MSME Udyam Registration
Union MSME Ministry launched the Udyam Registration Portal on 1st July 2020. The portal has proven its worth both in terms of flexibility and features. At present, the portal has more than 11 lakh registered MSMEs (Micro, Small and Medium Enterprises) that have completed their registration process on a self-declaration basis. The Finance Minister introduced this registration process as a part of the Prime Minister’s relief package amid Covid 19 pandemic.
Every businessman has somewhat idea about Udyam registration that these are for getting benefits of government schemes but the confusion in the minds is what is the difference between MSME Registration and Udyam Registration?
What is MSME Registration?
MSME registration came into force in 2nd October, 2006 to promote and develop the competitiveness of Micro, Small and Medium Enterprises. It is well known to everyone that MSMEs are that important stuff without which a developing country like India even can’t imagine its growth and development. Hence it was important for the government to enhance the units of MSMEs for which MSME registration was launched so that the registered once can get the benefits of the government schemes.
What is a Micro Small and Medium Enterprise?
As per the MSMED Act, 2006, MSMEs and SSIs were enacted to strengthen and boost the Small-Scale sector in India. Earlier, both Service and Manufacturing were considered distinct and separate from each other, having different amount prescribed for the Investment Required.
However, as per the latest amendment made in the definition of MSME by the Ministry of Finance, the difference between the manufacturing and service sectors has been eliminated, Investment Limits have been Revised, and a Turnover Criteria has been introduced. This amendment was announced by our Finance Minister, Mrs. Nirmala Sitharaman, on 13 May 2020. The following listed are considered as MSMEs under the MSMED Act, 2006:
Benefits of MSME/Udyam Registration in Jaipur
Below are some of the benefits that can be enjoyed by the enterprises after getting MSME registration: –
- Get access to the government special tenders which are open for MSME industry only.
- Can avail a bank loans at cheaper interest rates.
- Benefits of tax rebates.
- Patent registration at lower cost.
- Preference for government licenses and certifications.
- Access to all state and central government schemes.Benefits of tax rebates.
- Patent registration at lower cost.
- Preference for government licenses and certifications.
- Access to all state and central government schemes.
Documents Requirement for MSME/Udyam Registration in Jaipur
The documents needed for obtaining online MSME Registration are as follows:
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- PAN Card Details of the proprietor/ all the directors/all the partners.
- Aadhar Card Details of the proprietor/all the directors/all the partners.
- Proof of ownership of the place being used as a Registered Office such as the Allotment Letter/Lease Agreement/Possession Letter/Property Tax Receipt.
- If in case the place being used is a rented premise, then the Rent Agreement with the No-Objection Certificate (NOC) from the landlord together with the utility bill.
- Copy of Purchase Bill of every raw material purchased.
- Copy of Sale Bill for each end product.
- A Copy of Partnership Deed in the case of a Partnership Firm.
- Copy of Memorandum of Association (MOA) and Articles of Association (AOA) and Certificate of Incorporation (COI) in the case of Private Limited Company together with the Board’s Resolution passes authorizing the director to sign the application.
- Copy of the Industrial License as acquired under the Industrial Development and Regulation Act, 1951.
- An affidavit on Rs. 10/-Non-Judicial Stamp Paper duly attested by the Notary Officer declaring the Power Requirement and the Status of the Machinery Installed etc.
- Purchase Bill of the Machinery Installed.
- Bills relating to Purchasing and Installation of plant and machinery.
- Bank Account Statement.
How to check Udyam Registration Status?
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- Step 1: Visit:- https://udyamregistration.gov.in/PrintUdyamCertificate.aspx
- Step 2: Enter the Udyam Registration Number and registered phone number.
- Step 3: Chose the apt ‘OTP’ option.
- Step 4: Finally, tap on the Validate and Generate OTP.
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Registration Process of Limited Liability Partnership
The Ministry of Corporate Affairs vides its notification dated 18th February 2020 effective from 23rd February 2020 has further amended the Companies (Incorporation) Rules, 2014 thereby substituting the old Form INC-32 (SPICe) with web service SPICe+ along with certain other amendments.
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Name Application Through Run On MCA Portal
The first step is to make an application for reservation of name which shall be reserved by using the web services (RUN LLP) available at www.mca.gov.in along with the specified fees. Two proposed LLP names (along with their justification) are applied online via RUN LLP form on the MCA portal.
Before applying for a name, kindly check that the name is available on MCA as well as no trademark if there is no such name under the Class of work you are going to apply for Click on the below-given link to check: Trademark Registration. Once the name is allotted by the Ministry, it is reserved for a period of 20 days from date of approval.
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Before initiating the process of registration, you must apply for class 2 digital signatures of the designated partners of the proposed LLP. This is due to the fact that all LLP documents are submitted online and must be digitally signed.
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Form FiLLiP is the application form for the incorporation of the LLP. FiLLiP is an integrated form that offers a number of services, namely allotment of DIN, Reservation of Name and Incorporation of LLPs.The application for incorporation of LLP shall be accompanied with documents like subscriber’s sheet, directors KYC, consent form and registered office address proof. The e-form has to be digitally signed by one of the partner of LLP through their DSC and certified by the practicing professional (CA/CS/CWA).
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Once the E-Form FiLLiP is approved by the Ministry, the Certificate of Incorporation is provided via E-mail.
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The last step is to file a limited liability partnership agreement, The agreement governs the mutual rights & obligations between the partners and between the LLP & its partners. The LLP must be submitted within 30 days of the inclusion of Form 3 and must be printed on stamp paper and should be duly notarized. The rate of stamp duty depends on the state and the capital contribution of the LLP.
LLP Partnerships is a new and convenient concept that does not require any minimum capital. Besides, the registration cost is reasonable.
If you wish to commence your business with Limited Liability Partnership, then it is very important to get it registered under Limited liability Partnership Act, 2008.
One must get its business registered as a Limited Liability Partnership using the legal registration services from professionals who can take on the responsibility for your taxes and commercial compliances.
