The government of India came up with MSME (Micro, Small, and Medium Enterprises) in agreement with the Micro, Small, and Medium Enterprises Development (MSMED) Act of 2006. Such enterprises are generally engaged in the manufacturing, processing, or preservation of various commodities and goods.
MSME’s are the backbone of the Indian economy as they are an essential sector for the Indian economy, and they have contributed extremely to the country’s GDP and socio-economic development by generating employment opportunities, especially in backward and rural areas.
Process of registration MSME registration can be done entirely online and can be done on the government portal of udyamregistration.gov.in. The registration of MSMEs can be done under the two categories on the portal:
For new entrepreneurs who are not registered yet as MSME or those with EM-II; and
For those having registration as UAM and for those already having registration as UAM through assisted filing.
For new entrepreneurs who are not yet registered as MSME or those with EM-II Steps to be followed:
After choosing the option for new entrepreneurs who are not registered yet as MSME or those with EM-II, verify aadhaar card no. & PAN no. through OTP.
Fill in relevant personal details and details of the business in the form.
Once all the details on the MSME registration form are filled in, the submit and get final OTP” button is to be clicked. Finally, the message of successful registration and reference no. will be displayed on the screen.
The udyam registration certificate is issued.
For those having registration as UAM and for those already having registration as UAM through assisted filing “Udyog aadhaar” registration has been replaced with “Udyam registration”. Udyam registration is the new process launched by the ministry of micro, small, and medium enterprises for MSME/udyog aadhaar registration, which became effective from July 1, 2020.
Steps to be followed:
After choosing the option for those having registration as UAM and for those already having registration as UAM through assisted filing, fill in details of the same aadhaar as of UAM and verify OTP either on mobile or email id.
Fill in the relevant details in the MSME registration form, and registration will be completed.
Points to be considered
MSME registration does not require any proof of documents. PAN and GST linked details on turnover and investment of enterprises will be verified automatically from the government databases.
GST registration is not mandatory for obtaining udyam registration; however, if enterprises compulsorily need to obtain GST registration under the GST regime then, GST registration is required for obtaining udyam registration.
Those who have UAM registration or any other registration issued by any authority under the Ministry of MSME will have to re-register themselves in the udyam registration portal.
There are no charges for submitting the MSME registration form.
The Ministry of MSME will issue an MSME certificate to the email ID of the entrepreneur after verification of the registration form submitted on the portal.
MSME’s have also played a great role in promoting the legacy of our great nation. For all these reasons and more, MSME’s are extremely crucial. And the Ministry of MSME’s offers so many schemes and benefits to MSME owners to make business as lucrative as possible yet stable.
At Itseki Mercurius India, we assist our clients in MSME registration services, Gem registration, TREDs registration, updating details of MSME registered entity and re-registration of UAM registered entities on the new portal, providing them with adequate support and guidance from our end. If you have any questions or wish to know more about MSME registration, kindly contact us.