What Does MSME Mean?
Under the Micro, Small, and Medium Enterprises Development (MSMED) Act of 2006, the Government of India established MSME Means “Micro, Small, and Medium Enterprises”. These businesses are primarily involved in manufacturing, processing, and preserving goods and commodities.
MSME Sectors are a crucial sector of the Indian economy and have made a significant contribution to the country’s socio-economic development. It primarily creates job opportunities and contributes to the development of the country’s backward and rural areas.
What Is MSME? The Center has modified the Full Form of MSME Meaning of micro, small, and medium enterprises under the Aatmanirbhar Bharat Abhiyan (ABA). The new definition eliminates the distinction between service and manufacturing organizations. The investment criteria for MSMEs have been revised upward, and a new criterion of turnover has been added.
MSME registration certificate download
Whereas MSME registration is not mandated, experts recommend that micro, small, and medium-sized businesses obtain the MSME Certificate as early as possible to take advantage of the MSME scheme’s numerous subsidies and MSME Benefits.
The MSME registration process is quite simple and straightforward. Additionally, if required, you can register your MSME online. Therefore, follow the steps outlined below to obtain the MSME certificate download online without difficulty.
- MSME registration requires the submission of a form, which can be done online or offline. To access the online form, visit the Udyog Aadhaar Memorandum (UAM) official site and login as an entrepreneur.
- You must complete the application with all essential details about the industry in which you operate.
- Additionally, you must provide required documents such as your Aadhaar number, the name of your industry, your address, your bank account information, and other common relevant information.
- You must also submit some self-declaration certificates.
- Wait 2-3 business days after you’ve finally filled out the form and affixing all of your documents.
- After receiving the MSME registration number, you can proceed to the official website of Udyog Aadhaar Memorandum (UAM) to download MSME certificate.
How to Register for MSME:
The eligibility criteria:-
Any individual who meets the following MSME Criteria may apply for registration:
- The applicant, in this case, is a member of the HUF (Hindu Undivided Family);
- If the person is a sole proprietor (but not the owner of the business);
- In some cases, an entity collaborates with another party in a partnership or a partnership firm.
- If you are the sole proprietor of an OPC (One Person Company);
- The entity is comprised of cooperative societies;
- In this case, the applicant is the sole proprietor of a private limited company.
- If you own a manufacturing company that produces materials;
- Other undertakings
To apply for MSME registration certificate download, you must submit the required documents to the relevant authority:
- Proof of identities, such as a PAN card, for all directors, partners, or proprietors
- Address proof for each director, partner, or owner, such as an Aadhaar card, a voter card, a passport, a driver’s license, etc.
- A lease agreement, possession letter, allotment letter, or property tax receipt are examples of business address proof.
- If the office space is leased, a NOC (No-Objection Certificate) from the property owner is required.
- Utility bills that are no more than two months old
- Obtain a copy of the purchase invoice for each raw material purchased
- A copy of the sales receipt for each finished product
- A copy of the Industrial Development and Regulation Act of 1951’s industrial license
- The company’s Memorandum of Association (MOA) and Articles of Association (AOA)
- Additionally, the company’s Certificate of Incorporation (COI) indicates that it is registered as a Private Company.
- If you have a partnership firm, a copy of the partnership deed is required.
- Bank statement
- Purchase invoice for installed machinery
- Affidavit on non-judicial stamp paper costing Rs. 10/-. It should include a Notary Public’s attestation stating the current status of power requirements, installed machinery, and so on.
- Bills for the purchase and installation of plant and machinery
Rs. 1999 (all included) is charged for MSME registration Fees per certificate including MSME certificate download online and can be paid on its secured gateways.
What Are The Different MSME Classifications?
The Indian government enacted the Micro, Small and Medium Enterprises Development Act, 2005 (MSME Act). It is classified as micro, small, and medium enterprises (MSME) based on two factors:(i) investment in machinery and equipment and (ii) the enterprise’s turnover. However, as part of the Aatmanirbhar Bharat Abhiyan (ABA), the Ministry of Micro, Small and Medium Enterprises recently revised the MSME classification by including a composite criterion for both capital investment and annual revenue of enterprises in its notification dated June 1, 2020.
