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The MSME Udyog Aadhaar Registration is made compulsory for all the small businesses which are running in India. Just simplify their burden of getting a loan, filing taxes, etc. Register MSME Certificate/ Udhyog Adhaar with Legal Pillers.
Clearing the common doubts about MSME Registration:
Where to use for MSME Registration?
The registration is freed from cost and may be done through the Udyog Aadhar registration portal.
It is better to urge it done through a professional; we at AYP can assist you with it.
What is the validity of the MSME Certificate?
Your MSME Certificate are going to be valid till your business is operational which suggests it's issued for a lifetime.
Can traders get MSME Registration?
No, traders cannot get MSME Registration. MSME Registration has only two categories: Manufacturing Enterprises and repair Enterprises. Trading companies/ Traders aren't covered under MSME Registration.
Can we cancel MSME Registration?
Yes, MSME Registration are often cancelled. it's an offline procedure where you would like to submit the specified documents and you'll cancel the MSME registration from there.
How long does MSME registration take?
MSME Certificate is issued after 1-2 working days of form submission.
How much does MSME Registration cost?
MSME Registration is freed from cost.
But, to urge an MSME Registration properly filed, it's advised to contact knowledgeable. We, at Ask Your Professional provide you with free MSME Registration. Contact us now!
We are the Best legal services consultant in Agra and pan India.
Can new businesses apply for MSME Registration?
Yes, new businesses should apply for MSME Registration.
The Government has introduced many schemes for startups.
Can existing businesses apply for MSME Registration?
Yes, existing businesses can apply for MSME registration.
Their turnover is going to be taken into consideration.
Get your MSME registration done from AYP.
Our mission is to serve you best.
Benefits of MSME Registration
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. MSME registration is a mandatory task for any business to start and operate in India. MSME categorized under two main categories, such as manufacturing enterprises and service enterprises.
MSME’s are rapidly growing with regular support from the government and youths who are inspired and bold enough to start their own venture. Therefore, knowledge about the registration process and its benefits is an absolute must in order to give a boost to the entrepreneurial spirit of MSME & SSI founders.
Benefits of MSME Registration
1. Bank Loans (Collateral Free):
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.
2. Credit Linked Capital Subsidies for MSMEs:
Technology-driven MSMEs may not be able to use their resources to full potential due to lack of the latest technology. Under this scheme, MSMEs are provided upgraded technology to replace their old and obsolete ones. The Scheme aims to provide 15% capital subsidy for technology up gradations. There is also a ceiling in 15% capital subsidy which is 15 Lakh for induction of well-established and improved technology. It is given for in approved sub-sectors/products.
3. Subsidy on Patent Registration:
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.
4. Low Interest rate on loan
Businesses or enterprises after obtaining MSME registration certificate can avail a benefit of 1% on the Overdraft loan and as per Union budget 2019 MSMEs registered under GST can get 2% interest subvention. It is available for incremental loans of Rs 1 crores under the MSME Credit Scheme
5. ISO Certification Charges Reimbursement
The registered MSME enterprises can claim the reimbursement of the expenses that were spent for the ISO certification.
6. Market Development Assistance Scheme for MSME :
Under this scheme, The Central Government follows a Price and Purchase Preference policy wherein around 358 items are listed for exclusive purchases by Central Government from the MSME units only. They are numerous support like marketing assistance even for those products, which are manufactured by MSMEs and do not fall under the purview of Reservation Policy.
7. Tender Preference to MSME:
From time to time government has announced many tenders where only MSME Industries can apply. Recently, as a part of Covid-19 relief package, the Finance minister has announced that there are issues of unfair competition from foreign companies in government procurement tenders due to the size and strength differ and govt will not allow global tenders in such schemes up to Rs 200 crore.
