Munshi Giri

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Udyam - MSME Registration

MSME/Udyam registration is an initiative by the Government of India to give legal and operational identity to micro, small, and medium businesses in India. Udyam registration was previously known as MSME registration or Udyog Aadhar registration and is governed by the MSME (Micro, Small, and Medium Enterprise) Development Act, 2006. In 2020, the registration process was changed from Udyog Aadhar registration to Udyam registration in order to simplify the registration process and help businesses accelerate growth. The entire process is online and based on self-declaration. All registered businesses can take the benefits granted under the MSME scheme. This includes many financial benefits such as easy loan facilities, hassle-free registrations, additional edge in Government Tenders, protection against delayed payments, etc.

Choose us

Why Should You Choose Munshi G & Co. for MSME/Udyam Registration?

  • Expert Team of Qualified CA, CS, and Lawyers
  • Dedicated Relationship Manager and On-call Support
  • The entire Registration Process is Managed Online
  • Quick Turnaround and Economical Pricing
  • Thousands of Happy Customers Across All States of India
  • Empowered with Secured Technology
  • Avail exclusive partner offers on web hosting, payment gateways, etc.
eligibility

Eligibility Criteria for MSME/Udyam Registration

The business entities that fall under the following three categories can apply for MSME Registration /Udyam registration online:

Micro Enterprises

Businesses whose investment in plant and machinery is not more than ₹1 crore and the annual turnover is not more than ₹5 crores.

Small Enterprises

Entities whose investment in plant and machinery is not more than ₹10 crores and the annual turnover is not more than ₹50 crores.

Medium Enterprises

Businesses whose investment in plant and machinery is not more than ₹50 crores and the annual turnover is not more than ₹250 crores.

the process

Timeline for Udyam/MSME Registration

Day 1

  • Discussion and consultation for the requirement
  • Collecting the required documents

Day 2

  • Preparation and verification of Application
  • Registering the application with Ministry of MSME
  • Certificate of Udyam registration
DOCUMENTS CHECKLIST

Documents Required for Udyam Registration

01

Aadhaar Card

A Copy of the proprietor’s Aadhar card or of director(s) or partner(s) in other cases for Udyam Aadhar Registration.

02

PAN Card

A Copy of PAN card of the business entity; or of individual in case of proprietorship firm.

03

GSTIN of Business

GST Number Certificate issued by the GST Department to a business if applicable.

04

Bank Account Details

The passbook or Cancelled cheque of the bank account is a must.

05

Proof of Type of Business

Certificate of Incorporation or Registration Certificate mentioning the type of business.

06

Major Business Activities Proof

Sales Invoices or proforma invoices to know the major activities done by the business.

Benefits

Why should you obtain Udyam/MSME Registration for your business?

Easy Loan Facility

In the past small and medium-sized businesses have faced various hurdles while trying to get loans from banks. However, udyam registered businesses can get easy and collateral-free loans from banks and financial institutions. Additionally, loans are offered at a subsidized rate of interest to MSME registered businesses.

Rebate on TM and Patent application

Government fees on Trademark applications for entities such as Companies, Partnership firms, and LLPs are higher compared to individual and proprietorship firms. These entities may claim a 50% rebate on the Government fees by submitting an MSME registration certificate. Similarly, a rebate is prescribed in Patent registration also.

Hassle-free Registrations

Businesses with Udyam/MSME registration are granted hassle-free registrations/licenses with government tender work and financial agencies. Additionally, they are also eligible for subsidized rates for other government registrations. For example, ISO certification is granted free of cost to all Udyam registered businesses. They are also eligible for a subsidized rate for barcode registration, etc.

Concession Rate on Various Utility Bills

Businesses are granted concessions on utility bills such as electricity bills, water bills, gas bills, etc. This is particularly helpful for businesses involved in manufacturing. In certain situations, registered businesses are also eligible for rebates on their electricity bill.