Discover the key documents needed for MSME (Udyam) registration in India.
To promote MSMEs, which are the backbone of the Indian economy, the MSMED Act facilitates a lot of schemes, subsidies, and incentives. To be able to benefit from these, you need to get your MSME registered, although it is not compulsory.
The full form of MSME is Micro, Small, and Medium Enterprises. These industries are the most important part of the economy of a developing country like India, MSME industries are the backbone of the economy. When these industries grow the economy of the country automatically grows as a whole and flourishes. These industries are also known as small-scale industries.
Even if the Company is in the manufacturing line or the service line, registrations for both these areas can be obtained through the MSME act. This registration is not yet made mandatory by the Government but it is beneficial to get one’s business registered under this because it provides a lot of benefits in terms of taxation, setting up the business, credit facilities, loans, etc.
The MSME became operational on October 02, 2006. It was established to promote, facilitate and develop the competitiveness of the micro, small and medium enterprises.
Details Required for the MSME Registration:
APPLICANT NAME
- APPLICANT NAME
- MOBILE NUMBER
- EMAIL ID
- OFFICE ADDRESS
- SOCIAL CATEGORY
- AADHAAR NUMBER
- PAN CARD NUMBER
- BANK ACCOUNT NUMBER
- IFSC CODE
- DATE OF COMMENCEMENT OF BUSINESS
TYPE OF ORGANIZATION
MAIN BUSINESS ACTIVITY OF ENTERPRISE
NUMBER OF EMPLOYEES
INVESTMENT IN PLANT & MACHINERY / EQUIPMENT
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