What is Udyam Registration?
As already declared by the Union Ministry of Micro, Small and Medium Enterprises (MSME), vide the Notification Dated 26th June, 2020, the new process of Classification and Registration of enterprises is starting from 1st July, 2020. An enterprise for this purpose will be known as Udyam and its Registration Process will be known as 'Udyam Registration.
Who is Eligible for Udyam Registration?
Any person who intends to establish a micro, small, medium enterprise may file online udyam registration.
What are the Documents Required for Udyam Registration?
The Online Udyam Registration application process is based on self-declaration, and there is no further requirement to upload any documents, certificates, papers, or proofs.
The user will only need to provide their 12-digit Aadhaar Number, Pan Card and Bank Account details of Business for the registration process.
Further Highlights of this process are:
- The MSME registration process is fully online, paperless and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME
- Aadhaar Number will be required for registration
- A Registration number will be given after registration
- After completion of the process of registration, an Udyam Registration Certificate will be issued.
- This certificate will have a dynamic QR Code from which the web page on our Portal and details about the enterprise can be accessed
- There will be no need for renewal of Registration
- PAN & GST linked details on investment and turnover of enterprises will be taken automatically from the respective Government databases
- MSME Ministry's online system will be fully integrated with Income Tax and GSTIN systems.
- Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME, will also have to re-register themselves.
- No enterprise is supposed to file more than one Udyam Registration. However, any number of activities including manufacturing or service or both may be specified or added in one Registration
- Government's Facilitation mechanism in the name of single window systems at Champions Control Rooms and at DICs will help people in this process
- Registration Process is totally free. No Costs or Fees are to be paid in this regard.
The Ministry has expressed confidence that this process will be extremely simple, seamless entrepreneur friendly. It will set an example in Ease of Doing Business, not only in India but internationally. It will reduce transaction time and costs. Entrepreneurs and Enterprises can focus on their real work and become globally competitive.