Udyam / MSME Registration

Any person who intends to establish a micro, small or a medium enterprise may apply for online Udyam Registration on the Udyam Registration portal based on self-declaration. No documents, proofs or certificates are required to be uploaded.

The Ministry of Micro, Small and Medium Enterprises on 26^th June, 2020, notified revised classification of Micro, Small and Medium Enterprises. Accordingly the classification of Micro, Small and Medium Enterprises is as below:

For the purpose of calculating the investment in plant and machinery or equipments, below mentioned points should be considered:

• The investment in plant and machinery or equipments is to be considered as per the last Income Tax Return.
• In case where there is no income tax return filed by the entity, the investment in plant and machinery or equipments has to be self declared by the promoter. In this case the GST portion of the cost should be excluded.
• Turnover of the entity as per the GST Returns will be considered
• For the purpose of calculation of turnover, the export turnover of goods or services will be excluded

Some of the main benefits of Udyam Registration / MSME Registration are listed as below:

• Banks may provide collateral free loans to Udyam Registered entities;
• Udyam Registered businesses are eligible to get Credit Linked Capital Subsidy;
• Udyam Registered businesses are eligible to get subsidy on credit rating;
• Udyam Registered businesses are eligible to get discount of Trademark & Patent filing fees;
• Udyam Registered businesses are eligible to get electricity at concessional rate;
• Udyam Registered businesses get protection against delayed payments;
• Udyam Registered businesses are offered reimbursements on Bar Code use