MSME is the backbone of the Indian economy as they contribute significantly to the development of the country. The growth of MSME and the country’s economy are interrelated and somewhat proportional to each other. This means – any surge in the growth of MSME would be reflected in the economic growth of the company
Since the Sole Proprietorship firm is not treated as a legal entity, it is not necessary to avail of governmental registration for the same. However, there are some documents that a person needs to procure at this disposal before establishing a Sole Proprietorship firm.
Udyam registrationCompanies under MSME registration have exposure to countless government schemes and tax benefits as compared to non-MSME-based firms. If you are someone who has a small business and looking for ways to reap more benefits or profit out of the business then MSME registration is something you must consider without an exception.
Udyam Registration for Proprietorship Firm
Aadhar card number
Aadhhar card of the proprietor
Aadhaar card of the managing director
Advantages Of MSME Registration
The applicant can avail hassle-free loans at a nominal rate of interest.
Companies under MSME registration are allowed to sign up for government-oriented tenders.
MSMEs are permitted to carry forward minimum alternate tax for the duration of fifteen years.
The setup cost for new companies reduce dramatically under the MSME scheme..
The provision for One Time Settlement Fee exists in the MSME scheme.
Government license is easily available for companies under MSME registration.
Companies under MSME registration have exposure to countless government scheme and tax benefits as compared to non-MSME based firms. If you are someone who has a small business and looking for ways to reap more benefits or profit out of the business then MSME registration is something you must consider without an exception.
Nearly all business entities in India are under the enormous pressure of maintaining harmony with the given compliance. These firms are highly vulnerable to hefty penalties as the margin of error for them is very low. In case if you are not willing to face legal constraints after establishing the business, make sure to adopt the Sole business model.
If you still have any any issues related to Udyam Registration, you can contact us through our inquiry form and follow us on:
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