MSME registration or Udyog Aadhaar can be obtained by any type of business entity. Proprietorships, Hindu Undivided Family, Partnership Firm, One Person Company, Limited Liability Partnership, Private Limited Company, Limited Company, Producer Company, any association of persons, co-operative societies or any other undertaking can obtain MSME registration in India. Small businesses having MSME registration enjoy various benefits under the Micro, Small and Medium Enterprises Development Act, 2006. Hence, it is recommended that all small businesses obtain MSME registration or Udyog Aadhaar after starting up. Here in this article, we will understand the eligibility of MSME registration.
Eligibility criteria for MSME Registration
MSME is divided into three different parts, the name itself derives its differentiation.
- Micro Enterprise
Any business entity who invests below 25 lakhs comes under Micro Enterprise.
- Small Enterprise
Any business entity which invests above 25 lakhs and below 5 crores
- Medium Enterprise
Any business entity which invests between 5 crores to 10 crores.
In the case of entities engaged in providing or rendering of services:
Any entity wherein the investment in equipment does not exceed rupees ten lakhs.
- Small enterprise
Any entity wherein the investment in equipment does not exceed rupees two crores but also more than rupees ten lakhs.
- Medium enterprise
Any entity wherein the investment in equipment does not exceed rupees five crores but also more than rupees two crores.
MSME is beneficiary source for our nation, MSME registration is necessary for every small and medium business in India. By MSME registration you can avail various government benefits and government schemes.
It is possible to register MSME by visiting Online MSME registration portal in India.
Along with that, you can manage your accounts and banking related in queries with the help of EZOTO Software – By Downloading this accounting Software you would be able to manage invoice, accounting, credit, inventory, customers, etc and fulfill all your accounting needs