MSME Registration
Is MSME registration same as Udyog aadhar Registration?
Yes, MSME and Udyog Aadhar are one and the same. It can be applied completely online and can be obtained in 24 hours.
What are the documents required for getting a Udyog Aadhar or MSME registration?
Aadhar card of proprietor/director/partner is a mandatory requirement for obtaining the MSME registration. Along with Aadhar we need the Pan and bank account details of the company whose udyog aadhar is to be applied. The Pvt Ltd details can be found here.
How much time does it take to generate the udyog aadhar and cost for the same?
We can get the Udyog Aadhar in 24 hours and the charges are Rs 1500/application.
- Collateral free loan and moratorium upto 1 year for MSME who have borrowed ith up to Rs 25 crore outstanding and Rs 100 crore turnover are eligible.
- These loans will have a 4 year tenure and moratorium for 4 months. There will be a 100% credit guarantee cover and to Banks and on principal and interest and the scheme can be availed till October 31, 2020.
- MSME stands for micro, small and medium scale enterprises. As per the recent RBI report MSME’s contribute around 70% for employment generation in our country. MSME also significantly contributes to the GDP of our country. To encourage MSME government has launched many schemes. To avail the benefits of such scheme its necessary that you have a MSME registration.
- Every company whether manufacturing or service industry, can obtain MSME registration. Its not mandatory but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of reduction in government fees, tenders, subsidies, setting up the business, credit facilities, loans etc.
- The sole objective of MSME is to facilitate and promote micro, small and medium enterprises.
What are the benefit announced for MSME by Modi government recently?
New announcement for MSME by FM Sitharaman announced on 13th May 2020 are as follows:The classification is done on the basis of investment and turnover as follows as per new announcement by Government in May 2020 :
| Nature | Micro | Small | Medium |
| Manufacturing Enterprises |
Investment < 1 crore and turnover < 5 crores |
Investment < 10 crore and turnover < 50 crores |
Investment < 20 crore and turnover < 100 crores |
| Service Enterprises |
Investment < 1 crore and turnover < 5 crores |
Investment < 10 crore and turnover < 50 crores |
Investment < 20 crore and turnover < 100 crores |
- It’s a one page application form and can be found on https://msme.gov.in/
- The document required for the registration is Personal Aadhar number, Industry name, Address, bank account details and some common information..
- In this, the person can provide self-certified certificates.
- There are no registration fees required for this process.
- Once the detail-filled and upload you would be getting the registration number.
What is the registration process for MSME?
The registration is obtained right at the time of form submission.
How much time does it take to get a MSME registration?
The MSME registration can be completed in 1 working day.
What are the benefits of registering for MSME?
- The trademark registration fees for MSME registered entities is Rs 4500 as compared to Rs 10000 for non-registered entities
- MSME registered entities get cheaper loan as compared to non-registered entities
- There are many government tenders which are only open to the MSME registered companies.
- They get easy access to credit.
- Once registered the cost getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available.
- Business registered under MSME are given higher preference for government license and certification.
- There is a One Time Settlement Fee for non-paid amounts of MSME.
- To have access to the government subsidies its mandatory to have a MSME registration.
- Government also provides some assistance to woman entrepreneurs, to avail those its necessary ho have a MSME registration.
What are the MSME schemes launched by the government?
Zero Defect Zero Effect:
In this model, goods that are manufactured for export have to adhere to a certain standard so that they are not rejected or sent back to India. If MSME manufacture these standard goods then they are eligible for some rebates and concessions.
Quality Management Standards & Quality technology Tools:
Government arranges various workshops, seminars and courses to educate MSME about the quality management standards.
Grievance Monitoring System:
The MSME’s have a online portal of registering a complaint regarding any department
Incubation:
This scheme helps innovators with the implementation of their new design, ideas or products. Under this from 75% to 80% of the project cost can be financed by the government. This scheme promotes new ideas, designs, products etc.
Credit Linked Capital Subsidy Scheme:
Under this scheme, new technology is provided to the business owners to replace their old and obsolete technology. A capital subsidy is given to the business to upgrade and have better means to do their business. These small, micro and medium enterprises can directly approach the banks for these subsidies.
Women Entrepreneurship:
This scheme is especially started for women who want to start their own business. The government provides capital, counseling, training and delivery techniques to these women so that they manage their business and expand it.
The government has launched a number of more schemes and support system for these enterprises. To know more about the MSME schemes.
