MSME Registration in Silk Board Consultant provides the best services in the entire Bangalore with customer support, Consultry serves various registration in Silk-Board, The Micro, Small and Medium Enterprises sector plays an essential role in the expansion of the Indian economy. It makes a significant contribution towards India’s GDP, employment and exports. Further, this sector acts as a backbone of Indian entrepreneurship. Currently, Micro, Small, and Medium Enterprises contribute close to 6.11% of the construction GDP and 24.63% of the GDP from service activities. In addition to this, 33.4% of India’s manufacturing output comes from the Micro, Small and Medium Enterprises sector, providing employment to around 120 million people and contributing around 45% of the overall exports from India. Since 20% of the Micro, Small, and Medium Enterprises s handle out of rural areas, it provides employment to a large chunk of the rural workforce. Thus, Micro, Small and Medium Enterprises s sector plays an important role in boosting continuous and inclusive improvement thereby lessen regional inconsistency and make sure equitable distribution of national income and wealth Thus, in order to provide Profit such as trouble-free access to finance and promoting ease of doing business, Udyog Aadhaar was introduced by the Ministry of Micro, Small and Medium Enterprises. Given this backdrop, let’s understand is Udyog Aadhaar, its Profit and process of registration.
What is Udyog Aadhaar?
Prior to the execution of the Ministry of Micro, Small and Medium Enterprises Development Act 2006, Ministry of Micro, Small and Medium Enterprises sector was defined as the Small-Scale Industries sector. The constituent small and additional units of the Small-Scale Industries sector were defined based on the periodic criteria for defining such units with the coming of the Ministry of Micro, Small and Medium Enterprises Development Act, 2006, the scope of Ministry of Micro, Small and Medium Enterprises sector was extended. In place of simply industries as under the Small Scale Industries sector, the concept of ‘enterprise’ was introduced to include both produce and service sectors.
Following the execution of the Ministry of Micro, Small and Medium Development Act, 2006, the registration process for the Ministry of Micro, Small and medium involved filing of two forms. These included Entrepreneurs Memorandum I (EM I) and Entrepreneurs Memorandum II (EM II). Where EM I was for the proposed or upcoming enterprises and discretionary in nature, EM II was required to be filed by the existing enterprises. Further, EM II was necessary to be filed with the District manufacturing Centre (DIC) in the concerned state or union territory instantly after the project kicks off. In order to promote ease of doing business and simplify the process of Ministry of Micro, Small and Medium registration further, the Ministry of Micro, Small, and Medium introduced the Udyog Aadhaar registration.
Udyog Aadhaar Registration is primarily a single page online registration of the Ministry of Micro, Small, and Medium. Under Udyog Aadhaar, the Ministry of Micro, Small, and Medium can register via self announcement in Udyog Aadhaar Memorandum (UAM), with no additional documents to be submitted for the same. Further, the Ministry of Micro, Small, and Medium are not required to pay any fees and can file more than one Udyog Aadhaar with the same Aadhaar number. Classification of Micro, Small and Medium Enterprises as per Ministry of Micro, Small and Medium Act, 2006 According to the Ministry of Micro, Small and Medium Act 2006, Micro, Small and Medium Enterprises are classified into following two categories: Manufacturing Enterprises: These are the enterprises that are either: involved in the construction. or production of goods concerning the manufacturing specified in Industries (Development and Regulation) Act 1951 using plant and machinery for adding value to the final goods having a different use, character, and name. Further, a manufacturing unit is defined in terms of the amount invested in plant and machinery by such a unit.
How to apply for MSME Registration in Silk Board?
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