Logistics terms · Logistics terms
What does MSME / Udyam registration mean in logistics?
Short answer
Registration of a micro, small or medium enterprise on the government Udyam portal, which issues a permanent Udyam Registration Number.
Registered micro and small suppliers, including transporters, benefit from the MSMED Act, 2006 rule that buyers must pay within the agreed period, not exceeding 45 days, and Section 43B(h) of the Income Tax Act affects when buyers can deduct late payments. It also brings preferences in public procurement. Ask our desk how this applies to your consignment.
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The numbers behind this answer
- Also called
- Udyam, MSME, Udyam Registration Certificate
- Category
- Contracts & pricing
- Related terms
- Credit period, Government e-Marketplace (GeM), Earnest money deposit (EMD), Freight bill
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