To get a company registered under the Micro, Small, and Medium Enterprises (MSME) sector in India, you need to follow these steps:
- Check Eligibility Criteria: Ensure that your company meets the eligibility criteria set by the MSME Act. The criteria are based on investment in plant and machinery/equipment and turnover of the company.
- Choose the Right Form of Business: Decide on the appropriate legal structure for your business, such as a sole proprietorship, partnership, limited liability partnership (LLP), private limited company, or public limited company.
- Register the Business: Register your business with the appropriate government authority based on the chosen legal structure. For example:
- For a company, register with the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013.
- For an LLP, register with the MCA under the Limited Liability Partnership Act, 2008.
- For a sole proprietorship or partnership firm, register with the relevant state government authority or local municipal corporation.
- Obtain MSME Registration: Once your business is registered, you can apply for MSME registration online through the Udyam Registration portal (https://udyamregistration.gov.in/). Provide necessary details such as Aadhaar number, PAN card details, business name, address, and bank account information.
- Submit Required Documents: Upload supporting documents such as Aadhaar card, PAN card, business address proof, and other relevant documents as specified on the Udyam Registration portal.
- Submit Self-declaration: Declare the investment in plant and machinery/equipment and turnover of the business as per the prescribed format on the Udyam Registration portal.
- Pay Registration Fees (if applicable): Pay the registration fees, if any, through the online payment gateway provided on the Udyam Registration portal. As of now, MSME registration is free of cost.
- Receive MSME Certificate: After successful submission of the application and verification of details, you will receive the MSME certificate containing a unique Udyam Registration Number (URN) and other relevant information.
- Update Information as Needed: Update the MSME registration details in case of any changes in the business, such as expansion of operations, change in business activity, or turnover exceeding the prescribed limits.
- Avail Benefits and Incentives: Once registered under the MSME sector, you can avail various benefits and incentives provided by the government, such as priority sector lending, subsidies, concessions, and preferential treatment in government procurement.
By following these steps, you can get your company registered under the MSME sector and avail the benefits offered to micro, small, and medium enterprises in India. You can also consult us if you are looking for registration of your company under MSME.
