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Registration of MSME / UDAYAM
Micro, Small and Medium Enterprises (MSME) sector helps in developing the industrial sector in India. The maximum units for import and export products are produced and manufactured from these industries. Udayam is the new process of MSME/ UDYOG AADHAAR Registration launched by the Ministry of Micro, Small and Medium Enterprises on July 1, 2020 MSME helps in growth of the economy and also leads to large employment opportunities for the people in rural areas.
All existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st day of July, 2020. Enterprises registered till 30th June, 2020, shall be reclassified in accordance with this notification.The existing enterprises registered prior to 30th June,2020, shall continue to be valid only for a period up to the 31stday of March, 2021. MSME/ Udyam industries are the backbone of the economy that increases in global marketing.
Advantages on MSME / UDAYAM Registration
Subsidy Eligibility
The eligibility on subsidies for the industrial promotion given by the government and subsidies for the registration of patent holders.
Tax Exemption
Certain tax exemptions under the direct tax for the enterprise registered under MSME / UDYAM.
Easy Bank Loans
The availability of loans for the registered MSME/ Udayam are wide in nature and easy sanction of loans from financial institutions. The Credit Guarantee Trust Fund Scheme was introduced by the Government Of India , SIDBI(Small Industries Development Bank Of India) for the financial support from the government.
Exemptions
Additional exemptions like concessions in electricity bills for the certificate of MSME/ UDAYAM even ISO expenses can be reimbursed with the help of MSME/ UDAYAM certificate.
Documents required for the registration of MSME / UDAYAM
The following documents and requirements for registration of MSME / UDAYAM,
Aadhar / Voter ID / Driving licence / PAN of the applicant and Document in relation to the proof of identity.
The Address proof of the applicant , Proof of the registered place of business (Ownership documents/ rent or lease agreement), any bill in relation to electricity /landlord bill / bank statement and incorporation certificate and Document in relation to proof of address.
The certificate of incorporation of registration certificate of the company / LLP must be enclosed for the date of incorporation.
The documents in relation with the nature of the business must be enclosed in the form.
The name of the concerned enterprise or business must be enclosed.
The details of the bank account, bank name, IFSC code, branch code has to be enclosed.
The financial statement of the business, initial investments, turnover details and the assets of the business details.
Our esteemed professional team would guide you with other requirements based on the nature of business.
Process on registration for MSME / UDAYAM
Frequently Asked Questions
At present Aadhaar Number is mandatory for issuance of MSME Certificate.
MSME/Udyog aadhaar now known as Udyam Registration.
Any person who intends to establish a micro, small, medium enterprise may file online udyam registration.
Yes, the tax exemption on direct tax can be availed for the MSME / UDAYAM certificate.
If you have any further queries, get our experts’ opinion. For free consultation Contact our National Filings to resolve all your queries.
