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Want to be an entrepreneur ? Start with MSME Registration!

Introduction

MSME Registration is denoted by the registration for Micro, Small and medium enterprises registered in India having manufacturing and services related business. Recently in order to promote the Atamnirbhar Scheme the government of India has decided to amend the limit or provided new guidelines for classification MSME enterprises. Below mentioned is the classification of MSME enterprises.

Classified As Maximum Investment In Plant & Machinery Or Equipment Maximum Turnover
Micro Enterprise Rs. 1 Cr Rs. 5 Cr.
Small Enterprise Rs. 10 Cr Rs. 50 Cr
Medium Enterprise Rs. 50 Cr Rs. 250 Cr

MSME registration benefits are only available to Manufacturing and Service sectors. No traders or re-packers are allowed to register themselves under MSME.

HIGHLIGHTS FOR MSME UNDER AATM NIRBHAR BHARAT ABHIYAN

Key Features- A simplifier approach!

  • Focus of the Abhiyan is Collateral free or third party guarantee free loan upto INR 100 lakh to MSME holders.
  • Global tender are disallowed by the government costing upto INR 200 Crores to promote Self Reliant India and Make in India Scheme.
  • New and wider scope definition or limits has been announced for MSME's.
  • Scheme launched for Debt Stressed MSME's so as to establish them in the market again.
  • To replace the trade fairs and exhibitions, E-Market will be linked with MSME for their promotion of business.

BENEFITS

MSME Benefits the top of the heap!

Rebate on Trademark Government Fee

The government fee for applying Trademark application, for any type of body corporate whether company, registered partnership, LLP, Trust or society etc having MSME Registration, shall get reduced.

Subsidy on Patent Registration cost

The actual cost or expenses incurred at the time of registration of patent can be reimbursed to MSME holder entity whether individual or body corporate who are also registered at MSME ‐Data Bank.

Loan Facility

Time to time Government is providing many schemes to promote MSME registered entities so as to achieve the goal of Atmanirbhar Bharat. One of the loan facilities available for MSME is 59 minutes PSB loan in which entity will get In-Principal Approval within 59 minutes by just submitting few documents.

Government Tender Benefits

Many of the government tenders only allow to those entities that are in existence since 2-3 years from incorporation. However for promoting Atamnirbhar Bharat they are exempting this eligibility for new startups and MSME holder entities.

Higher Interest on Delayed Payments of MSME holder

This is the new initiative taken by the government that if any buyer have purchase the goods or taken services from MSME holder must have to make the payment to supplier within the agreed stipulated time or within 15 days from which buyer had received the goods or services.

If buyer fails to do the payment within the stipulated time or delays the payment for more than 45 days than the buyer has to pay the compound interest of 3 times the actual interest rate that is notified by Reserve Bank of India till the date he continue to make this default.

ISO Certification Reimbursement charges

Every MSME holder having ISO 9000 /ISO 14001/ HACCP certification may reimburse registration charges up to 75 % or upto INR 75000/- subject to fulfill some conditions.

Myths

Myths eats the clarity

Process of MSME Registration

The easier way to enjoy the MSME Registration process.

  • Validate your Aadhar and PAN details.

  • Submit the necessary details like Turnover, ITR, Number of Employees etc.

  • Udyam Registration will get generated.

  • After scrutinizing or validating the documents within 3-4 working days MSME certificate will get generated.

Documents Required For MSME Registration

Correct documents just what you need!

  • Certificate of Incorporation, MOA, AOA, PAN in case of company.
  • Certificate of Incorporation, LLP Deed, PAN in Case of LLP.
  • Aadhar card copy and Pan copy of Directors, Designated Partners, proprietor etc.
  • GST Certificate, if applicable. (Mandatory for Company, LLP)
  • Electricity Bill of office address and Plant Address, if different.
  • Cancelled cheque copy of current account of business.
  • ITR form, in case of existence business.

Conclusion

Conclusion- the right ending! Be inspired by the Conclusion

It is correct to conclude that MSME's are providing their contribution in the GDP of our country and now the government has taken measures to support such businesses. MSME registration can be taken by any eligible entity. Neusource is providing one stop solutions to all the startups that are willing to contribute to our nation and wiling to surpass their limits. We are pleased to take care of all the queries of our client.

Submit Document here

Face less burden with MSME registration

FAQ's

FAQs outshine's the rest.

  • Do we need to show GSTIN while doing MSME Registration?

    Yes, from 01.04.2021 it is mandatory to show GST for any type of business.

  • Do we need to submit any Documents for registering in MSME?

    No, we need not to require submitting any documents as the registration in linked with PAN, ITR and GST department. All the necessary information will get verified from the department itself.

  • How many Udyam registration one enterprise can hold?

    Only one, No enterprise shall have more than one Udyam Registration for its enterprise.

  • Does existing MSME Holder need to register themselves in Udyam Registration Portal?

    Yes, every existing MSME holder need to register themselves before 31.03.2021 otherwise there MSME registration certificate shall get cancelled.

  • Is it required to have Aadhar number for registering in MSME?

    Yes, Aadhar is the basic mandatory documents for having registration in MSME.

  • Do we need to show the ITR copy or details for registering in MSME?

    Yes, If your business is in existence from last year and is eligible for ITR filing, than it is required to validate your ITR details as well. If the business is newly incorporated than no need to show the details.

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