MSME/Udyam Registration Online
More than 6,000 entrepreneurs in India trust LegalWiz.in for starting and managing their businesses. Choose legalwiz.in as your online legal solution partner to handle business registrations like Udyam registration/MSME registration at affordable pricing and a quick turnaround time coupled with dedicated support. Our team of experienced CA, CS, and lawyers will help you through every step of your registration process and answer any questions you may have.
What is MSME/Udyam Registration?
MSME/Udyam registration is an initiative by the Government of India to give legal and operational identity to micro, small, and medium businesses in India. Udyam registration was previously known as MSME registration or Udyog Aadhar registration and is governed by the MSME (Micro, Small, and Medium Enterprise) Development Act, 2006. In 2020, the registration process was changed from Udyog Aadhar registration to Udyam registration in order to simplify the registration process and help businesses accelerate growth. The entire process is online and based on self-declaration. All registered businesses can take the benefits granted under the MSME scheme. This includes many financial benefits such as easy loan facilities, hassle-free registrations, additional edge in Government Tenders, protection against delayed payments, etc.
Eligibility Criteria for MSME/Udyam Registration
The business entities that fall under the following three categories can apply for MSME Registration /Udyam registration online.
Micro Enterprises: Businesses whose investment in plant and machinery is not more than ₹1 crore and the annual turnover is not more than ₹5 crores.
Small Enterprises: Entities whose investment in plant and machinery is not more than ₹10 crores and the annual turnover is not more than ₹50 crores.
Medium Enterprises: Businesses whose investment in plant and machinery is not more than ₹50 crores and the annual turnover is not more than ₹250 crores.
Why should you obtain Udyam/MSME Registration for your business?
Documents required for Udyam Registration online
Obtain registration in 3 Easy Steps
*Subject to Government processing time
Timeline for Udyam Registration online
Choose the right registration based on different parameters
|Parameters||GST Registration||Importer Exporter Code||Professional Tax Registration||Start-Up India Registration||MSME Registration|
|Applicable To||Businesses exceeding a prescribed threshold for turnover||All importers and exporters||Applicability defers based on State Act||To all Private Companies, LLPs and Registered Partnership Firm||All Micro, Small and Medium Enterprises|
|If turnover exceeds ₹ 20 Lakh or entity fall under specified category, registration is mandatory||Any business entity undertaking import/export for business purpose from India||A person earning income from salary or by practicing any profession has to pay the professional tax||All the companies/startups can apply for Startup India Registration after setting up business to avail the benefits under the DPIIT Scheme of central government.||It is not mandatory to register under MSME. Any business entity if wishes, can get registered under MSME|
|Regulatory body||State and Central Government||Central Government||State Government||Central Government||Central Government|
|The tax is segregated into two parts – CGST (central) and SGST (state)||The code is granted by Directorate General of foreign Trade, Central Government||The tax is based on income slab-rates decided by state Government||Department of Industrial Policy and Promotion of central government grants registration under startup India scheme||MSMEs comes under centrally based Ministry of Micro, Small and Medium Enterprises|
|Annually, monthly or quarterly based on GSTR type||No return are prescribed to file after registration||Monthly or yearly -based on professional tax liability||No returns are to be filed after this registration||No returns are to be filed after this registration|
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