UDYAM/MSME
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What is UDYAM Registration?
A certificate issued to a micro/ small scale industry under the MSME Act, 2008is known as Udyam Registration.
Earlier, it was known as MSME registration in India. The main purpose of Udyam registration is to protect
medium and small scale industries from financially suffering at the hands of big enterprises,
.and to have smooth access to the benefits provided by the government.
Udyam registration enjoys some benefits like:
Who Is A Sole Proprietor?
A sole proprietor is an individual person who run a business in a distinguished name personally.
Sole proprietorship gives an individually all rights to have complete control over his business.
He would solely benefit from the business’s revenue and will be responsible for all the debts.
In case of sole proprietor there comes an unlimited liability which means he have to sett off all
his debt from his personal property.
Eligibility for Udyam Registration
The micro, small and medium enterprises that are eligible for Udyam registration according to their investment in plant and machinery are given below:
1 Micro enterprises – Up to Rs. 25 lakhs invested in plant and machinery
2 Small enterprises – Up to Rs. 5 crores invested in plant and machinery
3 Medium enterprises – Up to Rs. 10 crores invested in plant and machinery
Documentation Required: