UDYOG AADHAR/UDYAM Registration

 

"If people are doubting how far you can go, go so far that you can’t hear them anymore.”

 

MSME (MICRO, SMALL & MEDIUM ENTERPRISES)

The aim of Udyog Aadhar/UDYAM Registration is to simplify the process for the business owners to register their business under Micro Small Medium Enterprise or MSME. Udyog Aadhar is a government registration that is provided along with a recognition certificate and a unique number [Udyog Aadhaar Memorandum No. (UAM)]. In order to certify small/medium businesses or enterprises. The main motive to launch this facility is to offer a way to the government to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via MSME. Now, it has become one of the main requirements to resume your business in the phase of COVID-19 during the lockdown.

Recently, Ministery of Micro, Small & Medium Enterprises, Govt. of India, launched a web portal for MSME Bank of Schemes, Ideas, Innovations & Research. Union Minister Sh.Nitin Gadkari said that his vision is to increase MSMEs contribution to India’s GDP to over 50% from the current 29% and Exports’ contribution which currently stands at 50% from the sector will be increased to 75%.

Contirbution of MSME in Indian Economy

v  MSME’s contribute Approx. 29.7% of GDP and 49.66% of Indian Exports.

v  Estimated Employment  (number of persons) generated in micro enterprises  during the year 2018-19 was  5.87 Lakhs

v  Estimated number of workers in unincorporated non-agriculture MSMEs in the country are 11.10 crore

Revised Definition of MSME

Sector

Manufacturing

Service Enterprises

 

Existing

Revised

Existing

Revised

Micro Enterprises

Investment < 25Lac

Investment<1Cr.

And

Turnover<5Cr.

Investment < 10Lac

Investment<1Cr.

And

Turnover<5Cr.

Small Enterprises

Investment < 5Cr.

Investment<10Cr.

And

Turnover<50Cr.

Investment < 2Cr.

Investment<10Cr.

And

Turnover<50Cr.

Medium Enterprises

Investment < 10Cr.

Investment<20Cr.

And

Turnover<100Cr.

Investment < 5Cr.

Investment<20Cr.

And

Turnover<100Cr.

Reforms by Indian Government for MSME Sector

1.      Rupees 3 Lakh Crore Collateral free automatic loans for MSME’s.

Ø  Emergency credit line to MSME from banks and NBFC’s upto 20% of entire outstanding credit as on 29.02.2019

Ø  Loan to have 4 year tenure with moratorium of 12 Months on Principal Repayment

Ø  Interest to be capped.

Ø  Borrowers with upto Rs. 25 Crore Outstanding and Rs 100 Crore Turnover is eligible to avail the facility.

Ø  100% Guarantee on principal and interest borne by Government.

Ø  Scheme can be availed till 31st October 2020.

2.      Rupees 20000 Crore Subordinate Debt for  stressed MSME’s

3.      Rupees 50000 Crore Equity infusion for MSME’s through Fund of Funds

4.      E-Market linkage for MSME’s to promote Trade

5.      MSME receivables from Government and PSU’s to be released in 45 days

6.      Global Tenders to be disallowe upto Rs. 200 Crores.

There are various stage through which an entrepreneur has to pass before establishing own business. These are as follows:

 

Thanks & Regards :

TAXSHOP CONSULTANCY (OPC) PVT. LTD.

 

Reach us at - www.taxshop.in

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Call - +91 97296-65710

Mail -taxshopconsultancy@gmail.com, taxshop@rediffmail.com

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