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MSME/SSI Registration - An Overview

Small enterprises are critical for the growth of any country’s economy. The Indian government has created a number of initiatives to help small and medium-sized enterprises survive and flourish in order to encourage new and current firms. To take advantage of any of these advantageous programmes, you must first complete your MSME registration. Udyog Aadhaar or SSI registration are other terms for MSME registration.

PROCESS

MSME registration is completely online. MSME online registration is to be
done in the government portal of udyamregistration.gov.in. The registration of
MSMEs can be done under the following two categories in the portal –

1. For New Entrepreneurs who are not Registered yet as MSME or those
with EM-II

The button “For New Entrepreneurs who are not Registered as MSME or those with EM-II” shown on the home page for registering MSME must be clicked by new entrepreneurs and entrepreneurs with EM-II registration. By providing the PAN number and Aadhaar card number, a new MSME registration is completed.
The “For New Entrepreneurs who are not Registered as MSME or those with EM-II” button on the government portal’s home page opens the registration page and requests the entrepreneur’s name and Aadhaar number. The “Validate and Generate OTP Button” must be clicked after entering these details. The PAN Verification page opens after this button is clicked, the OTP is obtained, and it is input.
The “Type of Organization” and PAN Number must be entered by the business owner before pressing the “Validate PAN” button. The portal obtains the PAN information from the government databases and verifies the entrepreneur’s PAN number.
Udyam Registration form will appear after the PAN has been verified, and the business owners must fill it out with their personal information and information about their factory or industry.
“Submit and Get Final OTP” button must be pressed when all the information on the MSME registration form has been entered. A notice stating that the MSME online registration process was successful and providing a reference number will then display. For further use, write down the reference number. The Udyam Registration Certificate is issued following verification of the MSME registration form, which could take a few days.

2. For those having registration as UAM and For those already having
registration as UAM through Assisted filing

The button labelled “For those having registration as UAM” or “For those already having registration as UAM through Assisted filing” must be clicked by those who are already registered as UAMs. This will bring up a window where you may enter your Udyog Aadhaar number and choose an OTP option.
You have the choice of obtaining the OTP via email or mobile with the filled-out UAM. The “Validate and Generate OTP” button must be hit after selecting the OTP Options. After inputting the OTP, the MSME registration form must be completed out with the necessary information, and Udyam registration is then complete.

Documents Required for MSME/SSI Registration

Applicant’s Aadhaar card
Applicant’s PAN
Company PAN (not applicable in case of a proprietorship firm)

Benefits of MSME Registration

The following are the major benefits given to registered MSMEs under the Micro, Small & Medium Enterprises Development (MSMED) Act:

Under the credit guarantee fund plan for micro and small businesses, you can acquire unsecured loans from banks (CGS)
Some items have been designated for production by small businesses only.
It becomes much easier to obtain permits, registrations, and approvals for your microenterprise once you have received the MSME certificate. It will be easier to complete these forms if you can produce your MSME certificate.
Participating in international trade fairs, exhibitions, and buyer-seller meetings earns you preferential treatment. You can also host international seminars and conferences in the MSME sector's interest.
When you register as an MSME, you may get a lot of things done for free: Patent registration, barcode registration, NSIC performance and credit ratings, industrial promotion subsidy (IPS) subsidy, ISO certification, electricity bill
Banks charge a lower interest rate to MSME registered businesses than they do to other businesses.
The CLCSS scheme, which gives a 15% capital subsidy up to 15 lakhs for the purchase of equipment and machinery, was launched to foster technical advancement among micro companies.
When a microenterprise applies for a government procurement, the ministry of micro, small, and medium enterprises provides the following benefits:
- Tender sets can be distributed for free.
- They are not required to pay earnest money.
- Up to a particular monetary limit, the security deposit is waived.
The Act also provides for a variety of supplementary benefits, which are introduced through annual budgets.

FAQs

Who is eligible for MSME?

The business must fall within the government's investment or turnover restrictions in order to be eligible for MSME registration. It makes no difference if you're an LLP, a one-person firm, or a Hindu joint family.

Is it mandatory to register under MSME?

No, MSME registration is not obligatory. However, it is recommended that you register because it provides you with a number of advantages that you would not otherwise have.

What is the validity period of the MSME certificate?

MSME certificates are valid for as long as the business is open and operating. If you acquire a provisional certificate, on the other hand, it is only valid for 5 years

How does SSI/MSME registration help me get a loan from a bank?

MSMEs/SSIs are recognised by all financial institutions, including the major banks, who have designed special programmes for them. MSMEs and SSIs are designated as priority sector borrowers and are eligible for lower-interest loans from a restricted group of banks.

What if I don’t start my business within 5 years of getting provisional registration?

You must reapply for provisional registration if you have not started your business within 5 years after receiving provisional registration. If you start your business within those five years, however, you can seek for permanent registration.

Is an Aadhaar card mandatory for MSME registration?

Yes, an Aadhaar card is mandatory for MSME registration.

Within how many days I can get the MSME certificate?

You can get your MSME certificate within 5-7 days.

Is the process completely online?

Yes, the process is 100% online.

What is the difference between Udyog Aadhar and MSME?

The registrations for Udyog Aadhar, SSI, and MSME are all the same. They're now referred to as udyam registration.

Can we edit Udyog Aadhar?

Yes, it is possible to edit udyog Aadhaar.