MSME REGISTRATION via NEW UDYAM REGISTRATION PORTAL

MSME REGISTRATION via NEW UDYAM REGISTRATION PORTAL

The new online MSME/Udyam Registration system launched by the Union MSME Ministry on July 1, 2020, has been a huge success, with over 11 lakh MSMEs successfully registering.

 

It should be mentioned that the Ministry of MSME has altered the definition of MSMEs and the registration process as of July 1, 2020. It also built a new MSME/Udyam registration portal. This is the first gateway of its sort to be fully integrated with the CBDT, GST, and GeM networks. It is important to note that MSME registration is now totally paperless as a result of this integration.

 

MSME definition: To define an enterprise as a micro, small, or medium enterprise, the following requirements must be met:

 

  • A micro-enterprise is defined as a business with a capital investment of less than one crore rupees in plant, machinery, or equipment and a turnover of less than five crore rupees.

 

  • a small firm having a capital investment of less than one crore rupees in plant and machinery or equipment and a turnover of less than five crore rupees.

 

  • a medium-sized business having a turnover of less than 250 crore rupees and a capital investment in plant, machinery, or equipment of less than fifty crore rupees.

 

Udyam Registration is described briefly as follows:

 

  • An entity will be referred to as Udyam for the purposes of this procedure, and the registration process will be referred to as ‘Udyam Registration.’ You will be assigned a permanent registration number after completing the registration process.

 

  • When the registration process is completed, a certificate will be emailed to you.

 

  • This certificate will include a dynamic QR code that will allow you to access our Portal’s web page as well as company information.

 

  • Your registration will not need to be renewed.

 

  • This procedure will be aided by our single-window technologies in Champions Control Rooms and DICs.

 

  • The method for registering is absolutely free of charge. There are no expenses or fees to pay to anyone.

 

  • MSME registration is completely free, requires no paperwork, and is self-declaratory. The MSME registration process is completely paperless, online, and self-declaratory.

 

  • When registering an MSME, no paperwork or documentation is necessary.

 

  • Only your Aadhaar number is required for registration.

 

  • Government databases will be queried on a regular basis for information on business investment and turnover, as well as PAN and GST-related data.

 

  • The Income Tax and GSTIN systems will be fully integrated with our online system..

 

  • From April 1, 2021, a PAN and a GST number will be required.

 

  • Re-registration is required for those with an EM-II or UAM registration, as well as any other registration issued by a Ministry of MSME authority.

 

  • Only one Udyam Registration is allowed per company. On the other hand, a single Registration can define or add any number of activities, such as production, service, or both.

Procedure for registering for Udyam:

 

  • Udyam registration will require an Aadhaar number.

 

  • The owner’s Aadhaar number is the owner’s Aadhaar number, the controlling partner’s Aadhaar number is the controlling partner’s Aadhaar number, and the Hindu Undivided Families karta is the karta’s Aadhaar number is the karta’s Aadhaar number is the karta’s Aadhaar number is the karta’s Aa (HUF).

 

  • You must input your GSTIN, PAN, and Aadhaar number if you are a Company, a Limited Liability Partnership, a Cooperative Society, a Society, or a Trust.

 

  • If the entity is legitimately registered as an Udyam with a PAN, any information gaps from previous years when the entity did not have a PAN must be filled out on a self-declaration basis.

 

  • Any number of operations, whether production, service, or both, can be included or excluded from a single Udyam Registration, but no company can submit more than one.

 

  • Anyone who deliberately misrepresents or seeks to conceal self-declared facts and figures during the Udyam Registration or updation procedure will face the penalties outlined in section 27 of the Act.

The following are some of the benefits of signing up for Udyam:

 

The holder of an Udyam registration certificate can likewise benefit from the same benefits.

 

  • Request a stamp duty and registration fee relief.

 

  • Overdrafts are not subject to a 1% interest charge.

 

  • NSIC and credit ratings subsidies are available, as well as an IPS subsidy.

 

  • The cost of obtaining the ISO certificate will be refunded.

 

  • Items have been allocated for exclusive manufacturing by MSME and SSI.

 

  • Use the Excise Exemption Scheme to your advantage.

 

  • Get a break when applying for government contracts.

 

  • Payment of direct taxes is not required.

 

  • Bank mortgages and company loans are both readily available.

 

  • Patent registration is eligible for a subsidy.

 

  • Eligibility for a Subsidy for Industrial Promotion (IPS)

 

  • International trade exhibitions are given special attention.

 

  • Electricity bill savings