MSME Registration in Uttar Pradesh

Overview of MSME Registration in Uttar Pradesh

Micro, Small, and Medium Enterprises promote Industrial development and provide several benefits to the country's economy. They are involved in the Manufacturing, processing, and production of goods and commodities.

MSMEs need to register on a compulsory note to function in any business in India. This procedure of registration will help the Mini, Small and Medium enterprises to grow.

It is necessary to register MSME under the Micro, Small and Medium Enterprises Development Act, 2006. An Aadhar Number is required for online procedures, Registration is important because it encourages start-ups and other business ideas that are small in budget.

Benefits of MSME Registration in Uttar Pradesh

The MSME Registration could be beneficial for the Entrepreneur because-

• U.P.  has the highest MSME count, i.e., 90 Lakh which covers the 14% of the total MSME of India. (Total MSME count in India is 6.33 Crore.)

• The Micro enterprises in Uttar Pradesh are 89.64 Lakh, while the Small Enterprises are 0.36 Lakh.

• The MSME registration opens the door to government schemes that could be in favour of Low-budget enterprises.

• Registration helps in utilising a government security deposit waiver, which is beneficial for e-tenders.

• Export-oriented nature of many MSMEs has markedly enhanced the state’s foreign exchange earnings.

• Unlike states, the Pradesh government helps with financial security, enhancement of infrastructure, and promotion the valuable innovation. 

• The state government of U.P. offers Chief Minister Udyam Bima to MSME Entrepreneurs.

• It also provides 2.4 million beneficiaries for registration.

• It provides, tax deductions, exemptions and subsidies

• Interest is lowered on credit guarantees and loans.

• Extended Minimum Alternate Tax (MAT) from 10 years to 15 years.

• Government Incentives and Subsidies.

• One-time settlement scheme.

Fees for MSME Registration in Uttar Pradesh

There are no government fees asked for MSME Registration in Uttar Pradesh, but the Professional fees for the professional service can be charged, which may range between ?1,000 to ?3,000. Online companies or sites which are authorized online, complying with the laws of India provide the service of Professional Registration to the Entrepreneur.

Eligibility for MSME Registration in Uttar Pradesh

Eligibility criteria for entities to get registered under MSME:

The entities must be Individuals, entrepreneurs, start-ups etc.

• Only private and public limited companies.

• Sole proprietorship.

• Limited liability partnership (LLP).

• Self-help groups (SHGs).

• Trusts.

• Co-operative societies.

• The investment must not cross ?50 Crore in Medium Enterprises Crore for Small enterprises, and ?1 Crore for Micro enterprises.

• Turnover must not exceed ?5 crore in Micro enterprises, ?50 crore in small enterprises, and ?25 crore in medium enterprises.

Documents Required for MSME Registration in Uttar Pradesh

To registregisterentities in Uttar Pradesh, the following documents are very important:

• Owner’s Aadhar number.

• Authorized signatory of the enterprise.

• Certificate of Incorporation.

• GSTIN (if applicable).

• PAN card of the enterprise.

• Business residencia proof (some telephone or electricity bill receipt).

• MOA of the company.

• Detail of the Bank Account.

• NIC-2-Digit code.

• Infrastructure detail.

• Turnover detail.

• Partnership deed.

• Sales and Purchase copies of bills.

• Licenses copies and the Purchased machinery Bills.

Process to Apply for MSME Registration in Uttar Pradesh

If you need to register the MSME on Udyam Registration Portal- 

• MSME Registration can be done on the Online portal of Udyam https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm 

• On the portal, two options are provided:

1. Udyam Registration for MSMEs and

2. Udyog Aadhaar Memorandum (UAM) for the registered MSMEs.

• For the Registration for fresh MSMEs opt for the first option. New Entrepreneurs and one having EM-II registration have to click on- “For New Entrepreneurs who are not Registered yet as MSME or those with EM-II”

• Fill in the name of the entrepreneur and Aadhaar

• PAN number and Type of Organization

• Post PAN verification, Fill up enterprise and personal details.

• Detail of Turnover and Investment

• When it is approved, download the Udyam Registration Certificate.

Conclusion

One of the most crucial parts of managing a micro and small business in India is registering as an MSME since it provides a plethora of advantages and government support possibilities.  The new Entrepreneur who need guidance and financial support for their start-ups and business gets the most benefit from MSME registration. Because MSME is not a narrow field of business, it is very broad and comes with many benefits. It plays a very crucial role in Supporting India’s economic growth. Many MSME professional supporter companies may offer overdraft facilities for urgent business capital requirement.

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Author:

Sonam Srivastava
Delhi, India
LLB (HONS.) Amity University, Noida