8. 100% tax exemption for Innovative start-ups:
No Income Tax required to be paid in 3 year out of 7 Years – i.e. Start-ups are eligible for getting 100% tax exemption on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs 25 crores in any financial year. It is allowed by way of Deduction under Income Tax Act. In this deduction, Companies up to 10 Years in existence are still considered start-up. Income Tax Law also allows credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years.
9. Overdraft Interest Rate Exemption
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.
10. Industrial Promotion Subsidy Eligibility
Enterprises registered under MSME are also eligible for a subsidy for Industrial Promotion as suggested by the Government.
11.Protection against Payments (Delayed Payments)
At times, the buyers of services or products from the MSME’s or Small Scale Industries tend to delay the payment. MSME ministry provided a helping hand to such enterprises by giving them the right to collect interest on the late payments from buyers. The settlement will be done through conciliation and arbitration and it will be resolved in minimum time.
Payment term are provided under this rules are-
1. On or before the agreed date of payment or
2. In case there is no mention of the date of payment, Within 15 days from the day they had accepted the goods and services from MSME or SCI registered business.
The Micro, Small and Medium Enterprises Development Act, 2006, has made strict provisions for charging of interest so that problem of delayed payment can be mitigated. In these provisions, if any buyer fails to make payment to MSMEs as per agreed terms or a maximum of 45 days, Buyer need to pay monthly compounded interest which is three times of the rate notified by the Reserve Bank of India.
12. Fewer Electricity Bills:
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.
For More Details visit us:
Contact No. 9112211457
Email: [email protected]
Website: www.msmeregistration.org
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. MSME registration is a mandatory task for any business to start and operate in India. MSME categorized under two main categories, such as manufacturing enterprises and service enterprises.
MSME’s are rapidly growing with regular support from the government and youths who are inspired and bold enough to start their own venture. Therefore, knowledge about the registration process and its benefits is an absolute must in order to give a boost to the entrepreneurial spirit of MSME & SSI founders.
Benefits of MSME Registration
1. Bank Loans (Collateral Free):
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.
2. Credit Linked Capital Subsidies for MSMEs:
Technology-driven MSMEs may not be able to use their resources to full potential due to lack of the latest technology. Under this scheme, MSMEs are provided upgraded technology to replace their old and obsolete ones. The Scheme aims to provide 15% capital subsidy for technology up gradations. There is also a ceiling in 15% capital subsidy which is 15 Lakh for induction of well-established and improved technology. It is given for in approved sub-sectors/products.
3. Subsidy on Patent Registration:
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.
4. Low Interest rate on loan
Businesses or enterprises after obtaining MSME registration certificate can avail a benefit of 1% on the Overdraft loan and as per Union budget 2019 MSMEs registered under GST can get 2% interest subvention. It is available for incremental loans of Rs 1 crores under the MSME Credit Scheme
5. ISO Certification Charges Reimbursement
The registered MSME enterprises can claim the reimbursement of the expenses that were spent for the ISO certification.
6. Market Development Assistance Scheme for MSME :
Under this scheme, The Central Government follows a Price and Purchase Preference policy wherein around 358 items are listed for exclusive purchases by Central Government from the MSME units only. They are numerous support like marketing assistance even for those products, which are manufactured by MSMEs and do not fall under the purview of Reservation Policy.
7. Tender Preference to MSME:
From time to time government has announced many tenders where only MSME Industries can apply. Recently, as a part of Covid-19 relief package, the Finance minister has announced that there are issues of unfair competition from foreign companies in government procurement tenders due to the size and strength differ and govt will not allow global tenders in such schemes up to Rs 200 crore.
8. 100% tax exemption for Innovative start-ups:
No Income Tax required to be paid in 3 year out of 7 Years – i.e. Start-ups are eligible for getting 100% tax exemption on profit for a period of three years in a block of seven years provided that annual turnover does not exceed Rs 25 crores in any financial year. It is allowed by way of Deduction under Income Tax Act. In this deduction, Companies up to 10 Years in existence are still considered start-up. Income Tax Law also allows credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years.
