The foundation of the new business brings a heap of opportunities for the business owners. But starting a business journey without any obstacles is nothing more than a fantasy. One has to dig deeper and see what prerequisites apply to his business. Though there are plenty of licenses that apply to one’s business, there is some registration that is not mandatory buthas a significant impact on the company’s growth. One such registration is known as the MSME certificate. In this write-up, you will learn how to get an MSME certificate Online and other facts around this registration.
An Overview on MSME and its Classification
MSME is an acronym for the term Micro, Small, and Medium Enterprises. The previous MSME classification revolves around the investment cap only,which has limited potential. The lack of versatility and scalability has compelled the government to revise the same for the betterment of the business owners. Now the new classification takes investment as well the annual turnover into account, thereby creating improved growth opportunities for business owners. Following are revised criteria for MSME classification provided by the Ministry of Small Scale Industries on 1 June, 2020
Read our article:What is MSME Registration and how to get it?
|Investment in Plant and Machinery (INR)
|Annual Turnover (INR)
Step by Step Process for MSME Certificate Online
The new business owners seeking an MSME certificate online can use the following instructions.
Step1: Go to theUdyam Registration portal by visiting the following URL https://udyamregistration.gov.in/UdyamRegistration.aspx
Step 2: Enter your 12-digit Aadhaar Number in the Aadhaar Number dialog box
Step 3: Provide the ‘Name of Entrepreneur’ as per the Aadhaar Card.
Step 4: Next, agree to the declaration.
Step 5: Next, tap on the ‘Validate & Generate OTP’ button
Step 6: Now you will get the OTP generated by the portal on your registered contact number for verification.
Step 7: Now, provide that OTP in the given field and hit the Validate button.
Step 8: Once verified, go ahead and provide the details as cited below;
- Enter the type of business structure
- Upload the PAN Number.
- Accept the declaration form and proceed by tapping on the ‘Validate’ button
- Provide the ITR and GSTIN detail as applicable.
Step 10: In the truancy of the PAN card, you can provide your name under the option called ‘Name of the Entrepreneur’
Step 11:Provide the contact number as well as the email address in the relevant field.
Step 12: Next, render details about gender, social category, and enterprise name.
Step 13: Now, provide the real address of the premises where production is carried out.
Step 14: Enter the company’s registered address.
Step 15: Next, render the erstwhile EM-II/UAM registration number, along with;
- Enterprise’s status,
- Banking-related details,
- Core-business activities,
- National Industrial Classification (NIC) Code for business Activities,
- detail about employees.
Step 16: Enter the cost involved in the establishment of plant & machinery and other details prompted on the screen.
Step 17: Next, provide your consent to the declaration form and hit the Submit tab & get the OTP.
Step 18: Render the OTP to wrap up the registration process.
Steps for downloading MSME Certificate Online
The steps below will let you download the Udyog Aadhar certificate via the UAM number on the UAM portal.
Step1: Use https://udyamregistration.gov.in/Government-of-India/Ministry-of-MSME/online-registration.htm
Step 2: Tap on the Print option located on the Home Page.
Step 3: the portal shall land you on the following URL https://udyamregistration.gov.in/UA/PrintAcknowledgement_Pub.aspx
Step 4: Enter the legitimate UAM number.
Step 5: Provide your registered phone detailer given on the Udyog Aadhaar.
Step 6: Next, hit the Submit tap.
Step 7: Now the portal will send you the registered phone number.
Step 8: Enter the OTP in the given field.
Step 9: Download the Udyog Aadhaar certification
How to check the status of the MSME certificate online?
Step 1: Visit:- https://udyamregistration.gov.in/PrintUdyamCertificate.aspx
Step 2: Enter the Udyam Registration Number, aka UAM,and registered contact number.
Step 3: Use the suitable ‘OTP’ option.
Step 4: Finally, tap on the Validate & Generate OTP.
Udyam registration portal outfits tons of apt features for the benefit of entrepreneurs and business owners. It would also allow users to check the status of the application via the UAM number. From registration to modification, the portal let you do everything with a few clicks.
Benefits Related to M SME Certificate
- Registered MSMEs have a reduced rate of interest on bank loans by a significant margin. MSMEs can get credit at as low as 1% with relaxed EMIs.
- Registered MSMEs are eligible to avail of tax exemption.
- Minimum MAT or Alternate Tax for MSMEs (registered ones) can be extended to 15 years. Meanwhile, the standardized MAT is 10 years. MSMEs registered under the Ministry of MSMEs get priority on applications of licenses and certificates issued by the Government of India.
- A registered MSME has access to plenty of rebates as well as concessions on patents and the cost of establishing an industry.
- A priority regarding government tenders is bestowed to MSMEs on the Udyam Portal as it is linked with government-based e-tendering portals.
- MSMEs can get aOne Time Settlement Fee for deferred or non-payment of amounts.
Further, the GOI renders an array of schemes such as;
- Prime Minister Employment Generation Programme (PMEGP)
- Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTMSE)
- Revamped Scheme Of Fund for Regeneration Of Traditional Industries (SFURTI)
- Skill Upgradation & Mahila Coir Yojana (MCY)
The Ministry of MSMEs under the GOI recognizes the contribution of MSMEs towards the nation’s GDP. And to that effect, it renders plenty of subsidies and benefits to stimulate growth. To avail of these, & to establish a seamless channel of authorization MSME registration is required. Do not forget to connect with CorpBiz’s professionals just in case you seek help on this topic.
Read our article:How MSME Registration Can Ensure Business Growth?