MSME/Udyog Aadhaar Registration in India

What is MSME/Udyog Aadhaar Registration?

MSME means micro, small and medium enterprises. Registering your small organization is not a mandatory task. But if you get your MSME or Udyog Aadhaar registration done for your company then you’ll be eligible to avail lots of benefits in the form of taxation, business set up, credit facilities, loan facilities and many more.

How much you need to pay for MSME registration?

You can go for MSME registration of your company at completely free of cost.

Is Udyog Aadhaar registration compulsory?

No, it’s not necessary. But businesses that acquire Udyog Aadhaar registration becomes eligible to get multiple government benefits.

Do I need Aadhaar card for MSME registration? 

Aadhaar card is mandatory for you to get MSME certification for your business.

Udyog Aadhaar has simplified the process of MSME registration. Business owners now can easily go for Udyog Aadhaar registration online.

• How Udyog Aadhaar has simplified the process?
• One-page simple registration form is only required
• You don’t need to submit any supporting documents, it’s a self-declaration
• The framework provides revival and rehabilitation of MSME’s
• Multiple UAM’s can be filed
• Easy online process
• Registration for free of cost

Do you need any professional assistance for MSME registration process for your business? Contact FinacBooks now. The team of qualified accountants can help you to resolve all your registration related problems.

Guidelines for Choosing a Right Name for Your Business

Are you serious about suggesting a proper name for your business? You must understand the value of selecting the right name that can give your business a kick-start! A catchy, creative, and descriptive name can help your business to easily recognize and remember by the consumers. Carefully choosing the right business name can surely offer you tremendous value for your business. Choosing the right name for your company is considered one of the major steps in the company registration process.

Choosing a catchy name for your company needs a proper idea of business, a good understanding of the market, and thorough research on your competitors. Below are a few guidelines that you can follow while choosing a suitable name for your business:

Business idea – The name of your company should be chosen in such a way, that it reflects your business idea. It can help people to understand what business you do once they hear the name.

Unique and easy to distinguish – The name should look good and sounds unique. The name should be distinguished easily from others. Try to create your own identity. This can help you to improve your brand identity.

Choose something catchy and easy to remember – an attractive name can bring visitors’ attention towards your business. But at the same time, you shouldn’t forget to choose something that can easy to remember. A business name that is difficult to pronounce and remember can lose the value. So, you must choose it very carefully.

Do not use your own name – It’s not a good thought to add the owner’s name within the company name unless you’re an established brand in the market. As discussed earlier the name should reflect your business idea. So, using your name could be useless as it won’t carry any understanding of the type of business you’re doing.

Do some researches online – It is highly recommendable to go for online researches before you finalize your business name. There are numerous places on the internet where you can do some brainstorming.

Do you need any assistance in choosing the right name for your business? FinacBooks is a reputed portal of qualified chartered accountants. Our experts offer company registration service and the best suggestion for company name selection.

MSME Registration – Who Should Get Registration & What Documents are Required for Registration?

What is MSME Registration / Udyog Aadhaar?

MSME plays a very significant role in developing the socio-economic structure of the country like India. MSME stands for micro, small & medium enterprises. Although MSME registration is not mandatory but small and medium organizations can avail a bunch of benefits from Government in terms of business-related set-up, loans, taxation and more.

Who should get MSME Registration / Udyog Aadhaar?

All types of business entities can get themselves registered for Udyog aadhaar or MSME registration. Below is a list of businesses who can apply for MSME or Udyog Aadhaar registration for obtaining various advantages –

• Partnership firms
• Public limited companies
• Private limited companies
• Limited Liability partnerships
• OPC
• Co-operative societies
• Production companies

..and many other companies

What are the required documents for Udyog Aadhaar Registration?

Whatever the business entity you’ve, you can go for online MSME registration. Now there is no manual process involved in MSME registration process, everything is done through online.

Udyog aadhaar or MSME registration process requires below documents –

Aadhaar Number – You must enter your 12-digit Aadhaar card number issued by UIDAI

Owner’s Name – Enter your name as mentioned on your Aadhaar card

Name of the enterprise – You must enter the full name of your enterprise

Types of your business – You’re required to enter the business entity that you’re operating

Your PAN number – You must enter your PAN card number in the required field

Contact details of your business – You must add the postal address of your business, along with the contact number and email address of your organization

Date of commencement – It’s important for you to enter the date when you’ve started operating your business

Personal details – Your personal details like your address, mobile number and registered email ID should be entered

FinacBooks is a reputed portal of chartered accountants. Feel free to contact us for any assistance regarding MSME registration. We offer best services at competitive price.

How to Check GST Return Status of Any Taxpayer?

GST Registered business need to file GST return online using GST Network (GSTN) portal. A Taxpayers in India after GST return filing can now check the last filing status online of their suppliers on the GST Network (GSTN) portal. Company with GSTN, the GST Registered Company developing the new technology backbone for the new indirect tax regime. The new technology utility which will help GST return buyers to check the tax payment status of their suppliers and make claiming input tax credit (ITC) easier.

To check the GST return status a new functionality has been introduced on the GST online portal that shows the status of last 10 returns filed by a taxpayer in the pre-login search taxpayer menu,” GSTN said in a statement.

GST return

Steps to check the GST return Status

• Visit the online GST portal
• Insert/Type GST Identification Number (GSTIN) in the system.
• You will get the taxpayer details like legal name, status (active or cancelled), and jurisdiction office.
• Now show the status of last 10 returns showing return type, financial year, tax period, date of filing and status whether GST filed or not filed.

Government are constantly trying to make the GST return filing processes easier on GST online portal, and making it more user-friendly for the taxpayers.

How to File GST Return Online?

GST Return Filing can be done Online After logging in on the GST portal, upload all the sale and purchase invoices, following which an invoice reference number will be issued against each invoice. After that, inward return, outward return, and collectively monthly return have to be filed online on the GST Portal.

Indian Government had launched the GST (Goods and Services Tax) on July 1, 2017. To make GST return filing easy for the Citizen of India, the authorities have opened online channels for GST Return filing.

It is mandatory for GST registered business to file GST returns. The delay in filing and non-compliance will lead to penalties and affect one’s business compliance rating and timely refunds.

Here is how you can file your GST returns online:

• GST returns can be filed online by visiting the GST portal– https://www.gst.gov.in/
• GST compliant sales invoices and purchase invoices are required to file returns.
• After the company GST Registration, a 15-digit GST identification number is issued based on the state code and PAN number.
• Once you logging into the GST portal than you need to upload the sales and purchase invoices with a reference number issued against each invoice.
• After uploading the invoice the outward return, inward return, and cumulative monthly return have to be filed online.
• The GST portal provides you an option to correct and refile the returns in case of errors.
• The recipient has to verify, validate, and modify the details of GST invoices
• The details of inward and outward supplies can be uploaded on the GST portal on or before the due date.

For any query related to Online GST return filling contact to our expert at FinacBooks. Give us a call at: +91 8800221252.