MSME

How to get registered as a MSME in India?

by DEEPA KAINTURA

MSME stands for Micro, Small and Medium Enterprises in India. The business entities on the basis of their Investment value in Plant and Machinery and Turnover can decide and get to know that, whether it falls into the definition of MSME and get benefited with the schemes which are applicable for MSMEs. 

With effect from the date 01.07.2020, in the gazette of India, the Government notifies the new revised criteria for classification of micro, small and medium enterprises, which is as provided below:

(i) a micro enterprise, where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;

(ii) a small enterprise, where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees;

(iii) a medium enterprise, where the investment in Plant and Machinery or Equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.

There are plenty of schemes and benefits available for the entities that fall under this criteria. To get the benefit, One needs to get itself registered for the same. Here, we are going to provide you with an overview of the registration process. 

Firstly, to get the MSME registration certificate, you can apply through the Udyam Registration Portal https://udyamregistration.gov.in/UdyamRegistration.aspx

Secondly, Documents and Information required for the Registration are as follows:

  • Business Name 
  • Type of Business Organization (Proprietorship Firm, Partnership firm, Pvt Ltd, etc.)
  • Proof of Business entity (Partnership Deed, Certificate of Incorporation (COI) along with MOA and AOA, etc.) 
  • Aadhaar Number of Individual, being the Applicant 
  • PAN of Individual, being the Applicant
  • Address of Premise to be registered
  • Business Activity
  • Bank Cheque or Passbook page for Bank Account Details
  • Investment Value
  • Turnover Value / Financial Statement
  • Income Tax Return, if any

Thirdly, the Steps to be followed for Registration

Step 1

Validate the Aadhar Number of the applicant through the OTP and Mobile Number on the Registration Portal.

Step 2

Fill out the Complete Application form with your Business details. Select the business activity of the entity carefully.

Step 3

Click on the Submit Option and enter the OTP received.

Step 4

You will get the UDYAM Registration details and certificate in your mailbox. 

The registration can be done by the applicant itself. There is no Government Fee involved while getting registered for UDYAM. Business Activity and Business Code need to be selected accurately while filling out the form. 

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About Author – Deepa Kaintura

I am a lawyer by profession. I am a legal consultant in TaxAcumen providing services to corporates about GST, Income Tax, ROC Compliances, etc. Having a practical exposure of GST, Income Tax and ROC Compliances, I love to share my knowledge with our readers about legal compliances.