MSME Registration Online

What is MSME Registration? 

MSME is an abbreviation that stands for Micro, Small, and Medium enterprises. It is a government scheme that aims at providing various kinds of benefits to small and medium-scale entrepreneurs to elevate their business in a highly competitive world.

It is classified under two leading categories which are: 

• Manufacturing enterprises.

• Service enterprises. 

If the MSME registration is completed, the entrepreneurs are eligible to get loans and eminent aid for setting up their businesses by removing any financial problems. 

Who can apply for MSME Registration?

The following entities can apply for MSME Registration: 

• Partnership firms 

• Cooperative societies

• Self-Help Groups (SHGs)

• Limited Liability Partnerships (LLPs) 

• Private and public limited companies 

• Individuals, Startups, Business owners & entrepreneurs

• Trusts, and many other entities

The criteria for eligibility for any manufacturing or service enterprises are determined through their Investment and Annual Turnover, given in the table below: 

How to get MSME Registration? 

MSME Registration is a simple and hassle-free process. You just have to visit the official website of the Scheme, which is -  udyamregistration.gov.in. After reaching the website, you will see instructions on the main screen, put in your category, and perform the functions as said.  The registration is done under two different categories; 

1.    For entrepreneurs who are not registered as MSME before and are registering for the first time. ( newbies)  

2.    For those entrepreneurs who are already registered as UAM or EM-II and those having registered through an assisted filing. 

The basic process for registration is as follows: 

• Step 1: Fill out the MSME Registration form, with the required appropriate details on the official website. 

• Step 2: When you have submitted the form with your documents attached.

• Step 3: You will receive a registration number. 

• Step 4: The authority will register your business as MSME within a few working days. 

• Step 5: A MSME Registration certificate will be delivered to you by mail to your registered email address. 

How to check the MSME Registration status by your name and reference number? 

Below are the steps to review the status of your application through name and registration number: 

• Step 1: The first and foremost step is to visit the official portal.

• Step 2: You will now have to enter the 12-digit UAM number which was allotted to you during the registration process, followed by putting the verification code displayed in the captcha image. 

• Step 3: click on the “verify” button and the status of your MSME Registration will appear on the screen. 

Merits of MSME Registration: 

There are a lot of other benefits and advantages of MSME Registration. The top-most are as follows: 

• Granted exemption under direct tax laws. 

• You receive compensation for ISO certification expenditures 

• You can avail of loans at low-interest rates. 

• A major help in getting government tenders. 

• Being a registered MSME, you get tariff subsidies and tax/capital subsidies 

• It becomes quite easy for you to get licenses, other registrations, or endorsements.

• Aid in getting government tenders. 

• A shield for your business in case of delayed payments. 

Conclusion: 

Enlisting with MSME is a simple and hassle-free process, while it is mandatory for businesses and entrepreneurs, it provides a lot of advantages to those who have registered, over the businesses which haven’t, from availing loans at a very low-interest rate to the exemption of direct taxes on incomes! What else does one wish for? The process for registration is not lengthy and the status of the application is easily accessible. 

eStartIndia will help you in MSME Registration from the comfort of your home.

Get a free consultation for MSME Registration with Our Top Rated Experts with simple Registration.
 

Author:

Narayani Modi
Delhi
I am Narayani Modi, a law student from Chaudhary Charan Singh University, pursuing BA.LLB and put up in New Delhi.