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Wednesday, October 27, 2021

MSME Registration Process & Profit Details

Today we will tell you about the MSME registration process & profit on this blog so that you can simply register your business.

Along with this, you will also be able to know about the benefits that you can get from India, so friends, let’s hope that you will learn something new.

Micro, Small and Medium Enterprises Registration

Registration of your business is a very important part in the success of your business after you register your business, your limits are over.

After registration, you can do business wherever you want, with whom you can do your business with it, whether you want to do it with the Government of India or with a private company.

At present, the Indian government has made it so simple that you can register your business in 10 minutes using your Aadhaar card whenever you want.

How To Apply for MSME registration

The process of registration (MSME registration process) can be completed in two ways, first, you can register your business on the website of Udyog Aadhar online (how to apply for Udyog Aadhar)

The second way is that you can also register your business by going to your nearest District Industries Center (DIC).

If you want to get your business registered at the District Industries Center (DIC), then you should have your Aadhaar card, PAN card, and details of the business that you want to do

  1. Voter ID Card
  2. Driving License
  3. PAN Card
  4. Passport
  5. Bank Photo Passbook
  6. Employee Photo Identity Card issued by the Government

With all these, you can get your business successfully MSME registration by going to your nearest District Industries Center (DIC).

 

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Industry base registration online (MSME registration)

Friends, the second method of registration which is very popular and accessible is by applying online in the Aadhaar base (how to apply for Udyog Aadhar).

Below we have told you some steps through which you can register your business yourself.

1. Log in to the Government Portal for MSME Registration

To promote ease, the MSME Ministry launched an online portal. The first step towards registering as an MSME under Udyog Aadhaar is to visit the portal, if you wish, you can also access it by clicking on the link given below.

2. Entering Individual Aadhaar Number

Now you need to enter your twelve digit Aadhaar number in the given pen.

3. Name of the Entrepreneur

Now you have to write your name, your name matches the name written in your Aadhaar card, for this you will have to take complete caution.

4. Validating Aadhaar (MSME registration)

After providing the above details, below is a button that asks you to “validate and generate OTP”. By clicking this button, the applicant will be able to validate their Aadhaar and fill the form further.

Now you will be sent OTP to the mobile number of the applicant registered with IDAI.

After getting the OTP, you will have to fill the OTP and complete the form further.

5. Filling Details in the Udyog Aadhaar Form

Following are the details to be filled by the applicant in the Aadhaar form:

a. Aadhaar Number

as mentioned above.

b. Owner Name

as mentioned above.

c. Social Category

Here, the applicant is required to choose the social category to which he belongs. Contains

  • Scheduled Caste
  • Scheduled Tribe
  • Other Backward Classes (OBC)

Further, the concerned authority can ask for proof of the applicant’s social status whenever necessary.

d. Gender

Here, the applicant has to select his gender.

e. Physically Handicapped

Here, the applicant is required to choose his / her physically challenged position.

f. Name of the Enterprise

In this section, the applicant must provide the name of the enterprise by which he/she undertakes the business activity and is known to its customers.

Also, it should be noted that an applicant may have more than one enterprise. Each of these enterprises can either register for a different industry and use the same Aadhaar number.

g. Type of Organization

The applicant must now select the type of organization under which his enterprise operates. These may include

h. Location of Plant

The applicant will have to provide the location of the plant in case of multiple plants at different locations. He can specify all of these by clicking on the Add Plant button.

i. Official Address

Under this, the applicant has to provide the complete postal address of his business unit. Details will include

  • State
  • District
  • PIN Code
  • Mobile Number
  • Email

j. Date of Commencement

This section requires the applicant to specify the date on which the legal entity commenced its operations.

k. Previous Registration Details (If Any)

There may be a case where the business entity for which the applicant wants Aadhaar registration was already issued

  • valid EM-I/II by the appropriate GM (DIC) according to the MSMED Act, 2006 OR
  • SSI registration that existed earlier to the MSMED Act, 2006
  • Such a number also needs to be mentioned by the applicant.

l. Bank Details

Here, the applicant is required to provide the following details related to his bank account used for business activities. Contains

  • Bank Account Number
  • IFSC Code

m. National Industry Classification Code (NIC Code)

Under this, the applicant is required to specify the NIC code to catch all the activities which the business unit is engaged in. The applicant can add more than one NIC code by selecting only “Add more” button

n. Investment in Plant, Machinery and Equipment

When the application calculates the total amount of investment, he needs to consider the purchase price of the goods which are the original investment.

Also, it is required to exclude the cost of pollution control, R&D, industrial safety equipment and other such items through notification by RBI.

o. Persons Employed

Here, the applicant needs to specify the total number of people who work as employees with the business unit

And they are paid salaries or wages by the business unit.

p. Details Regarding District Industries Center (DIC)

Depending on the location of the business unit, the applicant is required to fill the location of the DIC

6. Submission of the Udyog Aadhaar Form

The applicant just needs to click on the submit button. This will lead to the generation of OTP which will be sent to the mobile number linked to Aadhaar. Enter the received OTP. Enter the captcha code and click on the last submit button.

MSME Registraion Profit

If you are a registered business, then you can easily take advantage of schemes run by the Government of India from time to time.

Some of these schemes are as follows

  • Ease of getting a loan from the bank and you also get priority
  • Loan interest rate low
  • Subsidy in loans by the Government of India
  • Excise duty exemption
  • There is also the benefit of offering
  • Direct tax is also exempt

MSME registration loan

If you want to apply for a bank loan for your business from your Udyog Aadhaar registration, you can do this in a very easy way.

For which this small industry registration (MSME registration) will be valid.

If you want to provide a loan from the bank for your business and you want to know how to apply for a loan for your business in the bank, then you can check this post of ours.

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