Tide & eMSME Simplify GST, Udyam, and Scheme Access for MSMEs
India’s micro, small, and medium-sized enterprises (MSMEs) are the backbone of the country’s economy, accounting for approximately 45% of the country’s total industrial production. With over 6.5 crore MSMEs in India, they play a vital role in creating jobs, generating revenue, and driving economic growth. However, many MSMEs struggle with the complexity of GST registration, Udyam registration, and accessing government schemes, which can hinder their growth and development.
To address this challenge, Tide, a leading fintech platform, has partnered with eMSME, a digital platform that provides MSMEs with access to government schemes, to launch GST registration, Udyam registration, and Scheme Discovery Reports for Indian MSMEs. This partnership aims to simplify the process of GST registration, Udyam registration, and scheme access, enabling MSMEs to focus on their core business activities and improve their overall efficiency.
GST Registration Simplified
GST (Goods and Services Tax) is a value-added tax levied on the supply of goods and services in India. Under the GST regime, all businesses with an annual turnover of Rs. 40 lakhs (Rs. 20 lakhs for special category states) are required to register for GST. However, the registration process can be complex and time-consuming, especially for MSMEs that lack the necessary expertise and resources.
Tide and eMSME’s GST registration service simplifies the process, allowing MSMEs to register for GST with ease. The service provides step-by-step guidance on the registration process, ensuring that MSMEs comply with all the necessary requirements and regulations. The service also provides MSMEs with a GSTIN (Goods and Services Tax Identification Number), which is essential for filing GST returns and claiming input tax credits.
Udyam Registration Simplified
Udyam registration is a mandatory requirement for MSMEs in India. The Udyam registration process is used to classify MSMEs into three categories: micro, small, and medium-sized enterprises. The registration process is used to determine the eligibility of MSMEs for various government schemes and incentives.
Tide and eMSME’s Udyam registration service simplifies the process, allowing MSMEs to register for Udyam with ease. The service provides step-by-step guidance on the registration process, ensuring that MSMEs comply with all the necessary requirements and regulations. The service also provides MSMEs with a Udyam registration number, which is essential for claiming various government benefits and incentives.
Scheme Discovery Reports
Tide and eMSME’s Scheme Discovery Reports provide MSMEs with a comprehensive list of government schemes and incentives available to them. The reports are designed to help MSMEs identify the schemes that are most relevant to their business needs and requirements.
The Scheme Discovery Reports are generated based on the MSME’s industry, location, and other relevant factors. The reports provide MSMEs with detailed information on each scheme, including the eligibility criteria, benefits, and application process.
Benefits of the Partnership
The partnership between Tide and eMSME offers several benefits to MSMEs, including:
- Simplified GST registration and Udyam registration process
- Access to over 800 government schemes and incentives
- Step-by-step guidance on the registration process
- Expert advice and support
- Simplified scheme discovery and application process
The partnership also provides MSMEs with a single platform to access multiple government schemes and incentives, reducing the complexity and hassle associated with accessing multiple schemes separately.
Conclusion
Tide and eMSME’s partnership is a significant step towards simplifying GST registration, Udyam registration, and scheme access for Indian MSMEs. The services provided by the partnership aim to boost formalization, ease compliance, and connect businesses with over 800 government schemes. The new tools will help Tide’s 6.5 lakh users access credit, incentives, and growth opportunities, bridging the gap between businesses and government support.
MSMEs that register for GST and Udyam through the partnership will be able to access a range of benefits, including simplified registration process, access to government schemes and incentives, and expert advice and support. The partnership is a significant step towards promoting the growth and development of MSMEs in India and is expected to have a positive impact on the country’s economy.
Source:
https://startuptalky.com/news/tide-emsme-partnership-gst-udyam-registration/
