MSME or UDYOG AADHAR
In 2006 the government of India introduced an Act to promote entrepreneurship. In this Act the government provides special benefits to small businesses in the form of subsidies and incentives. Also, banks give loans at concessional rates to set up these businesses. This Act is called MSMED or Micro, Small and Medium Enterprise Development Act, 2006. Entities that are registered in MSME are entitled advantages such as power tariff subsidies, capital investment subsidies, exemption from excise and direct taxes, and many others. These enterprises also get an additional benefit of priority
sector lending.
Benefits of MSME
MSME registration is simple and easy to obtain online and is provided free of cost by the Government. There are many benefits of obtaining MSME registration, which can be only availed if the business is registered as an MSME.
Following are the few benefits of MSME mentioned below:
- Lower interest rate on bank loan
- Several tax subsidies
- Many advantages in government tenders
- Government micro business loans and other such related beneficial schemes
- For all non-paid amounts of MSMEs, there is a One Time Settlement Fee
- Subsidy on patent registration
- Concession on electricity
Documents Required for MSME Registration
- Documents Required for MSME Registration
- Identity proof:
- PAN
- Aadhar Card
- Mobile Number
- Address Proof for Place of Business.
- Bank Account Statement/Cancelled Cheque
- National Industrial Classification (NIC) Code
- Identity proof:
- Private Limited Company:
- Memorandum and Articles of Association;
- Form-32 and Form-18;
- Certificate of Incorporation
- Partnership Firm:
- Partnership Agreement / Deed
Classification
Investment
Turnover
- ClassificationMicro
- InvestmentNot more than Rs.1 crore
- TurnoverNot more than Rs. 5 crore
- ClassificationSmall
- InvestmentNot more than Rs.10 crore
- TurnoverNot more than Rs. 50 crore
- ClassificationMedium
- InvestmentNot more than Rs.50 crore
- TurnoverNot more than Rs. 250 crore
Standard Other Registrations or Licences We Provide
PAN Registration
A PAN or Permanent Account Number is an important document all taxpayers must possess, as mandated in the Income Tax Act of 1961.
Learn MoreTrademark Registration
A trademark is a unique symbol or word(s) used to represent a business or its products. Once registered, that same symbol or series of words cannot be used by any other organisation, forever, as long as it remains in use and proper paperwork and fees are paid.
Learn MoreShops & Commercial Establishment Registration
Shop act registration is to be taken compulsorily to start business establishment. Details of personal employed are to be given on yearly basis.
Learn MoreProfessional Tax Registration
Professional Tax Registration is levied by Municipal Corporations of various states in India. People who carry the profession such as CA (Chartered Accountant), Lawyers, Doctors, Business Owners etc need to pay these taxes. The owner of a business is responsible to deduct professional tax from the salaries of its employees.
Learn MoreUdyog Aadhar (MSME) Registration
MSME Registration helps you to receive payment on time from large companies as they have to pay MSME Vendor within 45 days. Plus, you get benefit at the time of taking a loan in form of concessional rate of interest.
Learn MoreGST Registration
Any person or entity supplying goods or services in India above the aggregate turnover limit (INR 20L for Service and INR 40L for Goods) is mandatorily required to obtain GST registration. For certain businesses such as Interstate Supply, E-Commerce Operators registration under GST is mandatory irrespective of turnover limit.
Learn MoreTAN Registration
The Tax Deduction and Collection Account Number (TAN) is required for people who are deducting or collecting tax at source. Anyone paying a salary or commission is required to get a TAN.
Learn MoreFSSAI Registration
Every food business operator (FBO) involved in the manufacturing, processing, storage distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from FSSAI License in the sense that depending on the size and nature of the business, FBO should obtain the necessary registration or license.
Learn MoreDisclaimer:
- Turnover of up to 10 Lakhs per quarter or 20 entries.