MSME Registration – The Complete Guide
The abbreviation MSME stands for Micro, Small, and Medium Enterprises. The small and medium scale business and manufacturing units are the backbones of the country’s economy when these industries expand they support the economic development by creating employment opportunities while making the country a self-reliant nation.
To support the growth of such industries, the Government of India has been launching a series of programs and policies that are regulated by the MSMED Act 2006 in India under the Ministry of Micro, Small, and Medium Enterprises. To avail the benefits of these schemes, businesses are required to obtain MSME Registration.
Eligibility for MSME Registration in India
'Earlier due to rigid structure many MSME industries were unable to scale their businesses further. However, under the imitative of Aatmanirbhar Bharat Abhiyan, the government has revised the MSME classification by including composite criteria of both investment and annual turnover. Here is the Revised MSME Classification:
Additionally, in July 2021, the government made the amendment and allowed wholesale and retail business units to obtain the MSME certificate, and thus can apply for MSME registration of their wholesale/retail trade business except for motor vehicles and motorcycles.
Online Procedure for Registering MSME on Udyam
The process is completely online and is to be done on https://udyamregistration.gov.in There are two categories for the MSME registration that are:
Entrepreneurs who are not Registered yet as MSME or those with EM-II
Entrepreneurs who have registration as UAM and already have registration as UAM through Assisted filing
For the first category
For the Second Category
Documents Required for the MSME Registration
Since the Udyam Registration Portal is fully integrated with Income Tax and GSTIN systems. An applicant is only required to have an Aadhaar Card, and PAN Card as the further details will be taken automatically from the Government databases.
How can we simplify the process of getting an MSME Certificate?
Amidst the incorporation of a business, it is strenuous to get involved in all these registration processes. Nevertheless, to save your time as well as efforts, we at Muneembhai accomplish the complete process on your behalf.
Our service structure features end-to-end fulfillment under the guidance of our expert.