Udyam Registration for MSMEs
MSME stands for “Micro, Small and Medium Enterprises”. MSME is the backbone of the economy of the country. MSME plays a crucial role in the growth and development of any economy. As such, to promote MSME, MSMED Act 2006 was formulated by the Government. To take the various benefits from the Government and banking sector under the MSMED Act, MSME registration is required. However, MSME registration is not mandatory but it is advisable to obtain MSME registration.
MSME are of 2 types:
- Manufacturing Enterprises
- Service Enterprises
- Wholesale & Retail Traders
MSME registration is now Aadhaar based. It is a unique 12 digit Government Identification Number issued by the Ministry of MSME for all small, medium enterprises & small scale industries. This registration is also known as “Udyam Registration”. The Government has now allowed wholesale and retail traders to be included in MSMEs and therefore these shall also be eligible for obtaining "Udyam Registration".
For new entrepreneurs who are not registered yet as MSME can easily enroll for MSME registration and obtain Udyam Registration from TaxWink. TaxWink expertise services securely help you in getting a certificate of Udyam Registration online in less-time. Look further to know documents required, fee charges, benefits, and process.
