What Is GST eWay Bill?
The transporters in India should carry an e-Way bill under GST when they are moving goods to one place from another place when some particular
MSME Registration is based on the composite criteria of Investment in Equipment/ Plant & machinery and Annual turnover
MSME REGISTRATION | |||
Composite Criteria: Investment and Annual Turnover | |||
Classification | Micro | Small | Medium |
Manufacturing & Services | Investment < Rs 1 cr And Turnover < Rs 5 cr | Investment < Rs 10 cr And Turnover < Rs 50 cr | Investment < Rs 20 cr And Turnover < Rs 100 cr |
The following documents are required for MSME registration:
1. BUSINESS ADDRESS PROOF:
If the premise is self –owned.
| If the premise is rented
|
Submit Allotment letter, possession letter, lease deed, or receipt of property tax for MSME registration | Rent receipt and no-objection certificate from the landlord is required for MSME registration |
If there is a municipal license on behalf of a company or on behalf of a business owner, partner, or agent, no other certificate of ownership is required. | Any utility bill or record that shows ownership of the landlord shall be submitted. |
2.COPIES OF SALES BILL AND PURCHASE BILL:
For MSME registration, Business is required to submit a copy of the sales bill related to each end product that it will supply. Also, for each raw material that it will purchase, a purchase bill has to be submitted.
3. PARTNERSHIP DEED/ MOA & AOA:
If the business is a Partnership firm
| If the business is a Company
|
Submit the Partnership deed | Copy of Memorandum of Association(MOA), Article of Association( AOA) and Certificate of Incorporation( COI) is to be submitted |
When the partnership firm is approved, it must also give registration certificates. | Copy of resolution passed in general meeting. A copy of the board resolution shall be sent authorizing a director to sign the MSME submission. |
4. COPY OF Acquired LICENSES AND BILLS OF MACHINERY
The applicant must, in a few cases, submit a copy of an industrial license to be obtained by submitting a request to Govt. of India. Furthermore, all bills and receipts relating to the procurement and installation of the plant and equipment must be kept secure and must be submitted on request.
Businesses who want to register as MSME will need to register their business on the “Udyog Aadhar Memorandum (UAM) portal.” The registration process is free for every user.
MSME Registration can be done offline as well as online.
Following are the steps for online MSME registration:
Step 1. Visit UAM portal and keep your Aadhar card handy (Mandatory). click here
Step 2. Enter your 12 digit Aadhar number and name of the entrepreneur
In the case of a proprietorship company, the Aadhaar number shall be of the proprietor’s, in the case of a partnership firm, the managing partner, and a Hindu Undivided Family (HUF), a Karta.
In the case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organization or its authorized signatory shall provide its GSTIN and PAN and its Aadhaar number.
Step 3. Then, click on ‘’Validate & Generate OTP’ and enter the OTP for verification. You’ll need to fill out the online registration form until verification is completed.
Step 4. Fill the following details:
Step 5. Then, click on submit to generate OTP, which will be sent to the email id mentioned in the form for registration.
Step 6. Enter Aadhaar OTP received on mobile for the second time and click on ‘Final Submit.’
Step 7. You will receive an acknowledgment number via email once the registration is complete
Step 8. Once your details are verified, the UAM number is generated for your business. You can use this MSME Registration number for the various benefit of MSME’s.
MSME Registration is not mandatory. If you want to register, your company will enjoy a scheme of excise exemption from direct taxes, take advantage of special programs created for MSMEs by banks, and many more.
Registered companies with an MSME certificate would also benefit from various government departments, including electricity.
The list below are some of the benefits of MSME Registration to companies:
Some of the schemes are as follows:
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