Poddar Techno Services

MSME Registration

Udyam / MSME Registration

MSME stands for micro, small and medium enterprises. Now new name specified by the govt to MSME, It is Called UDYAM Registration. if anyone registered in old MSME he also can migrate to Udyam Registration. These small scale industries are the backbone of a developing country like India. MSMEs are small business entities that are referred to as an engine of economic growth due to their contribution to employment, exports and production, and GDP. The Government of India supports and Promotes SMEs through various schemes and offers which include cheaper bank loans, tax rebates, setting up the business, and easy access to credit under the MSME Act.

MSME registration or Udyam Registration can be availed by enterprises working in both manufacturing as well as in the service sector.

Top Benefits of MSME

  • Bank loans become cheaper.
  • Various tax rebates and Concession
  • Credit Settlement carried forward for up to 15 years instead of 10 years
  • Privilege in government tenders
  • Electricity Bill Concession
  • Business registered under MSME is given higher preference for government license and certification.
  • One Time Settlement Fee for non-paid amounts of MSME.
  • Collateral Free for Bank Loan
  • 50 % subsidy in Patents  and Trademark Registration
  • Top Benefit of MSME Registration
    Procedure of MSME Registration in India

    MSME Registration Procedure

    • To do the registration the small and medium-scale industry owner has to fill a single form that he can do online as well as offline.
    • If a person wants to do registration for more than one industry then also he/she can do individual registration.
    • To do the registration he/she has to fill a single form that is available on the website which is listed below.
    • 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.

    Documents Required

    These Documents are required for MSME Registration

    • ADHAR card of the Applicant (Proprietor/ Partner / Director)
    • Name of Applicant
    • Caste
    • Business Name
    • Type of Business Entity
    • Address of the Plant
    • Address of the Office
    • Date of Commencement of the Business
    • Bank Details (Account No. and IFSC code)
    • Business Activity Details
    • Number of employees
    • Investment in Plant and Machinery and Equipment
    • Photo and Id Proof of Applicant
    • Mobile No. of Applicant (Linked with ADHAR)
    • Email Id for OTP Verification

    Frequently Asked Question

    Any type of business can apply for MSME registration or MSME Certificate.

    SME is termed as Small and Medium Enterprises, whereas MSME has an addition of Micro along with SME to become Micro, Small and Medium Enterprise.

    Udyam Registration is MSME registration to start business under Ministry of Micro, Small and Medium Enterprises (MoMSME) approved by Government of India. Whereas MSME / Udyog Aadhaar is a 12-digit Unique Identification Number (UIN) provided by the MoMSME for Small and Medium Enterprises (SMEs).

    For MSME registration, Aadhaar card is mandatory.

    Yes MSME borrowers get collateral free loans from financial institutions

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    Yes, they can get collateral free loans if they opt for unsecured business loans and if they maintain good CIBIL score with decent financial and loan repayment history. Rest if depends on the eligibility criteria to be cleared by applicant defined by the respective bank.

    There are several reasons of rejection of MSME application like low CIBIL score, unpaid debts, loan defaults, low cash flow, lack of business plan, incomplete documentation, false information, etc.