Udyam Registration – MSME

Udyam Registration – MSME

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799.00

Udyam Registration (Udyog Aadhaar) or MSME registration is a certificate issued under the Micro, Small and Medium Enterprise Development Act, 2006 (MSMED) to micro, small, medium-sized enterprises in India. Earlier Udyam was referred to as MSME registration. Now the process to obtain MSME registration has been merged with the registration of Udyam and made online by the Government.

Udyam Registration

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Benefits:

Registration of Udyam is provided by the Government and is easy and simple to obtain online. A company will enjoy the following benefits after having Udyam:

  • To showcase their goods, the applicant will be granted financial support to participate in international exhibitions.
  • The applicant is also eligible for government subsidies.
  • Registration would facilitate the trouble-free opening of current bank accounts in the company name.
  • It would also allow companies to apply for government micro-enterprise loans and other related beneficial schemes.
  • Easier sanction of bank loans at lower interest rates.

 

Eligibility:

Not all businesses can obtain Udyam registration. Only those entity that is classified as a micro, small or medium enterprise as per the table below based on investment in plant and machinery is eligible for Udyam.

 

Revised Classification applicable w.e.f 1st July 2020

Composite Criteria: Investment in Plant & Machinery/equipment and Annual Turnover

Classification

Micro

Small

Medium

Manufacturing Enterprises and Enterprises rendering Services Investment in Plant and Machinery or Equipment:
Not more than Rs.1 crore and Annual Turnover; not more than Rs. 5 crore
Investment in Plant and Machinery or Equipment:
Not more than Rs.10 crore and Annual Turnover; not more than Rs. 50 crore

Investment in Plant and Machinery or Equipment:
Not more than Rs.50 crore and Annual Turnover; not more than Rs. 250 crore

 

Required Documents:

In the case of a proprietorship, the applicants’ Aadhaar is the key requirement to receive Udyam. No further documents other than an email and a mobile number are required.

  • In the case of proprietorship, the applicant’s Aadhaar must be used.
  • In the case of a partnership, the partner’s Aadhaar can be used.
  • In the case of a company, the Director’s Aadhaar can be used.
  • In the case of LLP, the Designated Partners Aadhaar can be used.

When an individual or registered business signatory does not have Aadhaar, then he/she must apply for Aadhaar at an Aadhaar enrollment center first. Once the Aadhaar is obtained, the process of Udyam Registration will begin.

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