Q1. Can Udyam registration be Cancelled ?
NIC code is the classification of economic activities for various businesses involved in different business activities. These classifications will help the government to know the contribution of various businesses to the national income.
Q3. Can a Chartered Accountant register for MSME?
Yes, Chartered Accountants can register for MSME
Q4. What kind of business comes under MSME?
Small scale businesses such as Proprietorship, Partnership, Limited Liability Partnership, Hindu Undivided family business, Public Limited Company, Trust organizations, Self-help groups, etc. come under MSMEs.
Q5. Is PAN mandatory for Udyam registration?
Yes, PAN is mandatory for Udyam registration.
Q6. What are the benefits of MSME registration?
There are various benefits of MSME registration such as:-
Collateral free loans
Easy availability of tenders
Subsidy on Patent registration
Easy availability of loans for capital requirements
Deduction in taxes
Subsidy on Barcode registration
Q7. What are the documents required for MSME registration?
These are the documents that are required for MSME registration:
Aadhar Card
PAN Card
GST IN
Q8. What is the validity of an MSME certificate?
An MSME certificate is valid for a lifetime and once you have registered for MSME you can use it unless you don’t cancel the registration.
Q9. Is Udyog Aadhar and MSME Registration the same?
Udyog Aadhar and MSME registration are the registration for the Micro, Small, and Medium Enterprises. MSME registration was the old process of registration for the MSMEs which required EM-I & EM-II registration to get the benefits of government schemes.
Whereas, Udyog Aadhar was introduced to replace the EM-I & EM-II registration. Under Udyog Aadhar, you can register with your Aadhar Card & PAN card and no other additional forms are required to become eligible for the government schemes.
Q10. Do individuals match the msme registration eligibility?
Yes, any individual who has a business of his own, can register his business under MSME to get the benefits of MSME registration for the growth & development of his business
Q11. Can existing businesses apply for MSME Registration?
Yes, the existing businesses can also apply for MSME Registration
Q.12. Can new businesses apply for MSME Registration?
Yes, the new startup businesses can also apply for MSME Registration
Q.13. Can trading companies register under MSME?
Udyam certificate is valid for a lifetime. Once you have applied for Udyam registration with an Aadhar you can use it for a lifetime. However, if you want to rectify the mistakes in the Udyam registration, you can update your details from the official website of Udyam registration.
Q14. Are different registrations required for plants set up in different cities?
No, if an enterprise has more than one plant located in different cities, the other plants have to be listed under one Udyam registration. No entity can have more than one Udyam registration with the Same Aadhar card.
Q15. What is the UAM number in MSME?
UAM number also known as Udyog Aadhar Memorandum is the unique identification number that is given to the registered enterprises after the registration on Udyog Aadhar. It contains the unique identification number which can be used for applying for various government schemes.
LAST UPDATED ON : 29/03/2023
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