MSME Registration is playing very important role for the small and medium business across India.
Numerous surveys show that country’s true economic growth reckoned not just on its large-scale industries and foreign investments but also on its small and medium level industries that also includes various cottage industries operating in India.
By looking towards the developing country like India whose economy is basically dependent on agriculture and small-scale industries, applying for MSME registration or SSI Registration could be considered as its backbone.
In India, every state has its own tradition and culture which they follow and become eminent in that kind of industry.
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The user will need to provide their 12-digit Aadhaar Number
The user will need to provide their PAN Card Number
The user will need to provide their Bank Account Number
A company can be registered in India, by at least seven persons, who shall act as the shareholders of the company. There is no limit on the number of shareholders and the minimum director required is 3 which cant exceed 15 directors.
One director of the company must be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases
Invest as per requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee on company registration is calculated on the capital
A micro, small and medium enterprise (MSME) is classified as below-
Classification | Investment in plant and machinery or equipment | Turnover |
---|---|---|
Micro enterprise | Not more than INR 1 Crore | Not more than INR 5 Crore |
Small enterprise | Not more than INR 10 Crore | Not more than INR 50 Crore |
Medium enterprise | Not more than INR 50 Crore | Not more than INR 250 Crore |
The new MSME registration process is completely online, paperless and based on self-declaration. No documents or proofs are required to be uploaded for registering an MSME. You may still need an Aadhaar card, Pan Card and Bank account details while form filling
Tax Benefits
Easy Clearance of Pending Payments
50% discount on trademark and Patent Fees
Lesser Interest Rates For Bank OverDraft(OD)
Eligible for Mudra Loan Scheme
Apply Government Tenders Easily
Visit LegalDocs and get Udyam registration done in a simple procedure. Read our section on “How to Register MSME using Udyam Registration Portal?” to directly register on the portal.
Yes, Udyam registration is mandatory in India.
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