Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
Taxhub will file an application for Udyog Aadhar
Taxhub will Upload the Documents
Get your Udyog Aadhar Certificate
What is a UDYAM Registration?
The Micro Small & Medium Enterprises Development Act 2006 makes it mandatory for MSME to register themselves with government and to obtain Udyam for availing benefits provided under MSME Development Act. The terminology like MSME, SSI or Udyam is one and same thing. In other words, there is only one registration which a micro, small and medium enterprises has to obtain and that is Udyam. MSME is the backbone of the modern Indian economy and is considered as the growth engine for equitable and sustainable economic development of the country.
MSME stands for Micro, Small and Medium Enterprise (MSME), introduced by Government of India in agreement with Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 are entities engaged in the production, manufacturing, processing or preservation of goods and commodities.
Mainly Two Business Categories are covered under MSME:
1. Manufacturing Sector
2. Service Sector
What is Criteria for MSME Classification?
An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:-
• 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.
Basic Documents Required
- Copy of Aadhar Number of the Applicant. (In case of Partnership/LLP/Company/ TRUST then provide aadhar of Partner / Director / Authorized Signatory)
- Bank Account Number and IFSC Code of Applicant
- Copy of PAN of Applicant
- Copy of GST Certificate of Applicant
- Copy of Last Filed Income Tax Return of the Applicant
- Address of Appliacnt
- Mobile Number and Email ID for OTP
- Basic Business Activity of the enterprise
- Number of Employees as on date with their genders
- Date of Start of Business
- Amount of Investment in Plant & Machinery for Manufacturing Unit
- Total Turnover of the Applicant
999/-
All Inclusive Fees
| Udyam Registration |
| Support in opening of Bank Account |
2,499/-
All Inclusive Fees
| Udyam Registration |
| Support in opening of Bank Account |
| GST Registration |
5,499/-
All Inclusive Fees
| Udyam Registration Support in opening of Bank Account |
| GST Registration |
| GST Returns 3 Months |
Benefits of MSME Registration in India
The Government of India has made collateral-free credit available to all small and micro business sectors. This initiative guarantees funds to micro and small sector enterprises. Under this scheme, both the old as well as the new enterprises can claim the benefits. A trust named The Credit Guarantee Trust Fund Scheme was introduced by the GOI(Government Of India), SIDBI(Small Industries Development Bank Of India) and the Ministry of Micro, Small and Medium Enterprise to make sure this scheme is implemented (Credit Guarantee Scheme) for all Micro and Small Enterprise.
A hefty 50% subsidy is given to the Enterprise that has the certificate of registration granted by MSME. This subsidy can be availed for patent registration by giving application to respective ministry.
Businesses or enterprises registered under MSME can avail a benefit of 1% on the Over Draft as mentioned in a scheme that differs from bank to bank.
Enterprises registered under MSME are also eligible for a subsidy for Industrial Promotion as suggested by the Government.
This concession is available to all the Enterprises that have the MSME Registration Certificate by providing an application to the department of the electricity along with the certificate of registration by MSME.
The registered MSME enterprises can claim the reimbursement of the expenses that were spent for the ISO certification
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
