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MSME or Udyog Aadhar Registration

Do you run a small business? Get MSME registration to get Government benefits.

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Description

What is MSME? 

On the basis of the size of the enterprises it is classified into three categories i.e. Micro, Small & Medium enterprise, which is Known as MSME.

 

Classification of Enterprises      

The enterprises are classified on the basis of turnover & investment in plant & machinery.

There are 3 types of enterprises:

Composite criteria of Investment & Turnover

  • A composite criterion of investment & turnover will apply for classification of enterprise into micro, small & medium.

  • It means that, if either of the criteria does not satisfy and exceeds the maximum limit. The enterprise ceases to be the part of that category and will fall in the higher category.

  • But, if any of the criteria go below the ceiling limit of the lowest classification, in that class enterprise will not fall under the lower category.

  • The investment & turnover values for the enterprises having GSTIN against the same PAN shall be seen together for the criteria of micro, small & medium enterprise.

 

How to calculate investment in Plant & Machinery?

The term “Plant & Machinery” shall have the same meaning as in the Income tax Rules, 1962. The following image summarises the manner in which the investment in plant and machinery is calculated. 

How to calculate turnover of the enterprise?

  • Export of services or both shall be excluded while calculating turnover of the firm.

  • Information regarding turnover or export turnover shall be linked to the Income Tax Department or GSTIN.

  •  Turnover figures of those firms not having PAN shall be considered on the basis of self declaration up to 31st March, 2021, and thereafter it is mandatory to have PAN and GSTIN.

On successful completion of registration, an e-certificate, namely, “Udyam Registration Certificate” shall be issued on completion of the registration process having a permanent identity number to be known as “‘Udyam Registration Number”.

What is Covered
  • Filing of application with the Government Authority

  • Compiling and verifying the documents & Information to be submitted with the authorities

  • Responding to queries, if any

What is not Covered

Nothing really, everything is covered. :)

Information guide

Following documents are required for MSME registration:

  • Aadhaar card 

  • Of Individual in case of proprietorship

  • Of Authorised Signatory (Partner/Designated Partner/Director as the case may be) in other cases

  • PAN card of the organisation

  • Certificate of Incorporation in case of LLP & Company / Partnership deed in case of partnership firm

  • A firm requires its business address proof. 

  • For already existing firms:

  • For registration the copies of sale bill and purchase bill are also required.

  • Copy of licenses and bills of machinery purchased is also required for registration.

  • Values of investment & turnover as per latest Financial statements.

Estimate Time to Complete

3 Days

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