MSME Registration for Private Limited Company

  • Setindiabiz Team
  • June 6, 2024
MSME Registration for Private Limited Company

MSME Registration helps the government recognize smaller companies and target their growth through credit support, low-interest and credit guarantees on business loans, reduced administrative expenses on IPR registrations, and subsidies on utility bills.

BRIEF SUMMARY
The MSME Registration process for private limited companies is entirely online and can be completed on the Udyam Portal. The authorised applicant is generally one of the company’s directors appointed by its shareholders. Hardly any documents are required for submission. The application only requires details of the authorised applicant, the company, its net turnover, and net investment for classification purposes . Let’s go through the detailed steps for MSME Registration of companies further in this blog.

Eligibility Criteria for MSME Registration of a Company

MSME Registration is not restricted to any business structure per se. So, Private Limited Companies are eligible to apply for the MSME Registration Certificate. However, they must adhere to the threshold limits of net investment and net turnover. Net investment is the investment in plant, machinery, and equipment excluding the investment made in pollution control, repair, maintenance, and safety device installation. Net turnover, on the other hand, is the aggregate annual turnover of a company excluding its export turnover in a financial year. As per the the revised MSME Classification, the threshold limits of for MSME Registration are as follows:
MSME Classification Turnover Limits Investment Limits
Micro Enterprises
Up to Rs.5 crores
Up to Rs.1 crore
Small Enterprises
Up to Rs.50 crores
Up to Rs.5 crores
Medium Enterprises
Up to Rs.250 crores
Up to Rs. 10 crores

Documents Required for MSME Registration of a Company

Although the MSME Registration application does not require any supporting documents as attachments, the applicant must still keep a few documents handy for verifying the submitted information. Here’s the list of the basic documents required.
  1. Company’s PAN 
  2. Applicant’s Aadhaar, linked with the Registered Mobile Number
  3. GSTIN, if the company is a GST-registered taxpayer 
  4. Proof of Residence / Ownership at the Registered Business Premises 
  5. Blank Cheque to verify the bank account details, and 
  6. Incorporation Documents: Memorandum and Articles of Association, Incorporation Certificate

How to Apply for MSME Registration of a Private Limited Company? Detailed Process Guide

To apply for MSME Registration of a company, the first task is selecting the authorised applicant. Since a company is a multi-owner structure, choosing a single applicant for filing the application may be difficult. To resolve this issue, the shareholders authorise any one director or key managerial officer as the applicant, by passing a resolution in the general meeting to this effect. Once, the authorised applicant has been appointed, he can begin the process of company MSME Registration on the Udyam portal. Here’s the detailed procedure:
2. Select the option “MSME Registration for new Entrepreneur”.
MSME Registration
3. For registering on the website, submit the Adhar number and name of the authorised director. Aadhar Number will be used to generate an OTP on the Adhar-linked mobile number of the director. Submit this OTP to access the MSME Registration application further.
Adhar and name of the Proprietor
4. Select the Type of Organisation as “Private Limited Company”.
Select the Type of Organisation as “Private Limited Company”
5. Enter and Validate the Company’s PAN. PAN validation will automatically be done from the Income Tax database.
Proprietor’s PAN
6. Continue further by selecting the ITR filing status of the Company in the previous financial year. Also confirm the availability of GSTIN.
ITR filing status of the Proprietor
7. Enter the mobile number and email of the authorised director.
mobile number and email of the proprietor
8. Enter the Social Category of the authorised director and specify other details like gender and specially-abled status.
Social Category of the Proprietor
9. Next, enter the company’s name, as well as the name and address of its manufacturing plant. The option to add as many plants as the company operates is available.
enter the firm’s name
10. Enter other details like incorporation / registration status of the enterprise, status and date of business commencement, bank details, and the details of the business activity classified as per the NIC Code.
Enter the details of business commencement
11. Enter the number of male, female, and other category employees.
Enter the number of male employees
12. Self-declare the turnover and investment details.
Self-declare the 00 turnover and investment details
13. Confirm the last few details and then agree to the given declaration. Validate using OTP.
Confirm the last few details and then agree to the given declaration
14. Within a week, the MSME Certificate of the Private Limited Company will be issued by the MSME Department.

How to Download / Print the MSME Certificate of the Company?

The MSME Registration Certificate issued in the company’s name can be downloaded from the Udyam Portal itself. For this, the authorised person must follow these steps:
1. Go to the Udyam Portal and Click on the “Print” option. From the dropdown, click on “Print Udyam Certificate”.
Udyam Portal
2. Enter the Udyam Registration Number and the Mobile Number to generate OTP. Get OTP on the registered email or mobile number.
Enter the Udyam Registration Number
3. Finally, click on the “Print Certificate” option and download or print the MSME Certificate of the Company.
download or print the MSME Certificate

MSME Registration is an easy and simple way to categorise small companies and target their growth through favorable financial assistance schemes and benefits. The process is convenient, yet our experts are always available for free consultation. We also assist in the MSME Registration process and documents preparation, if needed.

Conclusion

FAQs

Q1: Can a Private Limited Company register as an MSME?

Yes, a private limited company can register as MSME if its turnover and investment limits in a financial year do not exceed Rs.250 crores and Rs.50 crores respectively.

Q2: Can I register my company as MSME offline?

No, MSME Registration for companies is an online process and is completed on the Udyam Registration Portal.

Q3: Is MSME Registration valid for a lifetime?

No. MSME Registration has to be updated and reclassified every year.

Q4: What is the cost of a company’s MSME Registration?

A company’s MSME registration is free of cost. No filing fee is applicable on MSME registration application.

Q5: How long does it take to get MSME registration for a Private Limited Company?

The MSME registration process can be completed online within a few hours, provided all required information is verified and filled out correctly. The MSME Certificate is issued within a week and can be downloaded from the Udyam portal.

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