The micro, small, and medium enterprises in India are growing just like the population. The total number of MSMEs were around 63 million in the country in 2020. MSMEs are potential for the country in terms of economy and employment generation. The saying that small things hold a large impact is true in MSMEs; with the more infrastructural input, simplified registration, and rewarding benefits from the Government, MSMEs have well-recognized growth in the forthcoming years.
Many companies came forward to help MSMEs in India. Indian Government launched an ecommerce portal for MSMEs to help them bring remarkable experience in online shopping spec. Ecommerce is a great platform for MSMEs, with many customers turning towards online shopping. This article is helpful for the MSMEs who wish to step into the ecommerce industry, here we have covered the MSMEs registration process for the e-commerce business in India.
Until recently, the classification of MSME was made depending on the investment put in the business. This classification has made the Government ensure the expenses for physically verifying the actual expenses and chart up the expenses.
With the new Government bill, the classification will be based on the annual turnover instead of investment. This process has made both the Government and business identify a business as MSME. The finance minister has recently clarified that startups are eligible to avail of the relief measures announced for MSMEs under ABA.
MSME registration is the process of registering your business with the Ministry of Micro, Small, and Medium Business Enterprises website. Once you complete the registration, you will receive the official proof of registration.
The Government of India launched MSMED Act to support MSMEs with schemes, subsidies, and incentives.
Aadhar Card and Pan Card are the documents required for the MSME Registration. The Udyam Registration Portal is completely integrated with the Income Tax and GSTIN systems so that your Income Tax and GST details linked to enterprise investment and Turover will be taken automatically.
Suppose you have UAM or EM-II registration or any other registration issued by the authority under the Ministry of MSME. In that case, you will have to re-register themselves in the Udyam Registration Portal.
Here is the step-by-step MSME registration process for ecommerce. The registration process is completely digital and free of cost.
1. Visit Udyam Portal and click on the Udyam registration form.
2. Enter the required details.
3. MSME executive will review your application, and you will be notified of the changes
4. On the successful completion of the Registration Process, you will receive the Registration Certificate by mail. The certificate will contain the Dynamic QR code from which the details of the enterprise can be accessed.
Once you hold the MSME registration, banks will offer the loans at the low-interest rates as they contribute more to the company’s economic growth. MSME registration holds a prominent position if you want to do your business in a convenient and secure way. Get the MSME certificate for your ecommerce business to avail of Government Subsidies and many other benefits.
Pavankumar Baboori is an experienced Sr. Content Analyst who improves the workflow by identifying and resolving the content development gap. He works closely with the marketing team to deploy strategies for improving brand awareness, website traffic, search engine ranking, and lead generation activities. He gauges up marketing channels for the real digital transformations.
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