or entity is categorized under MSME on the basis of its investment and turnover.
• A business having turnover of below 5 Cr and investment of below 1 Cr is considered as Micro business
• A business whose investment is up to 10 Cr and turnover up to 50 Cr is considered as a small business.
• A business whose turnover is up to 250 cr and having investment up to 50 Cr is considered as medium enterprise.



Benefits of MSME/Udyam Registration

There are several advantages for a enterprise after getting registered under MSME or Udyam.

Government tenders

There are some specific government tenders which needs to be given to only small business. Such business having a MSME registration can get the advantage of it. By the help of MSME registration small businesses get opportunities to increase their revenue.

Bank Loan

Bank loans on business becomes cheaper If the business has an Udyam registration. Business who has udyam registration get 1.5% discount on the interest rate.

Government license & Certificates

it becomes easier to get licenses, approvals, and registrations, irrespective of the field of business. Higher preference is given to businesses registered under the udyam registration.

Cost reduction in TM & Patent

If a business having Udyam registration is applying for trademark registration then they get 50% discount on the government fees. Udyam registration also helps in reduction of cost of getting a patent.

Checklist/Requirements

1. Aadhaar Number of proprietor/director/partners
2. PAN & GST number is mandatory
3. Certificate of Incorporation Organization (If any)
4. Business address proof
5. Copies of sale bill and purchase bill
6. Partnership Deed/ MoA and AoA
7. Copy of licenses and bills of machinery purchased
8. Number of employees

Process of MSME Registration

Step 1: Client to share required documents and information

Step 2: Finalize the Application

Step 3: Approval from MSME

Step 4: Sharing deliverables

Key Deliverables

a. MSME Application

b. MSME Registration Certificate

MSME/Udyam Registration incorporation

Why Choose Us

  Entrepreneur Friendly

We make the process so easy and fast that you will not even feel the headache of all the paperwork, and our professionals will provide you all the promised deliverable within a given span of time.

  Experienced Professionals

All our professionals are qualified and specialized in that particular work. Making sure no mistakes are done at the time of filings with the authorities so that company won’t have to pay any penalties due to mistakes.

  One Stop for All Your Requirements

We support you throughout the journey of your business, from the incorporation, Accounting and taxation support, Secretarial compliance support, and Legal support.

  Cost-Effective

We believe that cost plays a vital role in any company’s growth stage, that’s why we do not surprise our clients with hidden charges, you pay what you see in the initial proposal.


Frequently Asked Questions


Does having a MSME registration helps in Trademark Registration?
Yes, By Having a MSME registration the government fee of trademark application gets reduced by 50%. That is 50% discount on the trademark application fee.
Most states offer those units registered under the MSMED Act a subsidy on power, taxes, and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preferences on goods produced. The Central and State Governments provide certain important benefits to MSME in the initial years of business. Exemption in excise and certain direct taxes are just to name a few.
All MSMEs which are not enlisted as ineligible activities under MSMED act falling under the definition of MSME are eligible for registration. The only condition is it should be running unit.
As per the latest gazette notification the activities with code 45, 46 and 47 are neither manufacturing units nor service units as per the definition of MSMED act 2006.Hence they can’t get Udyog Aadhar Memorandum (which is called MSME registration).45, 46, and 47 are activities related all types of wholesale and retail trading activities. Departmental store falls under one of these activities.
Yes, you can apply for MSME registration for a proprietary firm.
Although MSME Registration is not mandatory, it is always advisable for the Micro, Small & Medium Enterprises to get MSME Registration. It helps them to avail various benefits under the MSME Act.
Yes you can if it falls under the defined criterion of MSME. As per the revised definition, any firm with investment up to Rs 1 crore and turnover under Rs 5 crore will be classified as "Micro". A company with investment up to Rs 10 crore and turnover up to Rs 50 crore will be classified as "Small" and a firm with investment up to Rs 20 crore and turnover under Rs 100 crore will be classified as "Medium".