MSME Registration. Easy guide for FY 2021 onwards
MSME Registration can be obtained by eligible entities with help of expert. This article is detail guide on who is eligible to obtain registration, documents required for registration and benefits of registration.
For registration refer UDHYAM portal link >> https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm
Registration as MSME process is completely online, paperless, no government fee and on self declaration basis.
Eligibility to obtain MSME Registration
An enterprise shall be classified as a micro, small or medium enterprise (MSME) on the basis of the following criteria:
- a micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees
- a small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees
- a medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
Documents required for MSME Registration
- Aadhaar with linked mobile number
- PAN Number
- GST Number and turnover as per GST, if any.
- Nature of business, business Address, plant & machinery investment, turnover of current year, number of employees.
- Name, Address, Category of business owner
Benefits of obtaining MSME Registration
- Opening of Current Accounts in banks
- Collateral free bank loans
- Subsidy is patent registration
- Eligibility in Industrial Promotion Subsidy
- Protection against payment
- Exemption of Interest rates in overdraft accounts
- Reimbursement of ISO Certification charges.
Is MSME registration mandatory?
No, registration as MSME is on voluntary basis and as per requirement of business. It is beneficial but not mandatory.
Need Expert Assistance for MSME Registration
For expert assistance on Registration of MSME in Udaipur and Rajasthan, reach our professionals at Tax Ledger Advisor.
Also refer other articles from Tax Ledger Advisor >>
https://www.taxledgeradvisor.com/gst-registration/
https://www.taxledgeradvisor.com/shop-establishment-act-registration/