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MSME

MSME Registration Process

November 1, 2018 by Team Instabizfilings

Blog Details

Ministry of MSME launch one-time scheme for faster registration for increasing UDYAM Registration.

 

Now MSME can do Registration with PAN and GST up to 31.3.2021, this is Transitional provisional.

 

Ministry of MSME had revised the definition of MSMEs and process of registration w.e.f. 1st July, 2020. It also launched a new portal for MSME/Udyam registration (https://udyamregistration.gov.in). Since then, the portal is working smoothly.  In a major first, this portal is seamlessly integrated with CBDT and GST networks.

 

Now MSME registration is paperless, and Ministry has instructed all of its Field Establishments such as MSME-Development Institutes, MSME Technology Centers, NSIC, KVIC, Coir Board to extend full support to entrepreneurs for Udyam Registration.

 

MSME Meaning?

Under the new definition, manufacturing and service MSMEs will be defined under a common metric that will be a mix of investment in plants and machinery or equipment and turnover.

 

BENEFITS OF REGISTRATION

The benefits of MSME registration is not extended to trading activities as trading companies, who just mediate to sell finished goods and create a link between manufacturer and customer.

 

BENEFITS OF MSME REGISTRATION:

  • Collateral-Free Loan Facilities & Priority Lending
  • Credit Linked Capital Subsidies for MSMEs
  • Low Interest rate on loan
  • ISO Certification Charges Reimbursement
  • Incubation Scheme For MSME
  • Market Development Assistance Scheme for MSME
  • Subsidy on Patent Registration
  • Protection against Delayed Payments
  • 100% tax exemption for Innovative startups
  • Concessions on Electricity Bills
  • Tender Preference to MSME
  • Concessions on Electricity Bills
  • Prime Minister Employment Generation Programme for MSMEs

 

Fees for Registration of MSME: No Fee for MSME Registration

 


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