MSME Registration, Eligibility for Udyam Registration
Reetu | Dec 14, 2020 |
MSME Registration, Eligibility for Udyam Registration, E-Book of Schemes for MSMEs
MSME: Who we are?
The MSME sector is an important pillar of the Indian economy as it contributes greatly to the growth of the Indian economy with a vast network of around 30 million units, creating employment of about 70 million, manufacturing more than 6000 products, contributing about 45% to manufacturing output and about 40% of exports, directly and indirectly. There was a long pending demand from the sector to redefine MSME definition. The GoL has redefined MSME classification from July 1st, 2020 as follows:
i. A composite criterion of investment in Plant & Machinery or Equipment and Turnover, as detailed in the matrix above, shall apply for classification of an enterprise as micro, small or medium.
ii. The criteria are applicable to the enterprise for both manufacturing and services sectors.
iii. If an enterprise crosses the ceiling limits specified for its present category in either of the two criteria of investment or turnover, it will cease to exist in that category and be placed in the next higher category but no enterprise shall be placed in the lower category unless it goes below the ceiling limits specified for its present category in both the criteria of investment as well as turnover.
iv. All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and the turnover and investment figures for all of such entities shall be seen together and only the aggregate values will be considered for deciding the category as micro, small or medium enterprise.
| About | The government has organized a system to facilitate the registration of MSMEs. An enterprise for the purpose of this process will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’. A permanent registration number will be given after registration. After completion of the process of registration, a certificate will be issued online. This certificate will have a dynamic QR Code from which the webpage on the Portal and details about the enterprise can be accessed. There will be no need for renewal of registration. The Registration Process is totally free of cost. Single window systems at Champions Control Rooms and at DICs will help in the process. Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online in the Udyam Registration portal, based on self-declaration with no requirement to upload documents, papers, certificates, or proof. |
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In case of any Doubt regarding Membership you can mail us at [email protected]
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