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Saturday, November 27, 2021

New Process & Complete Guide of MSME Registration in India

Talking on MSME registration becomes very important because our country generates more jobs MSME and unorganized sector from organized companies in the Indian sector. It is meant to say that a large population gets employment from the MSME sector of the country.

Now, as the number of MSME units is more than that of big companies in the country, it becomes very important to talk about MSME registration. While earlier entrepreneurs had to visit various government offices for this type of registration, later the central government made the process of small scale industry registration very simple online and that registration was named as Udyog Aadhaar Registration.

But currently, the Government of India has set up a separate enterprise portal to execute this task, so now the entrepreneur has to visit this official portal for MSME registration. As the Central Government and the State Government-run many schemes from time to time to encourage the MSME sector, it is absolutely necessary to register the units as MSMEs that wish to take advantage of them.

But the question arises in the minds of entrepreneurs doing business whether their company also comes under the MSME sector or not? Because it becomes very important for MSME registration that the enterprise of the entrepreneur should come under MSME on the basis of turnover. Whereas the definition of MSME was earlier classified into the service sector and manufacturing sector, currently only one definition of MSME has been given based on the classification which is as follows.

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Definition of MSME

Before knowing the definition of MSME, it is very important to know the full form of MSME, the full form of MSME is Micro, Small and Medium Enterprise, which can be interpreted in Hindi from Micro, Small and Medium Enterprises. The name of Micro, Small and Medium Enterprises can be given to any enterprise based on the following criteria.

Micro Enterprise:

An enterprise which does not invest more than one crore rupees in the plant, machinery or equipment and the turnover of this enterprise does not exceed five crore rupees.

Small Enterprise:

An enterprise which does not invest more than ten crores rupees in the plant, machinery or equipment and the turnover of this enterprise does not exceed fifty crores rupees.

Medium Enterprise:

An enterprise which does not invest more than fifty crores rupees in the plant, machinery or equipment and the turnover of this enterprise does not exceed two hundred crores rupees.

Now since you are well aware of which enterprises come in the MSME sector, if you also run an enterprise, then you can easily decide that your enterprise comes under the MSME sector or No? Or whether your enterprise is eligible for MSME Registration.

The Requirement for MSME Registration:

Before telling about the online process of MSME registration, it is very important to tell which documents are required by the entrepreneur to do this kind of registration. The list of things that the entrepreneur may need to do this kind of registration is as follows.

  • Firstly, the enterprise of the entrepreneur should be under the MSME sector as per the definition of MSME. If the enterprise of the entrepreneur is so large that more than 500 million investment has been made in plant, machinery or equipment and the turnover is more than 200 billion, then the enterprise will be considered outside the MSME sector.
  • In this enterprise registration process, there will be no need to upload any type of documents, papers, certificates or any kind of proof and this process will be completely online. And for this, no fee is charged from the entrepreneurs.
  • Aadhaar number will be required in this process, so before starting the MSME registration process, keep your Aadhaar or Aadhaar number in front of you.
  • Proprietorship firm will have to fill the Aadhaar number of the owner, Aadhaar number of the managing partner in case of partnership firm and Karta Aadhaar number in case of Hindu undivided family during enterprise registration.
  • Further, in case of Private Limited Company, Limited Liability Firm, Co-operative Society, Society or Trust, the GSTIN and PAN number of the organization along with the Aadhaar number of the authorized signatory of the organization will have to be filled.
  • Keep in mind that no enterprise is eligible to register more than one enterprise registration.
  • If during the MEME registration by someone knowingly provided wrong information deliberately, the person, organization etc. will be liable to receive the penalty specified under Section 27 of the Act.
  • Apart from this, all those enterprises which have already been registered in EM-Part-II or industry base, are also required to register on the enterprise portal.

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Features of Enterprise Registration

Following are some of the salient features of Udyam Registration.

  • The government has provided a complete system facility for the enterprise registration process or is completely online-based.
  • After registration, a provision has been made to provide a permanent registration number.
    When the registration process is completed online, a certificate is issued thereafter.
  • This certificate contains a dynamic QR code through which enterprise details can be easily accessed on this portal.
  • There is no need to renew the MSME Registration.
  • This registration is free, so no one is required to pay any fees etc.
  • This registration is free, as well as paperless and self-proclaimed.
  • There is no need to upload any type of documents, only the Aadhaar number is required.
  • However, having PAN and GST number from the new fiscal year April 2021 will become mandatory for this registration.

How to register MSME for free?

An entrepreneur needs to take care of various things before starting the MSME Registration Process. First of all, this enterprise registration is completely free, paperless and an online process based on self-declaration. Therefore, the entrepreneur should not pay anything for this, secondly, this registration can be done only through the official portal enterprise registration, so the entrepreneur should avoid registration on any other unauthorized portal.

However, some other domains have also been created by the government for this task, whose list is given on this official portal. So first of all, the entrepreneur has to go to the official portal given above and then go ahead by choosing one of the options for New Registration or Migrate to Udyam. You have to move forward by electing Udyam, otherwise, you can proceed only by choosing the first option. The rest fill the details based on the instruction given by this portal and complete this process.

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