Accounting
LLP vs Pvt Ltd – Which Business Structure is Right for You?
Introduction Choosing the right business structure is crucial for long-term success. Two of the most popular structures in India are the Limited Liability Partnership (LLP)
Over 6,000 entrepreneurs across India trust SubmitReturn for starting and managing their businesses. Choose SubmitReturn as your reliable online legal partner for business registrations such as Udyam/MSME registration. We offer affordable pricing, quick turnaround, and dedicated support. Our team of expert CAs, CSs, and lawyers will guide you at every step and answer all your queries.
MSME/Udyam registration is a Government of India initiative that provides micro, small, and medium enterprises (MSMEs) with a legal and operational identity. Formerly known as MSME registration or Udyog Aadhaar registration, it is governed by the MSME Development Act, 2006. In 2020, the process was updated to Udyam registration to simplify registration and promote business growth. The process is entirely online and based on self-declaration. Registered businesses can avail a wide range of benefits under the MSME scheme, including easier access to loans, simplified registrations, priority in government tenders, and protection against delayed payments.
Businesses eligible for MSME/Udyam registration online fall under three categories:
Micro Enterprises: Investment in plant and machinery up to ₹1 crore and annual turnover not exceeding ₹5 crore.
Small Enterprises: Investment in plant and machinery up to ₹10 crore and annual turnover not exceeding ₹50 crore.
Medium Enterprises: Investment in plant and machinery up to ₹50 crore and annual turnover not exceeding ₹250 crore.
MSME-registered businesses can avail a range of government benefits, including the Credit Guarantee Scheme, financial subsidies, and safeguards against delayed payments.
Streamlined compliance requirements and hassle-free access to necessary licenses and approvals.
Qualification for unsecured loans with reduced interest rates.
Priority in government contracts and enhanced business prospects.
A Copy of the proprietor’s Aadhar card or of director(s) or partner(s) in other cases for Udyam Aadhar Registration.
Certificate of Incorporation or Registration Certificate mentioning the type of business.
GST Number Certificate issued by the GST Department to a business if applicable.
The passbook or Cancelled cheque of the bank account is must.
Certificate of Incorporation or Registration Certificate mentioning the type of business.
If place is rented, rent agreement is mandatory, else consent letter is sufficient
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Udyam registration certificate is a certificate provided to all Udyam registered entities. It is provided as a downloadable pdf/soft copy by the Government on the registered email id of the applicant or entity. The certificate is available on Udyog Aadhar portal. And can be downloaded using the applicant’s Aadhar number.
No, you do not have to renew your Udyam registration. It’s a permanent registration, it stays valid for as long as the registered business exists.
With a notification issued dated 27.06.2017, the ministry has excluded activities of wholesale or retail trading; Fishing and aquaculture; Forestry and logging; and more. Business entities engaged solely in activities falling under such categories cannot make an application for registration. Pursuant to an update in 2021, retail and wholesale traders other than those dealing with motor vehicles and motorcycles are now eligible for Udyam registration.
There are zero government fees charged for Udyam Aadhar Registration online. However, you can go for assisted filing services for MSME registration and professional fees will be applicable.
Yes, the Aadhar card of the applicant is mandatory for Udyam/Udyog Aadhar registration. In case, the applicant is a proprietorship firm, the proprietor’s Aadhaar is required. If it’s a HUF Karta’s Aadhaar is needed. In the case of a partnership firm the Aadhaar of the managing partner has to be provided and in the case of an LLP or Company, the Aadhar of an authorized signatory must be provided.
No, GST Number is not mandatory for MSME Registration. However, it is mandatory to mention the GST number if obtained earlier.
This is a voluntary registration and not mandatory. Nevertheless, udyam registration is highly recommended due to the benefits available to registered businesses.
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Get your business recognised as MSME