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MSME Registration (Udyam Reg)
MSME Registration (Udyam Reg)
MSME registration helps the Micro, Small and Medium (MSME) industries to obtain various benefits provided by the Government for their growth. In a developing country like India, MSME industries are the backbone of the economy. When these industries grow, the country’s economy grows and flourishes. These industries are also known as small-scale industries or SSIs.
The MSME registration is not yet made mandatory by the Government of India but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.
The following is the current revised MSME classification, where the investment and annual turnover are to be considered for deciding if an entity is considered as an MSME:
| Revised MSME Classification | |||
| Criteria | Micro | Small | Medium* |
| Investment & Annual Turnover | < Rs.1 crore & < Rs.5 crore | < Rs.10 crore & < Rs.50 crore | < Rs.50 crore & < Rs.250 crore |
Documents Required for MSME Registration
The MSME registration documents are as follows:
- Aadhaar card
- PAN card
There are no MSME registration fees and it does not require proof of documents. PAN and GST-linked details on investment and turnover of enterprises will be taken automatically by the Udyam Registration Portal from the Government databases since the portal is integrated with Income Tax and GSTIN systems.
GST registration is not compulsory for enterprises that do not require a GST registration under the GST law. However, enterprises that mandatorily need to obtain GST registration under the GST law must enter their GSTIN for obtaining the MSME Registration.
Who can apply for Udyam Registration?
- Individuals, start-ups, business owners, and entrepreneurs
- Private and public limited companies
- Sole proprietorship
- Partnership firm
- Limited Liability Partnerships (LLPs)
- Self Help Groups (SHGs)
- Co-operative societies
- Trusts
E-TAX HUB INDIA can help you get UDYAM registration and tracking purchases, filing GST returns, and generating GST eWay bills.
