MSMEs, standing for Micro, Small, and Medium Enterprises, are the pillars of India’s economy. Small industries have a huge scope for growth in a country with over 160 crore people.

MSME industries are the backbone of the economy. They are also known as Small Scale Industries (SSIs). The government of India provides an MSME registration to the industries classified by the government as Micro, Small and Medium Enterprises (MSME) in India. The MSME registration helps MSMEs to obtain various benefits provided by the government for their establishment and growth.

Initially, when the government introduced the MSME registration in 2006, the MSME classification was based on the investment criteria in plant and machinery or equipment. The government revised the MSME classification by inserting annual investment and annual criteria. Also, the distinction between the manufacturing and the services sectors under the MSME definition was removed.

Every Micro, Small or Medium must enrol itself for issuance of Udyog Aadhar, this enrollment is valid for lifetime and can be obtained by those units or enterprises which have already started operations and not for the enterprise which is planned to be started.

The MSME/Udyog Aadhar Registration is only needed to avail of benefits, subsidies provided by government to small scale industries and service providers time to time. It is absolutely voluntary. However, as it is a fairly easy registration to get quickly (provided you have a manufacturing plant or a commercial space where you render services), many business opt for it over other registrations.

•   Aadhar number for Registration
•  Having PAN & GST numbers is mandatory
•  Name of Applicant
•  Official Address
•  Type of Organization
•  Mobile Number
•  Key Details of service or manufacturing
•  Bank Details
•  Number of persons employed
•  Date of commencement

Following are the benefits of Udhyog Aadhaar:

•   Helps in providing bank loan without collateral or mortgage
•  Helps in tax exemption of direct tax
•  You can avail interest at lower rate
•  In case of patent registration 50% grant is available
•  Reimbursement of ISO certification
•  Makes the process of availing licences, approvals and other registrations easy
•  Concession in electricity bill and more
•  Eligibility for government subsidies
•  Applying for current bank accounts for businesses is easier and faster
•  Barcode registration subsidy
•  Manufacturing and production sector policies
•  Provides protection against any delay in payments
•  Licensing, approvals, and registrations are accessible.
•  Direct tax laws rule exemption

The Udyog consultancy services at FINANCETAXSERVICES.COM are pocket-friendly which will be within the budget limit of the client. You can register any time anywhere by giving us a call.

We have served small, medium and big businesses fight the fear of taxation phantom through sound consultation and on-time service delivery for years.

We earned our reputation as a reliable tax consultant for businesses and individuals through its persistent commitment and a track record that speaks volumes of our credibility.

Resellers you can also call and have a business tie up.

Want to know more relating to MSME/UDYOG, Email us on taxandfinanceservice@yahoo.com now and we would be happy to assist you!