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MSME Udyam Or Udyog Aadhar Registration
MSME stands for Micro, Small & Medium Enterprises. MSME Udyam Registration or MSME Udyog Aadhar Registration is the identification number issued by the Ministry of Micro, Small & Medium Enterprises to MSME enterprises. Businesses under MSME are classified as per following criteria:-
Micro Enterprises: An entity will be classified as Micro Enterprises if its investment in Plant & Machinery or Equipment does not exceed Rs 1 Crore and Annual Turnover does not exceed Rs 5 Crore.
Small Enterprises: An entity will be classified as Small Enterprises if its investment in Plant & Machinery or Equipment does not exceed Rs 10 Crore and Annual Turnover does not exceed Rs 50 Crore.
Medium Enterprises: An entity will be classified as Medium Enterprises if its investment in Plant & Machinery or Equipment does not exceed Rs 50 Crore and Annual Turnover does not exceed Rs 250 Crore.
There are various benefits for taking MSME Udyam Registration or MSME Udyog Aadhar Registration like collateral free bank loan, lower interest rate on bank loans, rebate on government fees on trademark or patent registration etc. Although it is not mandatory to register under MSME, but because of above benefits it is always advisable for businesses to get the MSME Udyam Registration or MSME Udyog Aadhar Registration.
Documents Required For MSME Udyam Registration
Documents | Proprietorship | Partnership | LLP | Company |
Photograph | Yes | Yes | Yes | Yes |
PAN Card | Yes | Yes | Yes | Yes |
Aadhar Card | Yes | Yes | Yes | Yes |
Certificate of Incorporation | Not Applicable | Not Applicable | Yes | Yes |
Partnership / LLP Deed | Not Applicable | Yes | Yes | Not Applicable |
Office Address Proof | Yes | Yes | Yes | Yes |
Cancelled Cheque | Yes | Yes | Yes | Yes |
FAQ On MSME Udyam Registration
MSME stands for Micro, Small & Medium Enterprises. MSME Udyam Registration is the identification number issued by the Ministry of Micro, Small & Medium Enterprises to businesses on the basis of their turnover and investment in business.
MSME Udyam and Udyog Aadhar are same things. From 01.07.2020 Government came out with the idea of MSME Udyam Registration in place of Udyog Aadhar Registration. All existing Udyog Aadhar Registration needs to be migrated to new MSME Udyam Registration.
All types of businesses whether a manufacturing unit or a service provider can take MSME Udyam Registration. However traders are not eligible to take MSME Udyam Registration.
No, taking MSME Udyam Registration is not a mandatory requirement for businesses. However it is always advisable for businesses to take MSME udyam registration so that they become eligible to claim various benfits avaiable to MSMEs.
There are various benefits for taking MSME Udyam Registration or MSME Udyog Aadhar Registration like collateral free bank loan, lower interest rate on bank loans, rebate on government fees on trademark or patent registration etc.
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