MSMEs or Micro, Small, and Medium Enterprises contribute primarily to the socio-economic development of the country. MSMEs are governed by the Ministry of Micro, Small & Medium Enterprises in India and are also required to be registered under the Micro, Small and Medium Enterprises Development Act to avail benefits. Registration of MSME is very important, as it allows these enterprises to avail benefits from the various schemes initiated by the government.
What are Micro, Small and Medium Enterprise?

Classification Micro Small Medium
Manufacturing & Service
Investment in Plant & Machinery Equipment < Rs. 1 Cr
Annual Turnover < Rs. 5 Cr
Investment in Plant & Machinery Equipment < Rs. 10 Cr
Annual Turnover < Rs. 50 Cr
Investment in Plant & Machinery Equipment < Rs. 50 Cr
Annual Turnover < Rs. 250 Cr

Registration Process
(1) The form for registration shall be as provided in the Udyam Registration portal.
(2) There will be no fee for filing Udyam Registration.
(3) Aadhaar number shall be required for Udyam Registration.
(4) The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm and of a karta in the case of a Hindu Undivided Family (HUF).
(5) In case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organization or its authorised signatory shall provide its GSTIN and PAN along with its Aadhaar number.
(6) In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on self-declaration basis.
(7) No enterprise shall file more than one Udyam Registration: Provided that any number of activities including manufacturing or service or both may be specified or added in one Udyam Registration.
(8) Whoever intentionally misrepresents or attempts to suppress the self-declared facts and figures appearing in the Udyam Registration or updation process shall be liable to such penalty as specified under section 27 of the Act
 Registration of Existing Enterprises
(1) All existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st day of July, 2020.
(2) All enterprises registered till 30th June, 2020, shall be re-classified in accordance with this notification.
(3) The existing enterprises registered prior to 30th June, 2020, shall continue to be valid only for a period up to the 31st day of March, 2021.
(4) An enterprise registered with any other organisation under the Ministry of Micro, Small and Medium Enterprises shall register itself under Udyam Registration.