{"id":17422,"date":"2020-10-06T11:58:42","date_gmt":"2020-10-06T06:28:42","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=17422"},"modified":"2020-10-06T11:58:43","modified_gmt":"2020-10-06T06:28:43","slug":"what-is-msme-registration-and-how-to-get-it","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/what-is-msme-registration-and-how-to-get-it\/","title":{"rendered":"What is MSME Registration and how to get it?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">MSME is an abbreviated term of the\nphrase&nbsp;<strong>Micro, Small,\nand Medium Enterprises<\/strong>. MSME companies provide support to the\neconomy of our country to a greater extend. The MSME sector contributes to 50%\nof India\u2019s Total Exports, 95% of all industrial units of the country, 45% of\nTotal Industrial Employment. The growth of a country heavily depends on its\nindustrial sector. In this article, you will learn about what are MSME\nregistration and its prevailing benefits.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/what-is-msme-registration-and-how-to-get-it\/#What_is_MSME_Registration_Process\" >What is MSME\nRegistration Process?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/what-is-msme-registration-and-how-to-get-it\/#Documents_required_for_MSME_registration\" >Documents required for MSME registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/what-is-msme-registration-and-how-to-get-it\/#Benefits_of_MSME_Registration\" >Benefits of\nMSME Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/what-is-msme-registration-and-how-to-get-it\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_MSME_Registration_Process\"><\/span><strong>What is MSME\nRegistration Process?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>This is the step by step guide to complete the MSME registration<\/strong><\/em><\/p>\n\n\n\n<p>One can opt for the <a href=\"https:\/\/corpbiz.io\/msme-registration\"><strong>MSME registration<\/strong><\/a> by visiting the online portal of udyamregistration.gov.in. As soon as the new users land on the home page, they need to click the option for \u201cNew Entrepreneurs\u201d who are not registered yet as MSME\u201d. These users require entering their Aadhaar card number to get started with the registration process. The inclusion of the PAN number is optional here.\u00a0<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/can-startups-benefit-from-msme-registration-for-better-govt-support\/\">Can Startups Benefit From MSME Registration For Better Govt Support?<\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Registration\nvia PAN Card<\/strong><\/h3>\n\n\n\n<p>After selecting the option \u201cNew Entrepreneurs who are not registered yet as MSME\u201d, the applicant will be routed to a new window where they need to enter their name as well as the Aadhaar number. Next, click on the \u201cValidate and Generate OTP Button\u201d to proceed further. After hitting the aforesaid option, the applicant will receive the OTP which they need to enter on the portal to complete the authentication process. Next, the portal guides the applicant to the PAN verification window. If the applicant holds the PAN card, the portal fetches the PAN information from the relevant government database to complete the filing formalities. However, the detail regarding the <a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>Income tax return<\/strong><\/a> needs to be filled by the applicant itself.\u00a0<\/p>\n\n\n\n<p>As soon as the applicant fills up the PAN\ncard detail, a notification prompts on the screen stating \u201cUdyam Registration\nhas already been done through this PAN\u201d. Upon receiving this message, the\napplicant requires to opt for the Validate PAN button located on the same page.\nOnce this ends, the new window will prompt on the screen asking the user to\nenter their personal as well as business details.&nbsp;<\/p>\n\n\n\n<p>After fulfilling the aforesaid\nprerequisite, choose the option \u201cSubmit and Get Final OTP\u201d. The message of\nsuccessful registration shall appear on the screen along with a reference\nnumber. Upon receiving the data, the authority conducts a thorough verification\nof the same and once they are satisfied, the Udyam Registration Certificate\nshall be issued.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Registration\nin the Absence of a PAN Card<\/strong><\/h3>\n\n\n\n<p>In such an event, the applicant needs to\nchoose an option \u201cFor New Entrepreneurs who are not Registered yet as MSME\u201d on\nthe home page of the portal. It commands the portal to open the registration\npage where an applicant requires filling up their name and their Aadhaar\nnumbers.<\/p>\n\n\n\n<p>Once done, the applicant will receive an\nOTP on their registered mobile number. The same OTP needs to be entered in the\ngiven field on the portal to reach the PAN Verification window.&nbsp;<\/p>\n\n\n\n<p>Here the applicant needs to select \u201cNo\u201d\nlocated under the heading \u201cDo you have PAN?\u201d followed by option \u201c Next\u201d.