WELCOME TO UDYAMI BIHAR, a premier provider of comprehensive regulatory compliance services designed to support businesses of all sizes, with a special focus on Micro, Small, and Medium Enterprises (MSMEs).
Our mission is to simplify the complex regulatory landscape, ensuring that our clients remain compliant with all applicable laws and regulations, thereby fostering smooth operations and sustainable growth.
Micro, Small, and Medium Enterprises (MSMEs) in India are subject to various regulatory compliances across different sectors and stages of their business lifecycle. Compliance with these regulations is crucial for MSMEs to operate smoothly, avoid legal issues, and avail of government benefits and incentives.
Here is a comprehensive overview of key regulatory compliances for MSMEs:
GST Registration: If the annual turnover exceeds the threshold limit ( 20 lakhs for service & ₹40 lakhs for goods ), GST registration is mandatory.
UDYAM REGISTRATION: MSMES NEED TO REGISTER ON THE UDYAM REGISTRATION PORTAL.
Shop and Establishment Act Registration: Applicable if the MSME operates a shop or commercial establishment.
Income Tax: Filing of annual income tax returns is mandatory. MSMEs need to comply with various provisions of the Income Tax Act, 1961.
TDS (Tax Deducted at Source): Compliance with TDS provisions is required if the MSME is making payments like salaries, contractor payments, rent, etc.
GST Compliance: Regular filing of GST returns is mandatory.
Provident Fund (PF): Mandatory if the MSME employs 20 or more employees.
Employees’ State Insurance (ESI): Applicable if the MSME employs 10 or more employees.
Minimum Wages Act: Ensuring payment of minimum wages to employees as per state-specific notifications.
