The Union MSME Ministry established the MSME Udyam Registration Portal on July 1, 2020. The site has shown to be valuable in terms of features and flexibility. Over 11 lakh MSMEs have completed the self-declaration registration process and are currently registered on the platform. The Finance Minister developed this registration procedure as a component of the Prime Minister’s aid package following the Covid 19 pandemic. There are many options for business owners as a result of the new company’s formation. However, starting a company journey without any barriers is really a pipe dream. To find out what requirements apply to his firm, one must go further. There are many licenses that are applicable to one’s business, while other registrations are optional yet have a big impact on the expansion of the business. The MSME Registration is one. The MSME Certificate Portal excels at the paperless concept and provides business owners with a wide range of practical services. We shall discuss how to obtain MSME Certificate online in this article.

What is MSME?

Micro, Small, and Medium Enterprises, or MSME, is the abbreviation for this phrase. The investment cap was the only factor used in the prior MSME classification, which has limited potential. The government has had to alter the law due to its lack of adaptability and scalability for the benefit of business owners. Now that the new classification takes into consideration both investment and annual turnover, business owners will have better prospects for growth. The Ministry of Small-Scale Industries published the following updated standards for MSME classification as of June 1, 2020.

Online MSME Certificate step-by-step process

The following methods can be used by new business owners looking to apply for an MSME Certificate online.

Step 1: Visit the Udyam Registration website at the official website in order to begin.

Step 2:  Enter the Aadhaar Number dialogue box with your 12-digit Aadhaar number.

Step 3: Provide the “Name of Entrepreneur” according to the Aadhaar Card.

Step 4: Accept the declaration next.

Step 5: Tap the “Validate & Generate OTP” button after that.

Step 6: Your registered contact number will now get the OTP generated by the portal for verification.

Step 7: Now enter that OTP into the appropriate form, and then click the Validate button.

Step 8:

• After verification, proceed to give the information listed below;
• Type of business structure to enter
• Put the PAN Number online.
• Tap the “Validate” button after accepting the declaration form.
• As needed, provide ITR and GSTIN information.

Step 10: You can enter your name under the “Name of the Entrepreneur” option in the PAN card’s truancy section.

Step 11: Enter the phone number and email address in the appropriate fields.

Step 12: Provide information regarding gender, socioeconomic category, and business name.

Step 13: At this point, give the actual address of the location where production is taking place.

Step 14: Type in the registered address of the business.

Step 15:  Next, provide the previous EM-II/UAM registration number as well as;

• A company’s status,
• Core business operations,
• Business Activities National Industrial Classification (NIC) Code
• Information about the staff.

Step 16: Fill in the information requested on the screen, including the cost of establishing the plant and machinery.

Step 17: After agreeing to the declaration form, click the Submit tab to obtain the OTP.

Step 18: Complete the registration process by rendering the OTP.

How to check the MSME Certificate’s status online?

To check the status of MSME Certificate, following steps could be followed down:

Step 1: Visit the official website.

Step 2: Enter the registered contact number and Udyam Registration Number, or UAM.

Step 3: Select the appropriate “OTP” option.

Step 4: Click Validate & Generate OTP to complete the process.

The Udyam registration platform has a tonne of useful features for business owners and entrepreneurs. Additionally, users would be able to utilize the UAM number to check the status of the application. The site allowed you to do every task, from registration to change, with just a few clicks.

Advantages of MSME Certificate 

The following are the few advantages of an MSME Certificate;

• The interest rate on bank loans is significantly lower for registered MSMEs. MSMEs can obtain credit with liberal EMIs for as little as 1%.
• MSMEs that have registered are eligible for tax exemption.
• For MSMEs (registered ones), the minimum MAT or other tax might be extended to 15 years. The standardized MAT is ten years, meanwhile.
• Priority is given to MSMEs registered with the Ministry of MSMEs when applying for licenses and certificates granted by the Indian government.
• A registered MSME has access to numerous discounts, as well as reductions on the price of obtaining patents and starting an industry.
• MSMEs are given preference in government tenders on the Udyam Portal since it is connected to government-based e-tendering platforms.
• MSMEs are eligible for a One-Time Settlement Fee for the delayed or unpaid amount.

How to Download Online MSME Certificate

The following are the steps on how to download MSME Certificate;

Step 1: Go to the official website.

Step 2: Click or tap the Print button on the Home Page.

Step 3: Type in the authentic UAM number.

Step 4: Enter the registered phone number that is listed on your Udyog Aadhaar^[1].

Step 5: Press the Submit button next.

Step 6: The site will now send you a text message to the registered phone number.

Step 7: Enter the OTP into the appropriate field.

Step 8: Download the Udyog Aadhaar certification.

Conclusion 

The Government of India’s Ministry of MSMEs acknowledges the contribution of MSMEs to the GDP of the country. And in order to achieve that, it offers a lot of subsidies and perks to promote growth. It is necessary to register as an MSME in order to access these benefits and create an efficient route of authorization. There are many helpful resources for business owners on the MSME Certificate registration portal website. From registration to updating, it only takes a few clicks to do everything. You can also use the portal and your UAM number to check the status of your application. Consult an expert before applying for MSME Certificate. Contact a professional at Bizadvisors.io.

Read our article:MSME Registration for Partnership Firm: A Complete Overview