In India, MSME registration refers to the registration of Micro, Small, and Medium Enterprises under the MSME Development Act, 2006. Here's a brief overview of the MSME registration process:
- Determine eligibility: Businesses that meet the following criteria can apply for MSME registration: Micro enterprises: up to Rs. 1 crore investment in plant and machinery or equipment. Small enterprises: up to Rs. 10 crore investment in plant and machinery or equipment. Medium enterprises: up to Rs. 50 crore investment in plant and machinery or equipment.
- Obtain Udyog Aadhaar Number: Businesses can obtain their Udyog Aadhaar Number (UAN) by registering on the official Udyog Aadhaar portal (https://udyogaadhaar.gov.in/UA/UAM_Registration.aspx). The UAN is a 12-digit unique identification number that serves as the MSME registration certificate.
- Fill in the application form: Businesses must fill in the MSME registration application form available on the Udyog Aadhaar portal. The application form requires details such as the name and address of the enterprise, type of organization, number of employees, investment in plant and machinery or equipment, and bank account details.
- Submit the application form: Once the application form is filled, businesses must submit it online through the Udyog Aadhaar portal. No fee is charged for MSME registration.
- Receive the UAN: After successful submission of the application form, businesses will receive their Udyog Aadhaar Number (UAN) instantly on the registered mobile number and email ID.
MSME registration provides various benefits to small businesses, including access to credit, tax exemptions, subsidies, and government schemes. Therefore, it is recommended for eligible businesses to obtain MSME registration.