Can Udyam Registration be Done for the Partnership Firms?
Yes, Udyam Registration can be done for partnership firms. Udyam Registration, formerly known as MSME registration, is open to a range of business entities, including partnership firms. The Ministry of Micro, Small, and Medium Enterprises (MSME) introduced Udyam Registration to provide various benefits and support to micro, small, and medium-sized enterprises. To register a partnership firm under Udyam , the following criteria must be met: Classification: The partnership firm should fall under the definition of a micro, small, or medium enterprise based on its investment in plant and machinery or equipment, as well as turnover. Micro Enterprise: Investment in plant and machinery or equipment should be up to Rs. 1 crore, and turnover should not exceed Rs. 5 crores. Small Enterprise: Investment in plant and machinery or equipment should be up to Rs. 10 crores, and turnover should not exceed Rs. 50 crores. Medium Enterprise: Investment in plant and machinery or equipment sho...