MSME Registration for micro and small enterprises (both manufacturing and rendering of servicer) or medium enterprises that are engaged in providing services is important but optional.
However, an MSME engaged in the manufacture or production of goods has to mandatorily register under the Act. By taking into consideration the benefits that are available under the Act, it is usually suggested that every enterprise whether it is minor, medium, or small must opt for registration.
Aadhaar Card is the only document required for MSME registration. MSME registration is fully online and no proof of documents is required. PAN and GST linked details on investment and turnover of enterprises will be taken automatically by the Udyam Registration Portal from the Government databases. The Udyam Registration Portal is fully integrated with Income Tax and GSTIN systems. PAN and GSTIN number are mandatory from 01.04.2021 for registration. Registration without PAN and GSTIN can be done now but have to be updated with PAN number and GSTIN number within 01/04/2021 for avoiding suspension of registration. Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME will have to re-register themselves in this Portal (as stated in the Registration Process heading above)
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Q. Is MSME updated to Udyam Registration?
A. Yes, MSME registration has been replaced with the Udyam Registration. If any micro, small and medium industries want to start any business; they need to do the registration with MSME/Udyam Registration. This registration with MSME/Udyam Registration is completely online. This facility provides the business with a lot of benefits and subsidies.
Q. Is aadhar card compulsory?
A. Yes. For registration under the Udyam registration, an Aadhaar card is compulsory. In case an applicant is other than the proprietor, the Aadhaar card of the partner and the director will be required.
Q. Can existing and new businesses both apply?
A. Yes, an existing and new business can apply for MSME/Udyam Registration, provided the existing unit is functioning and meets the threshold limits for registration. UAM Registration has to be re-registered for Udyam registration to avail the benefits of MSME.
Q. What is the validity of the certificate?
A. There is no expiry of the Udyam Registration Certificate. As long as the entity is ethical and financially healthy there will be no expiry of the certificate.
Q. Can trading companies register under MSME?
A. No. MSME covers only manufacturing and service industries. Trading companies are not covered by the scheme. MSME is to support startups with subsidies and benefits, trading companies are just like middlemen, a link between manufacturer and customer. Hence not covered under the scheme.
Q. Do I need multiple registrations for manufacturing plants in different cities?
A. No. The MSME/Udyam Registration Certificate is for a single entity irrespective of multiple branches or plants. However, information about multiple branches or plants must be furnished.