Udyam Registration

udyam-registration-certificate-msme

Udyam Registration

  • Udyam Registration
  • LEDGERS Accounting Software

Market Price – Rs: 5,899 

OnlineTaxSeva Price- Rs: 2,599 (All Inslusive)

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Documents required For Udyam Registration

PAN Card
Aadhar Card

Udyam Registration

In order to make the process for business owners to register their company under Micro Small Medium Enterprise as simple as possible, Udyam Registration was established (MSME).
Prior to this, the process included a lot of paperwork and was quite a busy, drawn-out bureaucratic process.

But, after the outdated system was replaced, things have changed.

So, if you are the owner of a medium, small, or micro-enterprise and have not yet registered your MSME under Udyam registration, you should do so right away to take advantage of a wide range of advantages.

What Is Udyam Registration?

Udyam Registration is a government initiative launched by the Ministry of Micro, Small and Medium Enterprises (MSME) in India to register and provide recognition to micro, small, and medium enterprises (MSMEs). The registration process is simple, online, and free of cost.

The Udyam Registration portal was launched on July 1, 2020, to replace the earlier registration process of Udyog Aadhaar Memorandum (UAM). The registration process is based on self-declaration and does not require any documents or proof of information at the time of registration. However, the information provided by the enterprise should be accurate and based on self-assessment.

The benefits of Udyam Registration include access to various government schemes, subsidies, and support systems such as credit, technology, and marketing assistance. It also facilitates ease of doing business and helps in enhancing the visibility and credibility of MSMEs.

To register under Udyam, an enterprise needs to have a valid PAN and Aadhaar card. The registration can be done online on the Udyam Registration portal using the enterprise’s PAN and Aadhaar details. After successful registration, the enterprise is provided with a unique identification number called the Udyam Registration Number.

The Udyam Registration process is available for MSMEs engaged in the manufacture or production of goods, or the provision of services. The classification of MSMEs is based on their investment in plant and machinery or equipment and annual turnover.

Udyam Registration Benefits

Udyam Registration is a government initiative launched by the Ministry of Micro, Small and Medium Enterprises (MSME) in India to register and provide recognition to micro, small, and medium enterprises. The benefits of Udyam Registration are:

  1. Access to Government Schemes: Udyam registration provides access to various government schemes, subsidies, and support systems such as credit, technology, and marketing assistance.

  2. Easy Availability of Credit: MSMEs registered under Udyam can avail of various credit schemes offered by the government and financial institutions at a lower interest rate.

  3. Tax Rebates: Udyam registered entities are eligible for various tax rebates, exemptions, and deductions.

  4. Protection against Delayed Payments: Udyam registered entities can file complaints against delayed payments by the buyer, and the buyer is liable to pay interest on the amount due.

  5. Priority in Government Tenders: Udyam registered entities get priority in government tenders.

  6. Ease of Doing Business: Udyam Registration helps in enhancing the visibility and credibility of MSMEs, which leads to ease of doing business.

  7. Subsidized Patent and Trademark Filing: Udyam registered entities can avail of the subsidy provided by the government for filing patents and trademarks.

  8. Concession in Electricity Bills: Udyam registered entities can avail of the concession provided by the government on electricity bills.

  9. Facilitation of Technology Upgradation: Udyam registered entities can avail of the government scheme for technology upgradation of their business.

  10. Protection against Delayed Payments: Udyam registered entities can file complaints against delayed payments by the buyer, and the buyer is liable to pay interest on the amount due.

Who can and when to apply for Udyam registration?

Udyam registration can be applied by micro, small, and medium enterprises (MSMEs) engaged in manufacturing or production of goods or providing services. The classification of MSMEs is based on their investment in plant and machinery or equipment and annual turnover. The criteria for classification under the MSME category are as follows:

  1. Micro Enterprises: Investment in plant and machinery or equipment should be up to Rs. 1 crore and turnover should be up to Rs. 5 crore.

  2. Small Enterprises: Investment in plant and machinery or equipment should be up to Rs. 10 crore and turnover should be up to Rs. 50 crore.

  3. Medium Enterprises: Investment in plant and machinery or equipment should be up to Rs. 50 crore and turnover should be up to Rs. 250 crore.

The Udyam registration process is online, simple, and free of cost. An enterprise can apply for Udyam registration at any time as it is an ongoing process. However, it is recommended to register at the earliest to avail of the benefits and schemes offered by the government for MSMEs.

To apply for Udyam registration, an enterprise needs to have a valid PAN and Aadhaar card. The registration can be done online on the Udyam Registration portal using the enterprise’s PAN and Aadhaar details. After successful registration, the enterprise is provided with a unique identification number called the Udyam Registration Number.