&nbsp;<\/p>\n\n\n\n<p>The Udyam Registration page shall open on\nthe screen where an applicant is required to fill up the personal along with\nthe business details.<\/p>\n\n\n\n<p>Once done, the applicant needs to click the\nFinal Submit option. The notification shall appear on the screen regarding the\nsuccessful registration along with the registration number. After getting GSTIN\nand PAN, it requires to be submitted on the aforesaid portal within\n01\/January\/2021 to avert the chances of the suspension of the\nregistration.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Registration for Applicant Already Having UAM or EM-II<\/h3>\n\n\n\n<p>Those who have already obtained the\nregistration as UAM or EM-II, need to select an option called \u201cFor those having\nregistration as EM-II or UAM \u201d located on the portal\u2019s home page. This will\nopen a window where an applicant needs to fill up the Udyog Aadhaar Number and\nthen select the OTP option for verification purposes. <\/p>\n\n\n\n<p>The applicant has a dual option in this regard i.e. he\/she can either choose the email or mobile option to receive the OTP. After opting for the OTP option, click \u201cValidate and Generate OTP\u201d. This commands the portal to send the OTP on the selected option. After filling up OTP in the required field, the applicant must enter the registration detail. This shall end the registration process.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_MSME_registration\"><\/span>Documents required for MSME registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"580\" height=\"343\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/10\/image-18.png\" alt=\"MSME registration\" class=\"wp-image-17423\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/10\/image-18.png 580w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/10\/image-18-300x177.png 300w\" sizes=\"(max-width: 580px) 100vw, 580px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_MSME_Registration\"><\/span><strong>Benefits of\nMSME Registration <\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>Entities under MSME Registration have wider access to credit provided by the reputed <strong><em>financial institutions<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Financial_institution\"><strong><em>[1]<\/em><\/strong><\/a><\/sup>. The rate of interest for MSME registered companies fall in the range of 1 to 1.5% which is considerably lower than regular bank loans.\u00a0<\/li><li>MSME registered entities are eligible to carry forward the credit for minimum alternate tax for up to fifteen years.\u00a0<\/li><li>MSME registered entities can rejoice rebates and concessions in the event when the cost of setting up the companies reduces.\u00a0<\/li><li>MSME registration helps the enterprise to gain access to government tender as the Udyam Registration Portal is synched with the Government driven portal that gives access to e-tender and marketplace.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MSME registration offers tons of benefits\nthat include access to government tenders, ease of availing financial credit,\nand relaxation in terms of income tax. Resources and schemes are abundant under\nthe MSME registration hence it becomes important for the small business to take\nadvantage of it to ensure seamless growth. <\/p>\n\n\n\n<p>These are the reasons which make the MSME registration an obvious choice for the business owners who have issues in scaling their business. Hopefully, by now you have learned everything about what is MSME registration. Do not hesitate to get in touch with <a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz\u2019s<\/strong><\/a> professional just in case if you need to fulfill the registration prerequisites without any technical or other obstacles.\u00a0<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/what-is-the-procedure-of-msme-registration-online\/\">MSME Registration \u2013 Know the Entire Procedure<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSME is an abbreviated term of the phrase&nbsp;Micro, Small, and Medium Enterprises. MSME companies provide support to the economy of our country to a greater extend. The MSME sector contributes to 50% of India\u2019s Total Exports, 95% of all industrial units of the country, 45% of Total Industrial Employment. The growth of a country heavily [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":17424,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[176],"tags":[1071],"acf":{"service_id":"71"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3948,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/17422"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=17422"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/17422\/revisions"}],"predecessor-version":[{"id":17428,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/17422\/revisions\/17428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/17424"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=17422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=17422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=17422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}