9. Overdraft Interest Rate Exemption
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.
10. Industrial Promotion Subsidy Eligibility
Enterprises registered under MSME are also eligible for a subsidy for Industrial Promotion as suggested by the Government.
11.Protection against Payments (Delayed Payments)
At times, the buyers of services or products from the MSME’s or Small Scale Industries tend to delay the payment. MSME ministry provided a helping hand to such enterprises by giving them the right to collect interest on the late payments from buyers. The settlement will be done through conciliation and arbitration and it will be resolved in minimum time.
Payment term are provided under this rules are-
1. On or before the agreed date of payment or
2. In case there is no mention of the date of payment, Within 15 days from the day they had accepted the goods and services from MSME or SCI registered business.
The Micro, Small and Medium Enterprises Development Act, 2006, has made strict provisions for charging of interest so that problem of delayed payment can be mitigated. In these provisions, if any buyer fails to make payment to MSMEs as per agreed terms or a maximum of 45 days, Buyer need to pay monthly compounded interest which is three times of the rate notified by the Reserve Bank of India.
12. Fewer Electricity Bills:
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.
For More Details visit us:
Contact No. 9112211457
Email: [email protected]
Website: www.msmeregistration.org
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. ...
Udyog Aadhaar is a twelve digit Unique Identification Number provided by the Ministry of Micro, Small and Medium Enterprises, Government ...
Udyog Aadhaar is a twelve digit Unique Identification Number provided by the Ministry of Micro, Small and Medium Enterprises, Government of India for small and medium enterprises, beginning in September 2015. It is also known as Aadhaar for Business
Ø With effect from 1st July 2020, the process of registration of Udyog Aadhar is known as Udyam Registration.
Ø Udyog Aadhar is a government registration provided with a recognition certificate known as Udyog Aadhar Certificate.
Ø You can file more than one Udyog Aadhar with a similar Aadhar number.
Ø You require Aadhar number, Industry name, Address, Bank details etc. for Udyog Aadhar Registration.
Ø Udyog Aadhar provides benefits like easy registration process, bank loans at a lower rate, rebates on tariffs, eligibility of government subsidies and setting up of business at lower costs etc.
UAM (Udyog Aadhaar Memorandum)
Udyog Aadhaar Memorandum is the registration form wherein the MSME certifies its existence, and provides mandatory information such as owner’s Aadhar details, bank account details etc.
After submitting this form, an acknowledgment form is released to the registered email of the applicant containing the unique UAN (Udyog Aadhaar Number).
For More Details Contact Us @
Contact No. 9112211457
Email: [email protected]
Website: https://www.msmeregistration.org/
What is Udyog Aadhaar Registration?
Udyog Aadhaar is a twelve digit Unique Identification Number provided by the Ministry of Micro, Small and Medium Enterprises, Government of India for small and medium enterprises, beginning in September 2015. It is also known as Aadhaar for Business
Ø With effect from 1st July 2020, the process of registration of Udyog Aadhar is known as Udyam Registration.
Ø Udyog Aadhar is a government registration provided with a recognition certificate known as Udyog Aadhar Certificate.
Ø You can file more than one Udyog Aadhar with a similar Aadhar number.
Ø You require Aadhar number, Industry name, Address, Bank details etc. for Udyog Aadhar Registration.
Ø Udyog Aadhar provides benefits like easy registration process, bank loans at a lower rate, rebates on tariffs, eligibility of government subsidies and setting up of business at lower costs etc.
UAM (Udyog Aadhaar Memorandum)
Udyog Aadhaar Memorandum is the registration form wherein the MSME certifies its existence, and provides mandatory information such as owner’s Aadhar details, bank account details etc.
After submitting this form, an acknowledgment form is released to the registered email of the applicant containing the unique UAN (Udyog Aadhaar Number).
For More Details Contact Us @
Contact No. 9112211457
Email: [email protected]
Website: https://www.msmeregistration.org/
