Documents Required
- Aadhar Card
- Pan Card
- Bank Account Statement
- Address Proof
Process of MSME Registration
Visit The Official Website
Visit the official website of Udyam registration- https://udyamregistration.gov.in/. Click “Welcome to Register Here” and select “For New Entrepreneurs”.
Aadhaar Number
Enter your twelve-digit Aadhaar number and Click “Validate & Generate OTP ” and enter the OTP you receive on your Aadhar-linked mobile number.
PAN Number
Choose the type of your firm among Micro, Small or Medium enterprises, based on the annual turnover and enter the PAN number and click on “Validate.”
Address And Banking Details
Enter the full address and office address of the MSME and then enter the bank details and click on “Submit.”
Business Activity
Enter the main business activity, i.e., manufacturing or services, and the number of employees.
Approval
Select the District Industry Centre (DIC) and accept the terms and conditions and click on “Submit” and “Generate OTP.” Enter the OTP and click on “Final Submit”.
Government Tender
The applicant is given a special priority and has a better possibility of acquiring the Government Tendor.
Bank Loan
The applicant can avail raise loans from the Bank easily such that the certain leverage is given in the rate of interest.
Tax/Tariffs and Subsidies
There are various tax rebates, tariff subsidies and capital subsidies and concession in electricity bills.
Protection against delayed Payments
An interest of thrice the bank rate percent is charged when there is a delay in the payment by the buyer and therefore it gives a protection against the delay in payment from Buyer.
IPR Discounts
Entity registered under MSME gets 50% percent discount in government fees for Trademark and Patent.
Fast Dispute Resolution
The disputes related to any entity or payment due or arrears can be filed in MSME forum and the timeline for dispute resolution is 6 months.