UDYAM or MSME Registration
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Overview
Benefits of Udyam or MSME Registration
Financial Support
Udyam or MSME registered businesses are eligible for various financial support schemes, including government subsidies, loans, and credit facilities, enabling them to access much-needed capital for expansion and development.
Priority Sector Lending
Banks and financial institutions give priority to Udyam or MSME registered enterprises for lending, making it easier for SMEs to secure loans and financial assistance.
Reservation Benefits
Government tenders often have reserved quotas for Udyam or MSME registered businesses, providing opportunities to participate in public procurement processes.
Tax Benefits
Udyam or MSME registration opens doors to tax incentives and exemptions under various government schemes, reducing the tax burden on SMEs and improving their competitiveness.
Protection under MSME Act
Udyam or MSME registered enterprises receive protection under the Micro, Small, and Medium Enterprises Development (MSMED) Act, ensuring fair treatment and timely settlement of disputes.
Concession in Electricity bills
Enterprises that have MSME Registration Certificate can avail Concession on electricity bill by making application to electricity department
Classification
Micro Enterprises
- Investment : Up to INR 1 crore in plant and machinery or equipment.
- Turnover: Up to INR 5 crores.
- Workforce: Smaller number of employees compared to small and medium enterprises.
Small Enterprises
- Investment : Up to INR 10 crores in plant and machinery or equipment
- Turnover: Up to INR 50 crores.
- Workforce: Larger workforce compared to micro enterprises.
Medium Enterprises
- Up to INR 50 crores in plant and machinery or equipment
- Turnover: Up to INR 255 crores.
- Workforce: More significant workforce compared to micro and small enterprises.
Require Documents
Documents for registration of a MSME Registration
- Aadhaar Card: The proprietor, partner, or authorized signatory's Aadhaar card details are mandatory for Udyam or MSME registration.
- Business PAN: The PAN card details of the enterprise are required.
- Bank Account Details: The enterprise's bank account details, including the account number and IFSC code,
- Ownership Proof: Any supporting documents such as the sale deed, lease agreement, or property tax receipt
Process
Process for Registration of a Private Limited Company
Online Registration
Obtain Certificate
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