MSME Udyog Aadhar registration has been replaced by Udyam Registration with effect from 1st of July 2020 as per the notification dated 26th of May 2020.
The Ministry of Micro Small and medium enterprises notified certain criteria for classifying the enterprises as micro, small and medium enterprises and also specified the form and procedure for filing the memorandum, for both new and existing with effect from 1st of July 2020.
Classification of MSME
For Manufacturing and service sector both
Micro means an enterprise where investment in plant and machinery does not exceed 1 crore and Turnover does not exceed 5 crores.
For Manufacturing and service sector both
Micro means an enterprise where investment in plant and machinery more than Rs.1 crore but does not exceed Rs. 10 Crore and Turnover does not exceed 50 crore
For Manufacturing and service sector both
Micro means an enterprise where investment in plant and machinery more than Rs.10 crore but does not exceed Rs. 20 Crore and Turnover does not exceed 100 crore
The calculation of investment in plant and machinery or facilities would be based on the previous year's Income Tax Return (ITR), filed under the Income Tax Act, 1961. The above notice further clarifies that all tangible properties other than land and building & furniture and fittings must be included in the plant and machinery.
All units listed against the same Permanent Account Number (PAN) with Goods and Services Tax Identification Number (GSTIN) shall be collectively considered as one entity for turnover calculation and investment for category determination as micro, small or medium enterprise.
Any person wishing to create a micro, small or Medium-sized enterprises can file Udyam online in the Portal of Udyam Registration, based on self-declaration with No requirement to upload documents, documents, certificates or Proof. An enterprise (referred to as "Udyam") on registration in the permanent Udyam registration portal is assigned Identity number to be called "Udyam Registration' number. E-certificate, namely "Udyam Certificate of Registration" Is issued once the registration process is complete
a. Helps in getting a bank loan
The Government of India has made collateral-free finance facilities to the small and micro business entities. Banks and other money-related organizations, perceive MSMEs, have made excellent schemes for them. This more often than not removes the need for segment loaning, which implies a high likelihood of a credit being supported by your company and lower cost of bank financing.
b. Subsidy on Trademark registration and Patent registration
The government provide 50% of subsidy on the registration fee of trademark or patent registration on holding MSME certificate
c. Exemption on overdraft interest
Business registered under MSME will avail the exemption on the interest rate of OD which will differ bank to bank
d. Eligible to avail subsidy on industrial promotion
Business registered under MSME will get subsidy can for business promotion
e. Tax benefit
In the initial years of your company, you can enjoy an excise benefit scheme, as well as exemption from some direct taxes.
f. Government Tender filing
NSIC registered organization gets preference while seeking government tender and for NSIC Registration MSME is compulsory, indirectly MSME helps in seeking government tenders.
g. Concession on Electricity bill
a. Application for registration will be available on the Udyam registration portal
b. Enter your Aadhar number, Aadhar number of the proprietor in case of proprietorship business, Partners or manager in case of other forms of business.
c. In the case of company and LLP or trust or society, the organization shall provide its GSTIN and PAN along with its manager Aadhar
d. After entering the Aadhar detail the form will pop up and fill the all detail related to the organization and submit the form.
e. After submission, the organization will get a Udyam registration number.
f. No enterprise shall file more than one Udyam registration if any organization intentionally misrepresent or attempt to suppress the self-declaration facts and figure on registration or updation shall be liable to such penalty as specified under section 27 of the Act.
All the registered entity which has UAM number or registered under Udyog Aadhar registration shall register again on Udyam registration portal on or after 1st of July 2020
All enterprise registered till 30th of June 2020 shall be classified in accordance with this notification
The registered enterprise registered prior to 30th of June 2020 will remain valid for a period up to the 31st day of March 2021
An organization with Udyam registration number shall update through Udyam Registration system online database like details of ITR and GST Return for the preceding financial year, and Other additional information on self-declaration basis, as may be required. On the basis of information received or obtained from the Government Sources like the ITR or GST return, the enterprise is required to be updated
Failure of updation may lead to suspension of its MSME status.
