MSME / Udyam Registration
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is given below.
The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for policy making and administering laws relating to micro, small and medium enterprises in India.
Based on investment and turnover criteria a business falls in one of the three categories of Micro, Small or Medium.
If a business crosses the specified ceiling limits for its present category in either of the two criteria of investment or turnover, it will stop to fall in that category and be placed in the next higher category but no business shall be placed in the lower category unless it goes below the ceiling limits specified for its present category in both the criteria of investment as well as turnover.
Micro Enterprise; an enterprise where the investment in plant and machinery does not exceed Rs. 1 Crore & turnover less than Rs. 5 Crore is considered as Micro enterprise according to recent MSME guidelines.
Small Enterprise; an enterprise where the investment in plant and machinery is less than 10 Crore & turnover less than Rs. 50 Crore is considered a small enterprise according to recent MSME Guidelines.
Medium Enterprise; an enterprise where the investment in plant and machinery is less than Rs. 50 crore & turnover less than Rs. 250 Crore is considered as Medium enterprise according to recent MSME guidelines.
Documents Required for MSME Registration:
- Name of Applicant (Authorised Director/ Partner/ Owner)
- Copy of PAN Card of Directors
- Address of Registered Office
- Passport Size Photograph of Directors
- Copy of Aadhaar Card of Authorised Person
- Name of Business (COI / LLP DEED/ Partnership Deed)
- PAN of Business
- Bank Account Number + IFSC Code
- Last year ITR Filed Copy if Existing Business
- If New Business, Provide Declaration for Turnover and Investment in Plant & Machinery
- Number of Employees