MSMEs (Micro, Small & Medium Enterprises)
As per the revised guidelines issued by The Ministry of Micro Small and Medium Enterprises, any manufacturing or services business can be classified as a Micro / Small / Medium Enterprise depending on the following criteria.
| Parameters |
Micro Enterprises |
Small Enterprises |
Medium Enterprises |
| Investment in Plant & Machinery Or Equipment |
Not more than Rs 1.0 Cr |
Not more than Rs 10 Cr |
Not more than Rs 50 Cr |
| Annual Turnover |
Not more than Rs 5.0 Cr |
Not more than Rs 50 Cr |
Not more than Rs 250 Cr |
These guidelines are effective from 1st July 2020. The notification issued by The Ministry of Micro Small and Medium Enterprises is attached here for easy reference.
Udyam Registration
Businesses can register themselves with The Ministry of Micro Small and Medium Enterprises and get certified as MSMEs. Upon registration, the business is provided with a Udyam Registration Certificate and a unique Udyam Registration Number.
The process for Udyam Registration is completely online and can be completed on the website of the Ministry of Micro, Small, and Medium Enterprises of the Government of India using the link below.
https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm
PAN and GSTIN of the Business are required for Udyam Registration with effect from 01.04.2021.
Udyam Registration is a one-time process and is free of cost. There will be no need for renewal of Registration.
Aadhar No. of Proprietor, Managing Partner, or Director is required for Udyam Registration.
Businesses with Udyam registration are eligible for various benefits offered by the Government to MSMEs.
Udyam registration is also required for getting loans under the lending programs for MSMEs run by the Banks.
Udyam
registration is also required for getting loans under the lending programs for
MSMEs run by the Banks.