MSME Stands for Micro, Small and Medium Enterprises. It is regulated by the Ministry of Micro, Small and Medium Enterprises. The Government of India has enacted an Act for MSME i.e., Micro, Small and Medium Enterprises Development Act, 2006.
ELIGIBLE ACTIVITY FOR MSME REGISTRATION:
As per the MSME Act, 2006, Micro, Small and Medium Enterprises eligible for the following activities:
- Manufacturer: In Manufacturing or Production, Processing or preservation of goods.
- Service Provider: In providing or rendering of Services.
CLASSIFICATION OF INVESTMENT IN ENTERPRISES:
As per the notification dated 01.07.2020 under MSME Act, 2006, the following shall be the updated/new criteria for the classification of MSME Enterprises:
(Investment and Turnover)
|Investment in Plant and Machinery or Equipment of the Enterprises|
Not Exceeding 1 Crore
Not Exceeding 5 Crore
TYPES OF ENTERPRISES FALL UNDER MSME UDYAM REGISTRATION
As per the MSME Act, 2006, Enterprises refers to any Industrial Undertaking or any Business Concerns, by whatever name called engaged in Manufacturing or production of products, as specified under Industries (Development and Regulation) Act, 1951 or engaged in rendering or providing of services.
Following are the Enterprises fall under MSME Registration:-
1. Private Company
2. Public Company
3. Limited Liability Partnership Company
7. Co-operative Society
FREQUENTLY ASKED QUESTIONS (FAQ’S):
Question 1: In case, if enterprises involved in both activities i.e., manufacturing and rendering of services, which activity to be mentioned?
Answer: While Udyam Registration, the major activity of the enterprises is to be mentioned. In other words, if enterprises major activity is manufacturing and a small portion is involved in the Services, then in that case select your major activity as Manufacturing and Viva-Versa.
Question 2: Are traders involved under MSME Udyam Registration?
Answer: MSME Udyam Registration is not applicable to Traders, However, if any enterprises involved in both activity i.e., Manufacturing or Services and Trading, then such enterprises can register under MSME Udyam Registration.
Question 3: How to get Register under UDYAM Registration?
Answer: Under the Udyam Registration website https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm an Enterprise can register under themselves thereunder.
Question 4: Is any Document Required for the UDYAM Registration?
Answer: No document’s required for UDYAM Registration, Only Aadhar Number of the Authorised Person is required.
- The Aadhar no. of Proprietor is required, in case of Proprietorship Firm;
- The Aadhar no. of Karta, in case of HUF;
- The Aadhar no. of Managing Partner in case of the Partnership firm.
- The Aadhar no. of the Authorised signatory along with GSTIN and PAN is required in the case of Company/LLP/ Trust/Society.
Question 5: Is there are any fees under UDYAM Registration?
Answer: No Government fees are required under UDYAM Registration.
Question 6: How much time it will take to get the Certificate of UDYAM Registration?
Answer: The certificate will be generated immediately after the submission of the Application under the UDYAM Certificate.
Thanks & Best Regards
CS Riya Khurana
Contact No.: 8810649870