Documents Required for Udyam Registration Online

Udyam Registration is a simple and hassle-free process, and it does not require any documents or proof of information at the time of registration. However, the information provided by the enterprise should be accurate and based on self-assessment. The enterprise needs to provide the following details during the registration process:

  1. PAN Card details of the enterprise
  2. Aadhaar Card details of the enterprise owner or authorized signatory
  3. Name and type of the enterprise
  4. Address of the enterprise
  5. Date of commencement of the enterprise
  6. Bank account details of the enterprise
  7. Main activity of the enterprise
  8. NIC Code of the enterprise’s business activities

While no documents are required during the registration process, it is advised to keep the following documents ready in case they are required for verification:

  1. Business registration documents such as GST registration, Incorporation Certificate, etc.
  2. Bank statements and financial statements
  3. Identity and address proof of the enterprise owner or authorized signatory

It is important to note that the Udyam registration process is based on self-declaration, and any false information provided by the enterprise may result in the cancellation of the registration and legal consequences. Therefore, it is advisable to provide accurate and authentic information during the registration process.

Udyam registration of New Enterprise 

1.The new enterprise is willing to establish itself as an MSME and needs to apply for online Udyam Registration in Udyam Registration Portal.

PAN and GST-related information on an enterprise’s investment and revenue will be automatically retrieved from government databases.
The GSTIN and Income Tax systems are completely connected with the MSME online system.
Upon the successful submission of the application, the business will receive a “Udyam Registration Number” (i.e., permanent identity number).
The enterprise will be given a “Udyam Registration Certificate” once the registration procedure is complete.

 

Udyam registration FAQ’s

1. Who is eligible for Udyog Aadhar?

The eligibility criteria are as follows:

  1. The business should be a micro, small or medium enterprise, as per the MSME Act, 2006.
  2. The business should have a valid PAN (Permanent Account Number) and GST (Goods and Services Tax) registration.
  3. The business should not exceed the prescribed investment limit, which varies for different categories of enterprises.                                                                                                 2. What are the fees for Udyog Aadhar?
    There is no cost to register an MSMEs through the Udyam Registration Portal, and the registration process is fully online. It’s free to use.  

What is Udyam Registration, exactly?
The government started Udyam registration on July 1, 2020, to streamline the registration process for Micro, Small, and Medium-Sized Businesses (MSME).

 Who is eligible to register for Udyam?
Anybody planning to start a micro, small, or medium-sized business may submit an online Udyam registration application.

 Are traders qualified to register with Udyam?
Prior to now, only manufacturing and service businesses were covered by MSME registration. Trading businesses are not covered by the programme. Nevertheless, the government said in July 2021 that the wholesale and retail sectors will fall under the MSME categorization and be eligible to register as a wholesale/retail enterprise.
 Can we register for two Udyams?
The business owner may apply for MSME registration if the enterprises are distinct, i.e., founded under different names and registered or incorporated separately. An organisation cannot submit applications for more than one Udyam Registration, nevertheless. All operations, whether manufacturing- or service-related, have to be included on or added to a single Udyam Registration. By selecting “Update Information,” a businessperson can add more steps to the Udyam Registration.

 Is an Aadhar card required in order to register for Udyam?
Yes. An Aadhar card is required in order to register for Udyam. The Aadhar cards of the partner and director are necessary if the applicant is someone other than the business owner.

 Are I able to get several Registrations using the same PAN?
No, you cannot register for more than one Udyam on the same PAN.

 What is Udyam Registration’s NIC code?
The government offers the NIC code as a business code to keep track of commercial transactions for organisations classified as micro, small, and medium companies. For Udyam registration, a maximum of 10 NIC codes may be added.

 How long does it take to register for Udyam?
The procedure is contingent upon the customer submitting the required paperwork.

 Are there any possibilities that Udyam would be rejected?
Based on the information submitted by the applicant, the application will be granted. To reduce the possibility of rejection, the paperwork and information must be current.

 Has Udyam Registration superseded MSME/Udyog Aadhar Registration?
Indeed, Udyam Registration has taken the position of MSME / Udyog Aadhaar registration. According to the Ministry of Micro, Small, and Medium Businesses’ announcement dated June 26, 2020, Udyam Registration is the new registration procedure that will be in place starting on July 1st.

 Is registration with MSME Udyam required?
No. Businesses that fall under the MSME category are not required to voluntarily submit an application for MSME registration. Nonetheless, it is preferable to gain MSME/Udyam registration as the government offers several benefits to businesses that have Udyam registration, including lending facilities, simple access to credit, low-interest rates, eligibility for various programmes, etc.

Is an Aadhar card required to register for Udyam?
Yes, acquiring an Aadhar is required in order to register for Udyam.

 What paperwork is necessary for Udyam Registration?
During the registration procedure, the user must supply their 12-digit Aadhar number, PAN Card, and the business’s bank account information.

 How long is an Udyam registration valid?
There is no need to renew the registration because it is good for the duration of the firm.