A Complete Guide to MSME Registration in India

It is important for every business to get a valid registration in India. MSME actually means micro, small, or medium-sized business enterprise in India. These businesses are the pillars or background of the Indian economy. Small and medium-scale businesses offer necessary resilience when it comes to supporting the economy of the country during an economic crisis. The contribution of the MSME is around 6.11% to 33.5%. It is very important to be a part of the registration if your business is a small-scale or medium-scale business. According to the act, MSME registration is compulsory. After the registration, there will be various benefits and perks like quick business loans offered to the business as per the MSME ACT.

MSME registration provides several benefits to companies in terms of taxation and credit facilities to scale the business up. Let us dig deeper to find out more about MSME registration in India.

The process of MSME registration in India

●        To start the process of MSME registration, it is important to visit the official website, https://udyamregistration.gov.in/. It is important to do the registration using the PAN card and Aadhaar card number. The registration process is easy to obtain and valid when you visit the official website.

●        If you are a new user, it is important to click on the section that says "for new entrepreneurs who are not registered as MSME" on the official portal and website. It is applicable for users registering for the first time.  Click here for cibil score check free.

●        Enter all the details and information, like your Aadhaar card number and your name. Make sure your name spelling matches that on your Aadhaar card.

●        An OTP will be sent to your registered contact number. Validate the OTP number.

●        With the help of the PAN card number, the official website helps you fetch all the details from the database of the government agency.

●        Validate all the details that are there in your PAN Card number. It is important to fill in all the details in the ITR. It will fetch all the information that is there related to your business or firm.

●        Once you submit all the relevant and required information, you will have to submit all the information with a final OTP. This OTP will be sent to the e-mail address you provided.

●        After this, the MSME registration will be completed. You will find a reference number that helps you track your progress. The verification of the MSME registration will take a few days. After that, you will be able to get the right registration certificate.

Summing up

Quick business loans are very important for small and medium-scale businesses. After an MSME registration, the business loan apply online process becomes affordable and easy.