Udyam Registration (MSME Registration)

According to a statement from the Ministry of Micro, Small and Medium Enterprises dated June 26, 2020, Udyam Registration is a new Registration process which was started in the year 2020.Udyam Registration, also known as MSME Registration, is a government-issued registration that comes with a certificate of recognition and a unique 19-digit Udyam Registration Number. This is for the purpose of certifying small and medium-sized businesses or organizations. The entity's owner, director, or proprietor must provide his or her 12-digit Aadhar Number.

Types of Businesses (Manufacturing and Service Industries, Both)

1. Micro Enterprises: - With a minimum capital investment of up to Rs 1 crore and a maximum turnover of up to Rs 5 crore.
2. Small Enterprises: - With a minimum capital investment of up to Rs 10 crore and a maximum turnover of up to Rs 50 crore.
3. Medium sized Enterprises: - With a minimum capital investment of up to Rs 50 crore and maximum revenue of Rs 250 crore.

Document required for getting registered under Udyam registration

• The Udyam registration process is entirely online, without the use of paper, and is based on self-declaration.
• There are no documentation or proof requirements for registering an Udyam .
• For registration, only the Adhaar Number will sufficient and one mobile number for OTP Verfication.
• PAN and GST-related information on investment and turnover of businesses would be automatically retrieved from government databases.
• From April 1, 2021, having a PAN and a GST number is required.

Benefits for Getting Registered Under Udyam Registration Certificate

Following are the benefits of Udyam Registration:-
1. Getting government contracts is easier with Udyam registration.
2. Bank loans become cheaper as a result of the Udyam since the interest rate is very low (up to 1.5 percent lower than conventional loans).
3. Udyam is eligible for a variety of tax benefits.
4. Obtaining licences, approvals, and registrations becomes less difficult, regardless of the industry.
5. For government licences and certification, enterprises registered under Udyam are given higher priority.
6. Registration helps in lowering the cost of obtaining a patent or starting a business.

RS Professional and Associates is one of the reputed Udyam (MSME) Registration Company in Noida. As a leading CA firm in Noida, We have over 15 years of excellence with over 500+ satisfied customers.

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