The Micro, Small and Medium Enterprises (MSME) have a dominant role in the entire business ecosystem of the Indian economy. This segment is known for its ability to create new jobs, helps capital formation and play crucial role in the supply chain for products and services. Although getting MSME online registration is not mandatory, but it is always beneficial for MSMEs to get registered to avail a variety of incentives, concessions, schemes and other benefits.  For Promoting and supporting MSMEs, the Government of India offers various subsidies, beneficial schemes, and incentives.

MSME Classifications

Why MSME Registration?

• Access to Finance become easier and Bank loans can be availed at cheaper rate of interest.

• Many government tenders are open only to the MSME category.

• Customers have an obligation to pay the MSME supplier within 45 days.  

• MSMEs enjoys certain  tax concessions including carry forward of Minimum Alternate  Tax (MAT) up to 15 years 

• Considerable Savings in cost in connection with Patent registration or setting up the industry. 

• Also, Business registered under MSME are given higher preference for government license and certification.

Documents Required for MSME/Udyam Registration

• PAN Card: Owners PAN Card is crucial document for MSME/Udyam Registration.

• Aadhaar Card:  Another essential document for MSME/Udyam Registration is the unique 12-digit Aadhar number issued by UIDAI. Aadhar number must be linked with the Mobile number. 

• Business Address: Compete and correct address of the business premises. This could be even residential address. 

• Bank Account Details: Particulars of owner’s bank account.  

• GSTIN: GST registration number, if available. 

• Certificate of Incorporation or Partnership Deed: Certificate of incorporation/Partnership deed is required if you have a registered company or LLP.

• Details of Major Business Activities

A crucial document required for MSME/UDYAM registration is a brief description of your business operations, along with NIC Codes. This submission provides the Registrar with valuable information about your operations, assisting in evaluating your eligibility for government schemes and benefits.

• Other Requirements

• • Phone number linked with Aadhaar

  • Business turnover details

  • Investment details (plant or machinery)

  • Copies of licenses and bills of the machinery