Brief about Micro, Small & Medium Enterprises (MSME- Aadhar Udyog Registration)
Meaning of Micro, Small & Medium Enterprises:
1. What are Micro Enterprises:
Micro Enterprises means for Manufacturing Sector having Investment in Plant & Machinery Up to 25 Lakhs & for Service Sector having Investment in Equipment up to 10 lakhs.
2. What are Small Enterprises:
Small Enterprises means for Manufacturing Sector having Investment in Plant & Machinery from 25 Lakhs to 5 Crore & for Service Sector having Investment in Equipment from 10 lakhs to 2 crores.
3. What are Medium Enterprises:
Medium Enterprises means for Manufacturing Sector having Investment in Plant & Machinery from 5 to 10 Crore & for Service Sector having Investment in Equipment from 2 to 5 crore.
Registration of Micro, Small & Medium Enterprises:
1. Registrations of MSME is also Called as “Aadhar Udyog Registration”.
2. Registration of MSME is Optional but it is advisable to complete the Aadhar Udyog Registration for availing various benefits.
3. Registration can be done at this website: https://eudyogaadhaar.org/msme-registration-online.php
4. There are no fees or any charges to be paid to Government for this registration.
5. Aadhar Udyog Registration can be done in 30-45 minutes.
6. Document required for this registration are: Aadhar Card (Mobile Number Registered with Aadhar for OTP), Pan Card, Bank Details.
7. Other Information such as Mobile Number, Email ID, Business Name, Business Activity, Nature of Business, Investment Amount & No of Employees will also need to filled in the form.
Benefits of Registration as Micro, Small & Medium Enterprises:
Government is providing Various benefits to Micro, Small & Medium Enterprises in Monetary as well as non-Monetary Terms.
Government is providing a lot of benefits to MSME’s. Below is the list of Benefits given by the Government to MSME’s:
1. Government Tender’s: Government is providing exclusive tenders to MSME’s. While applying for government tenders, they are exempted from payment of earnest money, waiver of security deposit up to the monetary limit for which at the unit is registered, issue of tender sets free of cost;
2. Concession in Electricity Bills: MSME’s can get a concession in electricity bills by make an application for the same to respective department.
3. Lower Loan Rates: MSME’s can get loan at lower rate of interest as compared to other’s as bank are required to lend money to MSME’s.
4. Subsidy on Trademark Registration: MSME’s can get subsidy up to 50% on Trademark Registration.
5. Subsidy on Patent Registration: MSME’s can get subsidy up to 50% on Patent Registration.
6. Subsidy on ISO Certification: MSME’s can get subsidy on ISO Certification.
7. Counter Guarantee: MSME’s are Eligible for Counter Guarantee from GOI through CGSTI.
8. Exemption from Stamp Duty & Registration Fees: All new industrial units in public IT parks are exempted from payment of stamp duty and registration fees.
9. Preference on Government Licenses: MSME are given higher preference and an easy way to obtain government licenses, approvals and registrations.
10. Loan Availability: Aadhar Udyog Certificate is Business proof for MSME. Chances of Loan availability of Registered MSME’s are high as compared to Non- Registered MSME’s.
The above article is written after reading the MSME Act. For any further information or Aadhar Udyog Registration you can contact me on email@example.com or you can contact me on my WhatsApp number 8879882025.