About Us KIP is a registered company, incorporated in 2008 to provide quality work, consultation and advisory services in the field of Accounting, Auditing and Assurance, Taxation and regulatory, Company registration, LLP formation, Project reports and Business registrations to its clients. KIP is managed by a very strong team of qualified and experienced professionals comprised of Chartered Accountants, Management Graduates and Post-Graduates.
MSME registration, also known as Udyam registration, is available to entities that meet the MSME classification. This registration can be applied for through the government’s Udyam portal, which offers a fully online process. While obtaining MSME registration is not mandatory, it is highly advantageous. Registration provides numerous benefits including tax incentives, simplified business setup processes, access to credit facilities, and eligibility for loans.
All manufacturing, service industries, wholesale, and retail trade that fulfill the revised MSME classification criteria of annual turnover and investment can apply for MSME registration. The following entities are eligible for MSME registration :
● Individuals, startups, business owners, and entrepreneurs
● Private and public limited companies
● Sole proprietorship
● Partnership Firm
● Limited Liability Partnerships (LLPs)
● Self Help Groups (SHGs)
● Co-operative societies
● Trusts
● A micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees.
● A small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
● A medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
GST registration is not compulsory for enterprises that do not require a GST registration. However, enterprises that mandatorily need to obtain GST registration under the GST law, must enter their GSTIN for obtaining the MSME Registration or Udyam Registration.
MSME registration online can be done under the following two categories in the portal –
● For New Entrepreneurs who are not Registered yet as MSME or those with EM-II
● For those having registration as UAM and For those already having registration as UAM through Assisted filing
Below listed are the MSME registration benefits:-
● Due to MSME Registration India, bank loans become cheaper as the interest rate is very low, around 1-1.5%, much lower than interest on regular loans
● It also allowed credit for minimum alternate tax (MAT) to be carried forward for up to 15 years instead of 10 years
● Once registered the cost of getting a patent done, or the cost of setting up the industry reduces as many rebates and concessions are available
● MSME registration helps to acquire government tenders easily as Udyam Registration Portal is integrated with Government e-Marketplace and various other State Government portals which give easy access to their marketplace and e-tenders
● There is a One Time Settlement Fee for non-paid amounts of MSME
● The MSME registration will help the MSMEs in availing the benefits of government schemes such as the Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, Public Procurement Policy, Protection against delayed payments, etc.
● MSMEs are eligible for priority sector lending from banks
● MSMEs get the benefit of a government security deposit waiver that is helpful while participating in e-tenders
● Any number of activities, including service or manufacturing or both, may be added or specified in one MSME registration
● Barcode registration subsidy
● Exemption scheme from direct taxes
● ISO certification fees reimbursement
● Electricity bills concession
● Special consideration in International trade fairs
Call Us : 8683898080
E-mail Us : sales@kipfinancial.com
KIP Financial Consultancy Pvt. Ltd.
DSB – 38, Red Square Market, Hisar – 125001 (HR)
Make Effective Business Subsidy Planning
Download Block and Gram Panchayat Mapping –
Make Effective Business Subsidy Planning
Download Block Category –