Micro, Small, and Medium Enterprises are abbreviated as MSME.
MSME stands for Micro, Small, and Medium Enterprises. It is a government program that focuses on giving incentives to medium and small-scale entrepreneurs in order to help them grow their enterprises in today’s highly competitive environment. The MSME initiative gives loans to budding entrepreneurs, allowing them to start their enterprises without having to worry about money.
Also, Read- udyam registration benefits in hindi
What is the MSMED Act and how can I register?
It’s simple to become an MSME. You must go to the scheme’s official website. Simply follow the on-screen instructions when you arrive. Choose a category and follow the letter’s directions. Any business that qualifies as a small or medium-sized enterprise (SME) is welcome to apply. Here, your Aadhar card is the sole document necessary. On your investment and turnover, you must also provide your PAN and GST data. All additional information will be gathered from the government’s database.
The udyam registration platform is used to register MSME. There are two categories under which MSMEs can register, according to the information provided on this page. The following are both of these categories:
- Entrepreneurs who have never registered as an MSME before.
- Entrepreneurs who have already registered as UAM or EM-II, as well as those who have registered through aided filing.
For new business owners who haven’t yet registered as an MSME.
Entrepreneurs who are enrolling for the first time should select the option on the MSME portal’s homepage that says “For New Entrepreneurs who are not Registered as MSME.” The Aadhar Card number must be entered in one of the two methods indicated below to complete the registration procedure.
- PAN Card information is required for registration.
- No PAN Card is required for registration.
Along with your PAN card, you must register:
When we go to the portal’s main page, we select the option “For New Entrepreneurs who are not yet Registered as MSME,” which takes us to the next page for MSME registration. The applicant’s Aadhar Card number is required here.
After you’ve entered these details, click the “Validate and Generate OTP” button. Following the generation and entry of the OTP, the following page prompts you to verify your PAN.
If the applicant has a PAN Card, the information is automatically retrieved from the government’s databases and filled in. The application entrepreneur’s ITR information must be filed next.
“Udyam Registration has already been completed using this PAN,” says a message box when all of these fields are filled out. The entrepreneur must now select “Validate PAN” from the drop-down menu.
After the PAN is validated, the portal will display the Udyam Registration box, which will prompt the entrepreneur to enter his personal information as well as information about the industry or factory he plans to open.
After the details have been filled out, the entrepreneur must click “Submit and Get Final OTP.”
The registration procedure is deemed complete after the entrepreneur receives and fills out this last OTP. The entrepreneur is now registered as an MSME. A successful registration notice will now appear, along with a reference number. The Udyam Registration Certificate is issued when the registration is verified.
If you don’t have your PAN card, you can still register:
The first step for MSME registration is the same as described above, which involves selecting “For New Entrepreneurs who are not Registered as MSME” and entering the Aadhar Card number and entrepreneur’s name in the area provided on the following page of the udyam registration site for MSME. The entrepreneur must then click the “Validate and Generate OTP” button after entering his Aadhar Card number and name.
The entrepreneur must input the OTP after this button is pressed and the OTP is received. Following this, the PAN Verification page will appear. However, because the entrepreneur may not have a PAN Card, the box asks, “Do you have PAN?” when it opens. Below that box, you have two choices: “Yes” or “No.” If the business owner does not have a PAN card, he must select “No” from this menu. The next step is to click the “Next” button to go to the next page.
The Udyam Registration screen appears when you click the “Next” button. On this page, the entrepreneur must provide his personal information as well as any information about his factory or company. After going through all of these steps and filling in all of the needed information, the Entrepreneur must click the “Final Submit” button. A thank you message displays on the screen after a short time, along with the registration number.
It’s important to remember that even if you don’t have a PAN or GSTN, you may register as an MSME. However, he must apply for a PAN Card and GSTN after registering. He must update both, i.e., his PAN Card and GSTN, on the MSME Registration site by December 31, 2021, otherwise, his Udyam Registration may be suspended.
Documents Required for MSME Registration:
- Aadhar number of the individual
- Name of the sector
- Details about your bank account, as well as some general data.
- Self-certified certifications for the same might be provided by the business’s owner.
- After completing and uploading the form, the owner will receive a udyam registration number.