MSME Udyam : Registration, Process, Documents, & Benefits

What is Udyam Registration:

* It is a Government Registration for Small & Medium Enterprises which provides a recognition certificate and a unique number. 
* Udyam Registration also known as MSME Registration.

       

Document Requirement for Udyam Registration?

  • MSME registration process is fully online, paperless, and based on self-declaration.
  • There is no requirement for documents or proof for registering an MSME.
  • PAN & GST linked details on investment and turnover of enterprises will be taken automatically from Government databases.
  • Having PAN & Aadhaar number is mandatory.

 

Benefits of Udyam Registration

  • Udyam registration helps in getting government tenders.
  • Due to the Udyam, the bank loans become cheaper as the interest rate is very low (Upto 1.5% lower than interest on regular loans
  • There are various tax rebates available for Udyam
  • Becomes easy to get licenses, approvals, and registrations, irrespective of the field of business.  Higher preference is given to businesses registered under Udyam for government license and certification.
  • Registered Udyams gets tariff subsidies and tax and capital subsidies.
  • Registration helps in the reduction of the cost of getting a patent done or the cost of setting up the industry. With the help of many rebates and concessions available.

 

Udyam Registration Process: 

Here is a simple guide for registering under MSME for obtaining Udyam Registration.

Step 1: Visit the Official Website

The very first steps for getting your business registered online will be on visiting the official Udyam Registration portal.
Click on the “For new Entrepreneurs who are not registered yet as MSME” option.

Step 2: Enter Your Personal Information

The initial particulars that you will need to enter will be your name and your 12-digit unique Aadhar number of proprietor/Director/Karta/Partner/Authorised Signatory. Click on “Validate & Generate OTP.” You will receive an OTP on your registered mobile number. Enter the OTP.

 

Step 3: PAN Verification

Select the type of organization and enter your PAN  no of Proprietor/Company/Firm/society etc and click on validate. PAN validation takes place.


 Step 4: Filling Correspondence Details

After filling all the details mentioned above, the next information that you will have to provide will be the complete postal address of the company/enterprise/entity. Also info about your company’s district, pin code, state, email address, and mobile number.

 

Step 5: Fill the Bank Details

You will have to enter your enterprise’s active bank account number along with the IFSC code of the concerned branch. If you don’t have the IFSC code of the concerned branch, you can obtain the same on the bank’s website.

Step 6: Enterprise Details

You will have to mention the mainline activity of your enterprise from the “services” or “manufacturing”. You will have to submit the total number of persons employed and National Industry Classification(NIC) Code for Activities.

After filling all the particulars, the last thing will be entering the total amount of money (in lakhs) that you have invested in your machinery or plant.

 

 Step 7: Select the District Industry Center and Accept the Declaration

In the final step of this process, you will be selecting the district industry center from the provided drop-down list. After that, you will have to accept the declaration and click on “Submit and Get final OTP”

Enter the OTP received on mobile and click on the “Final Submit” button.

Once you click on ‘Submit and Get Final OTP ’you will receive a registration number. Once all your information is verified by the Government, you will receive an E-registration document on your e-mail id.

 

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