MSME Registration
Micro, Small, and Medium Enterprises (MSMEs) serve as the foundation of the economy, commonly referred to as Small Scale Industries (SSIs). In India, the government offers MSME registration to enterprises falling under the categories of Micro, Small, and Medium, unlocking a spectrum of benefits to foster their development and expansion. This registration empowers MSMEs with access to a range of government incentives, supporting their establishment and facilitating growth.
MSME registration is also called Udyam registration. The entities that fulfil the MSME classification can apply for MSME registration from the Udyam portal. It is not mandatory for MSMEs to obtain this registration, but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans etc.
Eligibility for MSME Registration
Entities engaged in manufacturing, service industries, wholesale, and retail trade can apply for MSME registration if they meet the revised criteria for annual turnover and investment. The eligibility for MSME registration is determined by the financial parameters, specifically the annual turnover and investment of the entity.
The following entities are eligible for MSME registration:
- Individuals, Business Owners, Startups and Entrepreneurs
- Sole proprietorship
- Partnership firm
- Limited Liability Partnerships (LLPs)
- Private and Public Limited Companies
- Self Help Groups (SHGs)
- Co-operative societies
- Trusts
At Legal Parivar, we specialize in simplifying the MSME Registration process, ensuring entrepreneurs navigate legal formalities seamlessly. Our experienced team is committed to guiding you through every step.
Reach out to us today and take the initial step toward realizing your entrepreneurial aspirations!
Get a FREE Expert Consultation Now!
Whatsapp Us
Email Us 
MSME Registration
₹
1,499/-*
₹
Documents & Details Required For MSME Registration :
- PAN of the Proprietor and Karta required for Sole Proprietorship and HUF
- PAN of the Managing partner required for Partnership Firm
- Aadhaar Card
- Mobile No & Email Id
- GSTIN mandatory for eligible businesses
- Client is liable for all the information provided during the Registration of MSME.
- Fees Should be paid according to conversation held between the Legal Parivar Team and Client.
MSME Registration FAQ's
Benefits of MSME Registration includes:
- Lower Interest Rates: Bank loans become more affordable with significantly lower interest rates, typically around 1-1.5% compared to regular loans.
- Extended MAT Credit: Enjoy the flexibility of carrying forward Minimum Alternate Tax (MAT) credit for up to 15 years, an extension from the previous 10-year limit.
- Cost Savings: Reduced costs for processes like patenting and industry setup due to available rebates and concessions post-registration.
- Government Tender Access: Easy access to government tenders through integration with the Udyam Registration Portal, Government e-Marketplace, and State Government portals.
- One Time Settlement Fee: A special settlement fee for non-paid amounts under MSME.
- Government Scheme Benefits: Avail benefits from government schemes like Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, Public Procurement Policy, and Protection against delayed payments.
- Priority Sector Lending: Eligibility for priority sector lending from banks.
- Security Deposit Waiver: Waiver of government security deposit, advantageous for participating in e-tenders.
- Diverse Activities under One Registration: Include various activities, be it service, manufacturing, or both, under a single MSME registration.
- Subsidies and Concessions: Access to barcode registration subsidy, exemption scheme from direct taxes, ISO certification fees reimbursement, electricity bill concessions, and special considerations in international trade fairs.
The Udyam/MSME Registration Certificate remains valid indefinitely, with no expiration, as long as the entity maintains ethical practices and financial stability.
No, a single MSME registration is sufficient for a business, even if it engages in multiple activities. It is not necessary to obtain multiple registrations. However, all business activities and branches must be specified in the MSME registration application.
As per the MSME notification dated June 26, 2020, businesses are required to update net investment and turnover every financial year. This straightforward process can be conveniently done on the MSME Portal through a self-declaration.