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Get your MSME registration from MYFINTAX- Online Legal, Tax and Financial Service provider in India

MSME Registration @ Rs 1499*/- ONLY

 Get MSME Udyam Certificate and avail off the benefits and perquisites offered by the Government to MSMEs from time to time.  

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Overview of MSME Registration in India

Get your MSME registration from MYFINTAX- Online Legal, Tax and Financial Service provider in India

MSME (Micro, Small, and Medium Enterprises) registration is a government initiative in India to promote and support the growth of small and medium-sized businesses. Here's an overview of MSME registration:-


Definition of MSME:

MSMEs are classified based on their investment in plant and machinery or equipment for manufacturing units, and investment in equipment for service providers. The classification includes micro, small, and medium enterprises based on these investment thresholds.


Benefits of MSME Registration:

MSME registration offers various benefits to eligible businesses, including:

  • Access to government schemes and subsidies
  • Preference in government procurement
  • Collateral-free loans and credit facilities
  • Protection against delayed payments
  • Support for technology upgradation and innovation
  • Exemption from certain taxes and duties
  • Enhanced market visibility and branding opportunities


Types of MSME Registration:

There are two types of MSME registration:

  • Udyog Aadhaar Registration: This is a simplified online registration process where businesses can obtain a unique identification number, known as Udyog Aadhaar, by self-certifying their details.
  • Entrepreneur Memorandum (EM) Part-II: This is a registration process conducted by the District Industries Centre (DIC) or the respective State Government.


Eligibility for MSME Registration:

Businesses engaged in manufacturing or service activities, such as small-scale industries, small retailers, service providers, and artisans, can apply for MSME registration. The specific eligibility criteria and investment limits vary based on the sector and business type.


MSME Registration Process:

The registration process generally involves the following steps:

  • Gather required documents, such as Aadhaar card, PAN card, business address proof, and bank account details.
  • Complete the registration form either online (Udyog Aadhaar) or offline (EM Part-II).
  • Submit the application along with the necessary documents to the relevant authority.
  • Upon verification, the MSME registration certificate or Udyog Aadhaar will be issued.


Renewal and Updates: 

MSME registration certificates do not require renewal. However, businesses may need to update their information periodically or in case of any changes to their business details.


Other Initiatives and Support:

The government of India has launched various initiatives and schemes to support MSMEs, such as the Prime Minister's Employment Generation Programme (PMEGP), Credit Guarantee Fund Scheme (CGFS), and Technology and Quality Upgradation Support. 

ADVANTAGES & BENEFITS

Procure Government tenders  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

Procuring Government tenders

Concession in Electricity bills

Concession in Electricity bills

 The Government of India gives special preference in buying from Micro and Small businesses through Govt.tenders. 

Concession in Electricity Bill | MYFINTAX- Online Legal, Tax and Financial Service provider in India

Concession in Electricity bills

Concession in Electricity bills

Concession in Electricity bills

Enterprises that have the MSME Registration Certificate can avail concession by providing an application to the department of the electricity along with the MSME Certificate  

100% Collateral free loan  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

100% Collateral Free Loan

Concession in Electricity bills

1% Interest exemption on OD

 The Government of India has made collateral-free credit available to all small and micro business sectors. This initiative guarantees funds to micro and small sector enterprises.

1% Interest exemption on OD

Special 50% discount for Trademark

1% Interest exemption on OD

 Businesses or enterprises registered under MSME can avail a benefit of 1% on the Over Draft as mentioned in a scheme that differs from bank to bank. 

50% discount for Trademark  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

Special 50% discount for Trademark

Special 50% discount for Trademark

Special 50% discount for Trademark

 Enterprises that have MSME Certificate can avail 50% subsidy for patent & trademark registration. 

MSME Samadhan Portal  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

MSME Samadhan Portal

Special 50% discount for Trademark

Special 50% discount for Trademark

 Enterprises undergoing a dispute with regard to payments may raise online complaint at MSME Samadhan Portal. 

Protections against payments  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

Protection against the delay in payment

Industrial Promotion Subsidy Eligibility

Industrial Promotion Subsidy Eligibility

 Maximum period for payment for purchases from MSME shall not exceed 45 days, in case of delay, the buyer is liable to pay interest to the SME supplier, at 3 times of the bank rate. 

Industrial promotion Subsidy  | MYFINTAX- Online Legal, Tax and Financial Service provider in India

Industrial Promotion Subsidy Eligibility

Industrial Promotion Subsidy Eligibility

Industrial Promotion Subsidy Eligibility

 Enterprises registered under MSME are also eligible for a subsidy for Industrial Promotion as suggested by the Government. 

ISO certification charges reimbursement   MYFINTAX- Online Legal, Tax and Financial Service provider

ISO Certification Charges Reimbursement

Industrial Promotion Subsidy Eligibility

ISO Certification Charges Reimbursement

 The registered MSME enterprises can claim the reimbursement of the expenses that were spent for the ISO certification. 

Documents required

Photograph

Investment Details

Investment Details

Copy of passport size photograph of the Proprietor/ Partners /Directors 

Investment Details

Investment Details

Investment Details

Details of investment in Plant & Mahcinery, Equipments etc. is required

GST Certificate

Investment Details

PAN & Aadhar Card

Incorporation Certificate with GST Certificate is required.

PAN & Aadhar Card

PAN & Aadhar Card

PAN & Aadhar Card

A copy of PAN & Aadhar Card of Proprietor/ Partners/ Directors /Company is required

Bank Statement

PAN & Aadhar Card

Bank Statement

Last 6 months Company's/Firm's/Proprietor's bank statement is required

MOA & AOA

PAN & Aadhar Card

Bank Statement

MoA & AoA / LLP Agreement or Partnership Deed as applicable is required 

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Frequently Asked Questions

Please reach us at support@myfintax.in if you cannot find an answer to your question.

MSME registration is a government registration process for Micro, Small, and Medium Enterprises (MSMEs) in India. It provides recognition and certain benefits to eligible businesses in the small and medium-sized sector. 


Businesses engaged in manufacturing or service activities, such as small-scale industries, small retailers, service providers, and artisans, can apply for MSME registration. The specific eligibility criteria and investment limits vary based on the sector and business type. 


MSME registration can be done online through the Udyog Aadhaar portal (for Udyog Aadhaar registration) or offline through the District Industries Centre (for EM Part-II registration). The registration process involves filling out the application form and providing the necessary documents. 


The common documents required for MSME registration include Aadhaar card, PAN card, business address proof, bank account details, and information about the business activities and investments. The specific documents may vary depending on the type of registration and business category. 


No, there is no fee for MSME registration. The registration process is free of cost. 


MSME registration is not mandatory, but it is beneficial for businesses to avail themselves of the benefits offered by the government, such as financial assistance, subsidies, and easier access to credit facilities. 


MSME registration offers various benefits, including access to government schemes and subsidies, preference in government procurement, collateral-free loans, protection against delayed payments, tax and duty exemptions, and support for technology upgradation and innovation. 


MSME registration offers various benefits, including access to government schemes and subsidies, preference in government procurement, collateral-free loans, protection against delayed payments, tax and duty exemptions, and support for technology upgradation and innovation. 


Yes, existing businesses can also apply for MSME registration to avail themselves of the benefits and support provided by the government. 


MSME registration certificates do not have a specific validity period. Once registered, the business retains its MSME status unless it outgrows the eligibility criteria or voluntarily cancels the registration. 


Yes, businesses can upgrade their category from micro to small or medium as they grow and meet the respective investment criteria. They can apply for reclassification based on the updated financial information. 


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