{"id":701,"date":"2021-07-31T10:59:54","date_gmt":"2021-07-31T10:59:54","guid":{"rendered":"http:\/\/modbig.com\/?p=701"},"modified":"2021-08-11T11:46:25","modified_gmt":"2021-08-11T11:46:25","slug":"all-you-need-to-know-about-the-new-msme-udyam-registration-process","status":"publish","type":"post","link":"https:\/\/www.modbig.com\/all-you-need-to-know-about-the-new-msme-udyam-registration-process\/","title":{"rendered":"All you need to know about the new MSME Udyam Registration Process"},"content":{"rendered":"\n<p>The government has set up a system to make it easier for MSMEs to register. Udyam will be the name of the company that will handle this process, and the registration process will be called &#8220;<a href=\"https:\/\/eudyogaadhaar.org\/\" target=\"_blank\" rel=\"noopener\"><strong>Udyam Registration<\/strong><\/a>.&#8221; Following registration, you will be granted a permanent registration number.<\/p>\n\n\n\n<p>A business is categorized as a micro, small, or medium business if it meets the following criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>A Micro Enterprises: <\/strong>when the total investment in plant, machinery, or equipment is less than one crore rupees and the total turnover is less than five crore rupees;<\/li><li><strong>A Small Enterprises: <\/strong>when the total investment in plant, machinery, or equipment is less than ten crore rupees and the total sales is less than fifty crore rupees; and<\/li><li><strong>&nbsp;A Medium Enterprises: <\/strong>when the investment in plant, machinery, or equipment is less than fifty crore rupees and the sales is less than 250 crore rupees<\/li><\/ul>\n\n\n\n<p>A certificate will be issued online once the registration process has been completed. This certificate will include a dynamic QR code that can be used to access the Portal&#8217;s webpage as well as information about the company. Registration will not be required to be renewed. The registration procedure is completely free.<\/p>\n\n\n\n<p>The process will be aided by single-window systems in Champions Control Rooms and DICs.<\/p>\n\n\n\n<p>Anyone who wants to start a micro, small, or medium business can use the Udyam Registration portal to fill out a self-declaration form with no need to upload any paperwork, papers, certifications, or proof.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The New Udyam Registration Process&#8217;s Basic Features<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The MSME registration process is entirely online, without the use of paper, and is based on self-declaration.<\/li><li>For registering an MSME, no paperwork or proof are necessary; merely an Aadhaar number would suffice.<\/li><li>PAN and GST-related information on investment and turnover of businesses would be automatically retrieved from government databases.<\/li><li>The online system will be fully connected with the systems used by the IRS and the GSTN.<\/li><li>PAN and GSTIN will be required.<\/li><li>Former EM-II or UAM registrations, as well as any other registration issued by the Ministry of MSME, must be re-registered under Udyam Registration.<\/li><li>There may be no more than one Udyam Registration per business. In one Registration, however, any number of activities, including production, service, or both, may be stated or added.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The following are some of the advantages of registering for Udyam:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Registration with Udyam facilitates the acquisition of government contracts.<\/li><li>Bank loans become cheaper as a result of the Udyam since the interest rate is very low (up to 1.5 percent lower than conventional loans).<\/li><li>Udyam is eligible for a number of tax breaks.<\/li><li>It is easier to obtain permits, approvals, and registrations, regardless of the field of the company, because businesses registered with Udyam are given priority for government licences and certification.<\/li><li>They are able to obtain credit quickly and at reduced interest rates.<\/li><li>Tariff, tax, and capital benefits are all available to registered Udyams.<\/li><li>Once registered, the cost of obtaining a patent or establishing an industry is reduced due to the numerous discounts and concessions available.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Procedure for New Registration:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The registration form will be available on the Udyam Registration portal.<\/li><li>There will be no charge for registering for Udyam.<\/li><li>Udyam Registration will require an Aadhaar number.<\/li><li>In the case of a proprietorship firm, the Aadhaar number will be that of the proprietor, the controlling partner in the case of a partnership firm, and a Karta in the case of a Hindu Undivided Family.<\/li><li>The organisation or its authorised signatory must submit its GSTIN and PAN, as well as its Aadhaar number, in the case of a Company, a Limited Liability Partnership, a Cooperative Society, a Society, or a Trust.<\/li><li>If an enterprise is properly registered as an Udyam with a PAN, any missing information from earlier years when it did not have a PAN must be self-declared.<\/li><li>There shall be no more than one Udyam Registration per business:<\/li><li>In one Udyam Registration, any number of operations, including production, service, or both, may be identified or added.<\/li><li>Anyone who willfully misrepresents or tries to suppress self-declared facts and figures in the Udyam Registration or update procedure will be subject to the punishment provided in section 27 of the Act.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Updates to existing MSMEs&#8217; Udyam registrations<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>On or after July 1, 2020, all existing firms registered under EM\u2013Part-II or UAM must re-register on the Udyam Registration portal.<\/li><li>This notification will reclassify all businesses registered until June 30, 2020.<\/li><li>Existing businesses that were registered before June 30, 2020, will only be valid until March 31, 2021.<\/li><\/ul>\n\n\n\n<p>MSME contributes significantly to India&#8217;s economic growth through its contributions to production, exports, and employment. They encourage rural and backward areas to industrialize, therefore minimizing regional imbalances. The government&#8217;s many initiatives and incentives for MSMEs encourage entrepreneurs to create and expand their business concepts.<\/p>\n\n\n\n<p><strong>Suggested Read: <\/strong><a href=\"https:\/\/eudyogaadhaar.org\/blog\/udyam-registration-certificate-benefits\" target=\"_blank\" rel=\"noopener\"><strong>Benefits of Udyam Registration<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has set up a system to make it easier for MSMEs to register. Udyam will be the name of the company that will handle this process, and the registration process will be called &#8220;Udyam Registration.&#8221; Following registration, you will be granted a permanent registration number. A business is categorized as a micro, small, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":702,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[60,55,46,53,61,66,70,51,62,45,56,47,67,44,63,64,68,52,54,59,49,43,50,42,40,58,48,57,69,65],"class_list":["post-701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-goitrackidsp-006","tag-micro-department","tag-micro-small","tag-micro-small-and-medium-enterprises","tag-micro-small-and-medium-enterprises-chennai","tag-micro-small-and-medium-enterprises-india","tag-micro-small-and-medium-enterprises-registration","tag-micro-small-medium-enterprises","tag-micro-small-medium-enterprises-registration","tag-msme","tag-msme-certificate","tag-msme-india","tag-msme-loan","tag-msme-online","tag-msme-registration","tag-msmes","tag-small-scale-industries-online-registration","tag-sme-in-india","tag-smes-india","tag-ssi-registration","tag-ssiregistration","tag-udhayog","tag-udyam","tag-udyam-certificate","tag-udyam-registration-process","tag-udyog","tag-udyog-aadhaar","tag-udyog-aadhar","tag-what-is-msme","tag-www-msm-es"],"_links":{"self":[{"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/posts\/701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/comments?post=701"}],"version-history":[{"count":1,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/posts\/701\/revisions"}],"predecessor-version":[{"id":703,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/posts\/701\/revisions\/703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/media\/702"}],"wp:attachment":[{"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/media?parent=701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/categories?post=701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.modbig.com\/wp-json\/wp\/v2\/tags?post=701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}