- The Micro- Small and Medium Enterprises (MSMEs) are small sized entities, defined in terms of their size of investment. Government promotes MSME through various schemes, subsidies and incentives. MSMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural and backward areas.
- MSME (Micro Small & Medium Enterprises) plays a very important role in the economy. Such enterprises provide support to the industries through raw material supply and supply of goods & finished product. In India, MSMEs are classified in terms of investment made in plant & machinery and equipment.
- Although getting MSME online registration is an easy task and it provides a variety of benefits:-
- Rate of interest charged would be very less,
- Tax subsidies
- Capital investment subsidies
- power tariff subsidies
- credit guarantee scheme
- benefits from Governments (State & Central)
- lower cost procurement
- cheaper bank loans
- Opportunities for growth
- Login to the Udhyog Aadhaar website.
- Enter Aadhaar details:-
- Enter 12 digit Aadhaar card of the applicant
- Complete OTP verification process
- Preparation of application by entering below information:-
- fill applicant’s name
- Social category
- name of enterprise
- type of organization
- location of plant
- contact number
- email id
- date of commencement
- major activity
- NIC code
- persons employed
- DIC office details, where business is established
- Application process
- documents to be submitted to DIC office regarding its registration
- Issuance of registration certificate
- Name of enterprise
- Proof of Applicant’s:-
- Aadhaar Card &
- Pan Card
- Other relevant information required :-
- Applicant’s email id &
- Contact number
- Bank Account details includes:-
- Bank name
- Bank Account number
- IFSC Code
- Relevant Documents required:-
- In case of partnership, Partnership deed
- In case of Company, Copy of MOA & AOA
- Copy of resolution passed authorizing a director to sign the MSME application is also to be submitted.
- Business address Proof (any one utility bill)
- Electricity Bill or
- Gas bill
- If premise is on rent,
- Rent/Lease agreement
- NoC from landlord
- List of disclosures:
- Cash receipt,
- Proof of the value of machine or equipment
- Declaration by proprietor/Director/manager with seal stating all above information is true and nothing in it is false.
- Any other relevant information required, if any
- What about certificate generation after registration and its validation?
- What is the eligibility criterion for MSME / SSI Registration?
- Sole proprietor
- Hindu Undivided Family
- Partnership firm
- One person company
- Limited liability partnership
- Private limited company
- Co-operative societies
- Society
- Trust
- When MSME Registration Certificate will be issued?
- Who has the authority for Registration of MSME?
- Which form is required to file with ROC?
- What is Provisional Registration Certificate (PRC)?
- Is any disclosure required to be made in the audited financial statements, of the buyer?
- the principal amount and the interest due thereon (to be shown separately) remaining unpaid to any supplier as at the end of each accounting year;
- the amount of interest paid by the buyer in terms of section 16, along with the amount of the payment made to the supplier beyond the appointed day during each accounting year;
- the amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act;
- the amount of interest accrued and remaining unpaid at the end of each accounting year
- the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprise, for the purpose of disallowance as a deductible expenditure under section 23.
- What are the compliances a company needs to make with ROC?
- the amount of payment due and
- the reasons of delay
- Which form to be filed by the specified companies?
- Every Specified company needs to file MSME Form I with all details of outstanding dues to MSME suppliers within 30 days from the date of publication of this notification dated 22nd January, 2019
- Every Specified Company shall file a return as per MSME Form 1.
- What is the time period of filling the form (MSME Form 1) to ROC?
For Time Period | Date of filling |
April to September | 31st October |
October to March | 30th April |
- What are the liabilities under companies Act, 2013, if specified companies fail to file form MSME -1?
- with fine which may extend to twenty-five thousand rupees and
- every officer of the company who is in default, shall be punishable with imprisonment for a term which may extend to six months or
- with fine which shall not be less than twenty-five thousand rupees but which may extend to three lakh rupees, or with both.
- Which MSME do require renewing their certificates?