Udyam Registration- AMpuesto Startup Services

UDYAM Registration

Udyam registration is a certificate provided by Govt. under the Micro, Small and Medium Enterprises Development Act 2006. The main objective of Govt. to provide MSME registration is to safeguard the interest of small businesses against big industries, to extend benefit of various govt. schemes, to promote growth of small businesses in India

MSME stands for Micro, Small and Medium Enterprises. MSME pays a crucial role in Indian economy and contributing significant growth in employment generation and exports. Any entrepreneur who wants to register its business as MSME have to take UDYAM registration. Government notifies the criteria of investment or turnover for any business according to which they can categorize any business as MSME.

Benefits of UDYAM Registration: -

Eligibility for govt schemes: - MSMEs are eligible for various schemes and incentives launched by the government, such as credit guarantee fund scheme, subsidies, and tax exemptions.
Lower interest rate: - MSMEs are given priority status for lending by banks, which means they have easier access to credit at lower interest rates which can reduce the cost of operations of their business
Safeguard against delayed payments: - The government provides protection to MSMEs against delay in payment by their buyers. If a buyer of such MSME not make the payment to an MSME within 45 days of the acceptance of goods or services, the MSME can charge an interest on the payment due.
Reimbursement of Barcode fees: - those business who are MSME can get reimbursement of expense incurred for barcode if they have taken such registration from GS1India.
Credit facility: - From time to time, the government offers various credit and loan facilities available to MSMEs. The government privileges SMEs over large corporations by providing credit to preserve their value and improve their competitiveness.
Subsidy: - Government provide various credit linked subsidy for technology upgradation to increase their productivity.

Key Points to be considered: -

MSME recognition is usually provided by the government on the basis of a business’s investment in plant and machinery, so businesses can get recognition under the head of the Micro, Small, and medium sector accordingly.
MSME registration is valid for the lifetime of the business. This means that once obtained, your MSME enrollment never expires.
MSME and Udyam are both terms used to refer to micro, small, and medium enterprises in India, if any business get MSME certification then it also acknowledges with UDYAM registration.
Any form of business whether as a proprietor, firm, company, or co-operative society can get MSME registration and there is no limitation for any particular business.
MSME registration offers several benefits to businesses in India, including access to government schemes and incentives, priority lending, concession on utility bills, market promotion, protection

Frequently Asked Question

Is MSME registration mandatory or voluntary?

As said above, MSME registration is totally voluntary. Entreprenuers usually get it done for the benefits available in it.

How does MSME help me to get a loan from Bank?

MSME registration is recognized by all Banks/Financial Institution. Banks prefer MSME instead of normal enterprises to lend loans.

How is value of Plant and Machinery computed for MSME Registration?

While computing the value of Plant and Machinery, only original value is asked to be taken into account as per the MSME notification.

How Ampuesto will help me apply for MSME Application?

AMPUESTO will help you in registering your MSME/UDYAM. You just need to simply complete the small form and our team will call you and help you in registering your MSME/UDYAM Application in a very cost effective way.