MSME

Sole Proprietor firm, Partnership firms, One Person Company, Private Limited Companies, Public Limited Companies, LLPs, HUF and cooperative society.

No,  it is not mandatory to have a GST number for registering your MSME.

No. MSME registration is required to have access to the government concessions and schemes.

No. MSME registration is done on the basis of aadhar of the individual. It is necessary to link mobile number with aadhar before applying for the registration. The verification of MSME application is done on the basis of Aadhar linked mobile number.

MSME registration is the same as Udyam registration.

MSME registration is one time registration. There is no expiry period for this certificate. No renewal is required for msme registration.

No. Only manufacturing and service entities are allowed to carry out MSME registration. Companies that carry out trading activities are not covered under the scheme provided by MSME.

  • Reduction in fee for patent and Trademark.
  • Access to Government scheme benefits including loan without guarantee.
  • Exemptions while applying for Government Tenders & preference in allocation of Government Tenders.
  • Easier Registration and approvals to obtain a license.
  • Protection against delayed payments by buyer/Customer.
  • Buyer is liable to pay compound interest at rates higher than Bank rate when payment is not made within 45 days.
  • Companies who have not made payment to MSME/ Udyog Aadhar enterprise within 45 days have to file a half yearly return with MCA reasons for outstanding payment.
  • Concessions in electricity bill.