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What is Free MSME Registration?
MSME registration process is fully online, paperless and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME. Only Adhaar Number will be enough for registration. MSME Registration process online is now free, simple and hassle free.
An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: --
- (i) 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;
- (ii) 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; and
- (iii) 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.
How to Apply for Udyog Aadhar/MSME Registration Online?
- Log in to LegalDocs Website, and Click on “Free MSME Registration”.
- Fill in the Application form and give your details (Free of Cost)
- Only Aadhaar number shall be required for Udyam Registration. (Your Aadhaar should be linked with your mobile number because you will receive the verification OTP there)
- The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm, and of a Karta in the case of a Hindu Undivided Family (HUF).
- In the case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organization or its authorized signatory shall provide its GSTIN and PAN along with its Aadhaar number.
- In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on a self-declaration basis.
- A permanent registration number will be given after registration.
- After completion of the process of registration, a certificate will be issued online.
- This certificate will have a dynamic QR Code from which the web page on the government Portal and details about the enterprise can be accessed.
- There will be no need for renewal of Registration.
*Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME, will have to re-register themselves. No enterprise shall file more than one Udyam Registration. However, any number of activities including manufacturing or service, or both may be specified or added in one Registration.
Documents Required for Free Udyog Aadhar/MSME Registration Online
- No documents or proof are required to be uploaded for registering an MSME.
- Only Adhaar Number will be enough for registration.
- PAN & GST linked details on investment and turnover of enterprises will be taken automatically from Government databases.
- The online system will be fully integrated with Income Tax and GSTIN systems.
Benefits of Udyog Aadhar/MSME Registration Online
Benefits : According to your business, you may enjoy an excise benefit scheme as well as exemption from certain direct taxes in the initial years of your business.
Easy Clearance of Pending Payments : MSME registration helps you to make easy clearance for any pending payment.
50% discount on trademark and Patent Fees : MSME registration helps to reduce the pricing of trademark and patent registration.
Lesser Interest Rates For Bank Overdraft(OD) : Banks and other money-related organizations perceive MSMEs and have made exceptional schemes for them. This more often than excludes need segment loaning, which implies that the probability of your business being endorsed a credit is high, and lower bank financing costs.
Eligible for Mudra Loan Scheme : MSME registration helps you to be eligible for the Mudra loan scheme.
Apply Government Tenders Easily : Subside the power, taxes, and entry to state-run industrial estates, there is a sales tax exemption in most of the states. Not only this but also the central government offers various schemes from time to time.
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A current account is a type of deposit account that helps the professionals and businessmen to run their business. Businessmen can avail various benefits by Online Current Account such as:
- Unlimited transactions
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- Online banking services
Online current account reduces the hassle and provides the benefit to complete the banking process anytime and anywhere.
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