Udyam Registration

 

Udyam Registration

 

The Government of India, Ministry of Micro, Small and Medium Enterprises notified in the official Gazette of India on 26^th Jun 2020, if any person wants to establish an micro, small and medium enterprises may file for Udyam Registration online in the Udyam Registration Portal, bases on self-declared with no requirements to upload documents, papers, certificate of proofs.

 

On Registration, an enterprises (referred to as “Udyam” in the Udyam registration portal) will be assigned a permanent identity number to be known as “Udyam Registration Number”.

 

An e-certificate namely, “Udyam Registration Certificate” shall be issued on completion of registration process.

 

Salient features

 

·      Udyam registration form can be available on Udyam registration portal. It can be registered through the portal i.e. https://udyamregistration.gov.in/Government-India/MinistryMSME-registration.htm

 

·      There will be no fee for filing of Udyam registration

 

·      Aadhar Number is mandatory for Udyam registration

 

·      Udyam registration process is fully digitalised or paperless

 

·      After completion of registration process, an e-certificate will be issued namely, “Udyam Registration Certificate”

 

·      The certificate has the dynamic QR code from which the web page on our portal and details about the enterprise can be assessed.

 

·      Whoever intentionally misrepresent or attempts to supress the self-declared facts shall be liable to such penalty as specified under Section-27 of the Act.

 

·      The online system is fully integrated with Income Tax and Goods & Service Tax system, detail on investment and turnover of enterprises are taken automatically from Government data base. Exports are not taken as part of turnover calculation.

 

·      No enterprises shall be file more than one Udyam registration.

 

·      Those who have EM-II or UAM registration or any other registration issued by any authority under the ministry of MSME, will have to be re-register themselves before 31.03.2021.

 

Requirement for Registration

 

·      Only Aadhar number is enough for registration

 

·      Having PAN and GST number is mandatory from 01.04.2021

 

Benefits of the Registration

 

·      It will be a permanent registration and basic identification number for an enterprise.

 

·      MSME Registration is paperless and based on self

 

·      There will be no need for renewal of Registration.

 

·      Any number of activities including manufacturing or service or both may be specified or added in one Registration. Along with the Udyam Registration, Enterprises may register themselves on GeM (Government e-Portal (a portal to address issues relating to delay in payments) and simultaneously MSMEs themselves can also onboard on TReDS Platform,(the invoices of receivables are traded on this platform) through three available platforms i.e.

1.   www.invoicemart.com

2.   www.m1xchange.com

3.   www.rxil.in

 

·      The Udyam Registration may also help MSMEs in availing the benefits of Schemes of Ministry of MSMEs such as Credit Guarantee Scheme, Public Procurement Policy, additional edge in Government Tenders & Protection against delayed payment etc.

 

·      Becomes eligible for priority sector lending from Banks

 

Important to Know

 

An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely: --

 

(i)                    a micro enterprise, where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;

 

(ii)                  a small enterprise, where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and

 

a medium enterprise, where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.