Micro, Small, and Medium-Sized Enterprises, or MSMEs, are the foundation of the Indian economy. In a country with more than 160 crore inhabitants, small industries have enormous growth potential.
Small-scale industries, or SSIs, should register as MSMEs to take advantage of the many government perks available. According to the MSME Act, you can register as an MSME regardless of whether your business is a manufacturer or a service provider.
A company may be categorised as Micro, Small, or Medium sized depending on the amount of investment and the amount of yearly turnover.
This post will discuss MSME registration, the advantages it has for your company, and how to get the MSME certificate for nothing online.
An MSME Certificate: What Is It?
In order to take advantage of several perks and government programmes, micro, small, and medium-sized businesses in India can register with the government. You receive a certificate known as the MSME Certificate or Udyam Certificate once registration is complete.
The MSME Certificate demonstrates that your small business is legally recognised in India, making it eligible for all related government advantages.
Although it is not required, you should register with MSME in India for a variety of reasons. Benefits related to business financing, loans, credit eligibility, and taxation are associated with MSME registration.
Government loans to MSMEs totaled 9.5 trillion in FY21, a 40% increase from FY20. Additionally, the government has implemented a number of programmes and policies to support MSMEs.
With an MSME registration certificate, you can benefit from these advantages.
- Make use of low-interest business loans.
- Obtain advantageous government contracts.
- Easy access to licences, registrations, and approvals.
- Receive reimbursement for the cost of the ISO certificate.
- Utilise capital, tax, and tariff subsidies.
- Comply with direct tax laws and be exempt.
- With bank loans, receive a 15% subsidy on automatic equipment.
Overall, after reviewing the qualifying requirements, every small and medium business should complete its MSME registration.
How do I download an online MSME certificate?
By submitting an online application on the government website, a business can register under the MSME Act. The Ministry of MSME will provide you with an MSME certificate following your successful registration.
The Udyam or Udyog Aadhaar Certificate, another name for the MSME certificate, has a lifetime validity. The MSME certificate is available for easy download from the Udyam Registration website.
- Check out the Udyam Portal.
- An option to print or verify is available in the top right corner of the webpage.
- Choose the Print Udyam Certificate option from the menu.
- The Udyami Login page will then open.
- Enter the necessary information, including your 16-digit Udyam Registration phone and the mobile phone you provided on the MSME registration application, on the login page.
- Select an OTP choice from the list of fields below. To obtain an OTP, follow these two steps:
- OTP as filled out application on mobile
- OTP through Email as well as Completed Application
- Select the choice that is most practical for you, then click Validate & Generate OTP.
- Enter the received OTP and click Validate OTP & Print on the following screen.
- On the home screen, you may now access the information from your Udyog Aadhaar Certificate.
- Choose Print or Print with Annexure at the top middle of the page to obtain a certified copy.
- Only the MSME certificate will be displayed if you choose to print.
- The certificate will be included with the Udyam Aadhaar Memorandum (UAM) application if you choose Print with Annexure.
To access the certificate later, you may also store it as a PDF on your computer or smartphone.
Suggested Read: Update Udyam Certificate