On July 01, 2020, the Union Ministry of Micro, Small and Medium Enterprises (MSME) launched a new classification and registration mechanism for MSME enterprises under the name 'Udyam Registration.'
New MSME Classification
| Classification | Investment in plant and machinery or equipment | Turnover |
|---|---|---|
| Micro enterprise | Not more than INR 1 Crore | Not more than INR 5 Crore |
| Small enterprise | Not more than INR 10 Crore | Not more than INR 50 Crore |
| Medium enterprise | Not more than INR 50 Crore | Not more than INR 250 Crore |
Documents Required
The method of applying for an online Udyam Registration is based on self-declaration and there is no further obligation to submit any records, certificates, papers or proof.
For the registration process , the customer would only need to include their 12-digit Aadhaar number, Pan Card and Bank Account Business information.
Process to Apply for Udyam Registration
Follow the below mentioned procedure:
Step 1: Go to the udyam online portal.
Step 2: Fill the form and upload the documents.
Step 3: Make payment for your applications online.
Step 4: your applications will be process.
Step 5: You will get the udyam certificate in few hours.
Benefits of applying
Some of the advantages of Udyam Registration are below
- Quick bank loan without collateral/mortgage up to 1 Cr.
- Unique preference in government tenders.
- 1 percent Interest rate exemption on Bank Overdraft (OD)
- Electricity and Water Bills Concession.
- Defense against buyers' delay in payment
- Tax Discounts
checkout more benefits of udyam registration
I hope so you will get all your queries solved in this article if not then please contact us through our udyam registration portal.
Many people search the internet for information about udyam registration fees, and they want to know how much they pay for a new udyam registration or a re-registration for current users.So, in today's short guide, we'll clear up any confusion you may have about the udyam or msme registration fee and provide you with all the information you need.Udyam Registration Fee DetailsThe cost of registration is the first thing that comes to mind when you think about any kind of registration.
So, first, let's see what the registration fee for udyam or msme is.You have two options for completing the Udyam/MSME registration:The first is via the official government site, where you can register for free.
However, the government process is difficult, time-consuming, and difficult to learn for new users.Second, you can hire a private agent, such as Udyamregistration.co, who can charge you a low consultation fee and complete the registration on your behalf, saving you time and resources.Udyam Registration ProcessThe process for registration for Udyam is simple and clear:Step 1: To begin, go to our udyam portal.Step 2: Complete all of the information needed on the MSME form.Step 3: Pay for your application online.Step 4: Our executive will review and process your submission.Step 5: You can obtain a certificate to your registered email address within 1-2 hours.Document RequiredDocuments that you needed to complete the process of udyam registration are given below: Applicant’s Aadhaar cardPAN Card & GSTIN ( Only for company registration
These help the market ensure equitable distribution of wealth.
For this reason, the Government of India offers numerous subsidies, incentives and other facilities to MSMEs.
To avail of these benefits, a venture has to register itself into it.The initial process for MSME registration online is the same as mentioned above like clicking on the option “For New Entrepreneurs who are not Registered yet as MSME” and then when the next page of the government portal of registration of MSME is opened, the next step required is that the Aadhar Card number and name of the entrepreneur needs to be filled into the space provided.
When the entrepreneur fills his Aadhar Card number and his name, then the next step required is clicking the “Validate and Generate OTP” button.Once this button is clicked and OTP is received by the entrepreneur, he needs to enter the OTP.
There are two options below that box – “Yes” and “No”.
In a short while a message of thank you can be seen on the screen along with the registration number.Here it is to be noted that although an entrepreneur can register himself as MSME even if he does not have a PAN Card.