Ask 4 Compliance | MSME/Udyog Aadhaar Registration
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MSME/ UDYOG AADHAAR REGISTRATION

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MSME/ UDYOG AADHAAR REGISTRATION

As a part of initiative to ease of doing business, Ministry of Micro, Small and Medium Enterprises vide its notification dated 18th September, 2015 notified Udyog Aadhaar Memorandum (UAM).

MSME stands for Micro, Small and Medium Enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector, MSME Registration is required.

Aadhaar Number is mandatory for Filing Udyog Aadhaar Registration. In case of Proprietorship concern the Aadhaar Number shall be of the proprietor, in case of Partnership firm the Aadhaar Number shall be of the authorized Partner, In case of other forms of enterprise the Aadhaar Number shall be of the authorised person. Using the same Aadhaar number a person can file more the one Udyog Aadhaar Memorandum.

Micro, Small and Medium sized enterprises in both the manufacturing and service sector can obtain MSME Registration under the MSMED Act. Though the MSME registration is not statutory, it is beneficial for business at it provides a range of benefits such as eligibility for lower rates of interest, excise exemption scheme, tax subsidies, power tariff subsidies, capital investment subsidies and other support.

Our team of highly qualified professionals at Ask4compliance.com can help your business obtain MSME Registration to avail a host of benefits.

Process & Timeline

0-1 days

Professional Fees

Rs. 1650

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Benefits of Having MSME/Udyog Aadhaar Registration Certificate

  • Benefits from Banks: All banks and other financial institutions recognise MSMEs and have created special schemes for them. This usually includes priority sector lending, which means that the likelihood of your business being sanctioned a loan is high, and lower bank interest rates. There may also be preferential treatment in case of delay in repayment.
  • Tax Benefits: Depending on your business, you may enjoy an excise exemption scheme as well as exemption from certain direct taxes in the initial years of your business.
  • Benefits from State Governments: Most states offer those who’ve registered under the MSMED Act subsidies on power, taxes and entry to state-run industrial estates. In particular, there is a sales tax exemption in most states and purchase preference on goods produced.
  • Credit Guarantee Scheme (CGTMSE): One of the major struggles that the small scale industries face is credit and input of income from various sources to support them. The Credit Guarantee scheme, introduced to support MSME, comes with modifications to make it more beneficial for small traders. The salient features of the scheme include:
  • Enhancing the optimal eligibility loan from Rs. 25 lakh to Rs. 50 lakh.
  • Reducing the one-time guarantee for loans availed of by the MSME in North-Eastern region of India from 1.5% to 0.75%.
  • Increasing the extent of guarantee cover from 75% to 80% for Women operated Medium and small scale enterprises.
  • Micro enterprises, for loans upto Rs. 5 Lacs.
  • Loans obtained in North Eastern region of the country: Reducing the one-time guarantee fee for all loans availed in North Eastern India from 1.5% to 0.75%.

Apart from these benefits, the government also continues, in a phased manner, to enhance the ‘List of products reserved for purchase from MSME’. Accordingly, the MSME is aided by the government to make use of these product lists, and manufacture and supply these products to large scale industries, and make profit in the process.

DOCUMENTS REQUIRED FOR REGISTRATION UNDER MSME

  • Aadhaar Card of the Director, partner, proprietor, Karta applying for the registration.
  • Social category of the applicant i.e., General / Scheduled Caste/ Scheduled Tribe / Other Backward Castes.
  • Name and type of Company/Organisation.
  • Complete Address of the organisation with pin code along with a copy of the address proof.
  • Business Commencement Date.
  • Details of previous MSME registration, if any.
  • Activity of the Company/firm i.e., the company is in manufacturing or service sector.
  • Details of employees along with their address in the.
  • E-Mail id and Mobile number of the firm/company.
  • Details of Bank account along with a Cancelled cheque.
  • Total Investment made on machinery and equipment by firm/company.

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