Additionally, it is worth noting that the Finance Minister has stated that start-ups are eligible to benefit from the MSME relief measures announced under the ABA. While start-ups are not explicitly included in the definition of MSMEs, those operating in the manufacturing or service sectors may like to register as an MSME on the Udyog Aadhar Registration Portal.
|Enterprise Type||Micro-Enterprise||Small Enterprise||Medium Enterprise|
|Enterprises involved in the manufacturing and enterprises engaged in providing services||P&M/Equipment investment not exceeding INR 1 Crore and an annual turnover not exceeding INR 5 Crores.||P&M/Equipment investment not exceeding 10 Crores and an annual turnover not exceeding 50 Crores.||P&M/Equipment investment not exceeding INR 50 Crores & annual turnover not exceeding INR 250 Crores.|
Simple steps involved in MSME certificate download online
- Visit Udyog Aadhaar official site
- Enter the 12 digit UAM number and 10 digit mobile number in the respective boxes and click submit button
- Preview the MSME certificate and click download.
- Your MSME registration certificate download will be done in PNG format
What Are The Benefits Of MSME registration?
- MSME Loan Scheme becomes cheaper due to MSME registration because the interest rate is very low, around 1 to 1.5 per cent. Interest rates are significantly lower than those charged on regular bank loan.
- Additionally, it allowed for the carrying forward of minimum alternate tax (MAT) credits for up to 15 years rather than ten years.
- Once registered, the cost of obtaining a patent or setting up an industry decreases due to the availability of multiple rebates and concessions.
- MSME registration facilitates the acquisition of government tenders because the Udyam Registration Platform is integrated with the Government e-Marketplace and various other State Government portals that provide easy accessibility to their marketplaces and e-tenders.
- There is a One-Time Settlement Fee associated with unpaid MSME amounts.
Different MSME Schemes Launched By Indian Government:
Technology and Quality Improvement Program:-
By enrolling in this scheme, micro, small, and medium-sized enterprises can use energy-efficient technologies (EETs) in manufacturing industries, lowering production costs and promoting a clean development mechanism.
Monitoring System for Complaints:-
Registering with this scheme enables business owners to have their complaints addressed. This allows business owners to monitor the status of their complaints and reopen them if they are disappointed with the result.
This scheme assists entrepreneurs in putting their new designs, ideas, or products into action. This plan gives financial assistance for the setting up of ‘Business Incubators.’ This initiative helps the development of new concepts, designs, and products.
Credit-Linked Capital Subsidy (CLCS) Scheme:-
This scheme provides business owners with new technology to replace their outdated technology. A capital subsidy is provided to businesses to upgrade their facilities and improve their business operations. These small, micro, and medium-sized businesses can approach banks directly for these subsidies.
FAQs about MSME registration:
Q1: Is it necessary to surrender the MSME Certificate to the MSME Authority if an enterprise ceases to be a Medium Enterprise?
Ans. According to the Ministry of Micro, Small and Medium Enterprises’ Notification dated 26th June 2020, it is not stated anywhere within the Act that once an enterprise ceases to be an MSME enterprise, it must surrender its MSME Certificate; however, if the enterprise is unable to update relevant data on the portal, its status will be suspended.
Q2: How long is the MSME certificate download valid?
Ans. The Udyam Registration Certificate has no expiration date. The certificate will not expire as long as the organization is ethical and financially sound.
Q3: Is there a provision for MSME registration renewal?
Ans. As notified on June 26, 2020, the Udyam Registration Number is a permanent identity number, and no need to renew registration.
Q4: Is the Aadhar card mandatory?
Ans. Yes, an Aadhaar card is required for registration under the Udyam scheme.
Q5: Is it possible for an enterprise to have multiple Udyam Registration Numbers?
Ans. No company shall have even more than one Udyam Registration Number as per Notification dated 26 June 2020; if a company involves both manufacturing and service, both activities will be clubbed into one Udyam Registration.