What is udyam registration
Udyam registration online is a new online registration process introduced by the Indian government for micro, small, and medium-sized enterprises (MSMEs) in India. It is a one-time registration process that replaces the earlier system of obtaining a provisional registration certificate and a permanent registration certificate separately.
Udyam registration is aimed at simplifying the registration process and providing various benefits to MSMEs, such as access to government schemes, subsidies, and other incentives. The registration process is completely online, and MSMEs can register themselves by visiting the official website of the Ministry of Micro, Small and Medium Enterprises (MSME).
To be eligible for Udyam registration, a business must fall under the definition of MSME as defined by the Government of India, which is based on its investment in plant and machinery or equipment and turnover. The registration process requires the business to provide basic information such as name, Aadhaar number, PAN number, bank details, and other relevant information. Once registered, the business is issued a unique Udyam Registration Number (URN) and an e-certificate, which is valid for a lifetime.
Who can apply for Udyam registration?
Any Indian entity that meets the definition of micro, small, or medium-sized enterprises (MSMEs) can apply for Udyam registration. The definition of MSMEs is based on their investment in plant and machinery or equipment and turnover, which was revised by the Indian government in 2020.
According to the new definition, micro-enterprises are those with an investment of up to Rs. 1 crore in plant and machinery or equipment and an annual turnover of up to Rs. 5 crore. Small enterprises are those with an investment of up to Rs. 10 crore in plant and machinery or equipment and an annual turnover of up to Rs. 50 crore. Medium enterprises are those with an investment of up to Rs. 50 crore in plant and machinery or equipment and an annual turnover of up to Rs. 250 crore.
Therefore, any entity that falls under the above-mentioned investment and turnover limits can apply for Udyam registration, including sole proprietorships, partnerships, limited liability partnerships (LLPs), private limited companies, public limited companies, and any other type of entity recognized under Indian law.
Is Udyam registration mandatory for all MSMEs?
Udyam registration is not mandatory for all MSMEs, but it is highly recommended by the Indian government. As per the official notification by the Ministry of Micro, Small and Medium Enterprises (MSME), Udyam registration is voluntary and not mandatory.
However, obtaining Udyam registration provides several benefits to MSMEs, such as access to government schemes, subsidies, and other incentives. Also, Udyam registration has replaced the earlier system of obtaining a provisional registration certificate and a permanent registration certificate separately, making the registration process more streamlined and simplified.
Furthermore, many government tenders and contracts require Udyam registration as a mandatory eligibility criterion. Therefore, it is advisable for all MSMEs to register themselves under Udyam registration to avail of the various benefits and opportunities provided by the government.
What is the validity of Udyam registration?
The Udyam registration certificate is valid for a lifetime, which means that once an MSME is registered under Udyam, it does not need to renew its registration certificate. Unlike the earlier system of obtaining a provisional registration certificate and a permanent registration certificate separately, Udyam registration is a one-time process, and the certificate issued is valid for the lifetime of the enterprise.
However, it is important to note that if there is any change in the details provided during the registration process, such as change in ownership, location, or turnover, the MSME must update its registration details on the Udyam portal within the prescribed timeline to avoid any penalty or action by the government.
Udyam enlistment is a web-based process that means to improve on the enrollment cycle for Miniature, Little, and Medium Endeavors (MSMEs) in India. The cycle is straightforward and can be finished in a couple of simple tasks. The cycle is straightforward and can be finished in a couple of simple tasks. In this article, we will guide you through the step-by-step process for applying for Udyam registration.
Step 1: Gather the Required Documents
Before beginning the Udyam registration process, you will need to gather the following documents:
Aadhaar card of the authorized signatory
PAN card of the enterprise
Bank account details of the enterprise
Business address proof
Relevant business registration documents, such as GST registration or partnership deed.
Make sure that you have all the required documents in a digital format before proceeding to the next step.
Step 2: Visit the Udyam Registration Portal
The Udyam registration portal is a government portal specifically designed for MSMEs to register themselves. To visit the portal, go to https://udyamregistration.co/ Once you are on the homepage, click on the “For New Entrepreneurs who are not Registered yet as MSME” link.
Step 3: Enter Your Aadhaar Card Details
In this step, you will need to enter your Aadhaar card details, including your name, Aadhaar number, and other relevant details. Ensure that the subtleties you enter are exact and match the subtleties on your Aadhaar card.
Step 4: Enter Your Personal Details
In this step, you will need to enter your personal details, such as your name, gender, and date of birth. Ensure that you enter every one of the subtleties accurately.
Step 5: Enter Your Business Details
In this step, you will need to enter your business details, such as the name of your enterprise, the type of enterprise, the date of commencement of operations, and the location of the enterprise.
Step 6: Enter Your Bank Account Details
In this step, you will need to enter your bank account details, including the name of the bank, the branch name, the account number, and the IFSC code. Step 7: Enter Your Business Activities.
In this step, you will need to enter your business activities, such as the type of goods or services provided by your enterprise.
Step 8: Upload the Required Documents
In this step, you will need to upload the required documents, such as your Aadhaar card, PAN card, business address proof, and other relevant documents. Make sure that you upload all the documents in the required format and size.
Step 9: Declaration and Submission of Application
In the final step, you will need to read and accept the declaration, which states that the information provided by you is accurate and true to the best of your knowledge. Once you have read and accepted the declaration, you can submit your application by clicking on the “Submit” button.
After submitting your application, you will receive an acknowledgement receipt containing a unique Udyam registration number. This number will serve as proof of your Udyam registration.
Also read our article : online msme registration process in india
Conclusion
Udyam registration is a simple and easy process that can be completed in a few easy steps. By registering your MSME under Udyam registration, you can avail of various benefits provided by the government, such as access to government schemes, subsidies, and other incentives. So, if you haven’t registered your MSME under Udyam registration yet, now is the time to do so.
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