We share the detailed and reasonable estimated costs, documents and prerequisites for the complete process before starting the process to ensure transparency.
Our team warrants hassle free documentation. We collect the necessary documents and share the relevant drafts to ensure a timely filing and delivery.
Upon collecting the necessary documents and information, we waste no time in preparation and filing of your application. development on your application is brought to your attention.
On successful completion of the case we share all the relevant documents electronically and physically along with an assurance to pay you back if something is wrong.
Registration for PF is compulsory for the companies / Organizations who employ 20 or more individuals. Also, a small organization that does not have the maximum Strength can register them voluntarily. The organization which grows to strength of 20 membersRead More
All the business which are operating in the market and want to get a legal existence and want avail benefits under MSME scheme can get register themselves under Micro, small and medium enterprise development act 2006 and as per government enacted act MicrRead More
In 2017 parliament if India has passed the Goods and Service Tax act (GST act) and this act came into effect from 1st July 2017. It’s an indirect tax which replaced many other prevailing indirect taxes in India. It is all in one tax which includes a vRead More
Startup means an entity, incorporated and registered in India which fulfils the following: Is any of the following Private Limited Company Public Limited Company Limited Liability Partnership Partnership Firm The annual turnover of the applicant sRead More
RNI stands for the Registrar of Newspapers of India. RNI registration is a mandatory requirement to start a business of newspapers, magazines or journals in India. In India all the publishing industry is governed under the press and books registration actRead More
In India, the real estate sector plays an important role in meeting the housing and infrastructure growth needs and demands. Although this sector has developed rapidly in recent years, it has been largely unregulated, given the absence of professionalismRead More
An autonomous body created by the law under the Ministry of Labour and Employment, Government of India is known as Employee State Insurance Corporation. This scheme is started for Indian workers. The workers get a huge variety of medical, monetary and othRead More
NSIC stands for National Small Industries Corporation. It is a Govt. of India enterprise with the aim of helping small and micro-entrepreneurs to flourish in business activities. NSIC operates through a countrywide network of offices and aims to promote aRead More
No person shall begin or carry on the export business of any spice, unless it has obtained registration under Spice board for making such export. The Spices Board is the regulatory and export promotion body for Indian spices under the Indian governmentRead More
Under Ayushman Bharat or National Health Protection Scheme, every qualifying family will receive an annual rs.5 lakh insurance premium Benefits under this scheme are not exclusive to any hospital or branch in question. The patient will benefit from anyRead More
The Legal Metrology Directorate is a separate government department of the Ministry of Consumer Affairs, Food and Public Distribution. Legal Metrology is responsible for the standards and regulations relating to measurements and weights of measuring instrRead More
A Free Sale Certificate (“FSC”) is a certificate issued by the national regulatory authority of the exporting country on the basis of national legislation stating that the product is freely available in the country but without any confirmationRead More
MSME udyog aadhar registration has been replaced by Udyam Registration with effect from 1st of July 2020 as per the notification dated 26th of May 2020. The Ministry of Micro small and medium enterprises notified certain criteria for classifyingRead More
Pursuant to the amendments in the 1975 Professional Tax Act , a person (natural / legal) registered under the MGST Act is liable to register for Professional Tax Enrollment Certificate (PT-EC) and pay Rs.2500 annually. Furthermore, if the business has anyRead More
PSARA License is a prerequisite before any person in India starts a private security company. The Private Security Agency is an entity involved in providing security guards and other related services as an alternate to the police at an establishment. TheRead More
Registration and regulation of clinical establishments are provided for in the Clinical Establishments Act. Health facilities throughout the country with a view to prescribing essential care Minimum criteria for special kinds of facilities and servicesRead More
Pursuant to the 1948 Factory Act, it is compulsory for each factory owner to register their premises with local authorities before starting a business. Factory License acts as an approval document provided by authorities to carry out manufacturingRead More
Uniquely repurpose strategic core competencies with progressive content. Assertively transition ethical imperatives and collaborative manufactured products.Write About Us
© 2023 Corpzo Ventures Private Limited.