Beginning on July 1, micro, small, and medium-sized firms must register with the government. Those who are interested in launching a project should submit an application using self-attested paperwork through the Online Udyam Registration Portal.
Once the registration process is complete, you will be given a registration form number and a registration certificate. The same project shouldn’t have more than one registration.
See Also: udyam registration benefits
Becoming a micro, small or medium enterprise:
- The Udyam Registration Portal can be used by anyone who wishes to form a micro, small, or medium business to submit paperwork, certifications, or proof of necessity along with a self-declaration.
- When you click on Registration, a page where you can register will be provided to you.
- An electronic certificate called an Udyam Registration Certificate will be issued upon the completion of the registration process.
With effect from July 1, 2020, the Central Government defines the standards for classifying micro, small, and medium-sized businesses, as well as the format and procedure for filing the memorandum, in accordance with the recommendations made by the Advisory Committee.
Procedure for registering:
- The registration form will be available on the Udyam Registration Portal.
- It would be necessary to register for an Aadhaar number Udyam.
- The case of a proprietorship company, the controlling partner, and the Karta in the instance shall be the Hindu Undivided Family (HUF) of the Aadhaar number.
- The Organization or its Authorized Signatory must supply its GSTIN and PAN, as well as its Aadhaar number, in the event of a Company, a Limited Liability Partnership, a Cooperative Society, or a Trust or a Trust.
- Any shortfall information for the past years when the PAN should be filled up is a self-declaration basis if a firm is officially registered as an Udyam with a PAN.
- No business may submit more than one Udyam Registration, with the exception that any number of activities, including manufacturing, service, or both, may be listed or added to a single Udyam Registration.
- Anyone who knowingly suppresses or tries to hide self-reported facts and figures in the Udyam Registration or updating procedure is subject to the penalties set out in section 27 of the Act. 7.
What are the Udyam Registration Portal’s Requirements?
The only prerequisites are that your business or organization falls under the new msme definition and that it wants to establish micro, small, or medium enterprise under the MSME Definition Act. Aside from the MSME Definition, the Aadhar Card is a necessary component for Udyam Registration. So, the following is a simplified list to help you identify a person’s aadhar card according to their legal organization.
- In the case of a proprietorship firm, the proprietor’s AADHAR card is sufficient for udyam registration.
- In the case of a partnership firm, any partner’s Aadhar card is necessary.
- In the case of a HUF, a Karta Aadhar Card is necessary.
- In the case of a company, LLP, or trust, an approved signatory’s Aadhar card is necessary.
Who Must Register for Udyam Registration?
So, there are two types of business categories that must register with the Udyam Registration Portal:
Before June 30, 2023:
If your business, firm, or company had already registered through the Udyog Aadhar Portal before June 30, 2020, and received a 12-digit Udyog Aadhar Registration Number, you must register again on the Udyam Registration Portal till Dec 31, 2021. Because your 12 Digital Udyog Aadhar Memorandum Number would expire for the same on Dec 31, 2021.
After July 1st, 2023
If your company is not registered on the Udyog aadhar site but has other legal registrations such as GST or Pan, or if you are going to start a new business in India, you can apply directly at the Udyam Registration Portal rather than the old Udyog Aadhar Portal.
Existing Business Entity Registration:
- All existing companies registered under EM-Part-II or UAM must register on the Udyam Registration portal.
- This notice will be reclassified, affecting all companies registered until June 30, 2020.
- Existing businesses that were registered before June 30, 2020, will only be valid until December 31, 2021.
In conclusion, the Udyam Registration scheme for Micro, Small, and Medium Enterprises (MSMEs) in India has brought about significant benefits and opportunities for businesses operating in this sector. The scheme aims to provide a simplified and streamlined registration process, replacing the earlier system of MSME registration.
Udyam Registration offers several advantages to MSMEs. Firstly, it allows businesses to avail themselves of various government schemes, incentives, and subsidies that are specifically designed to support their growth and development. This includes access to financial assistance, tax benefits, credit facilities, and priority sector lending, among others.
Secondly, the Udyam Registration certificate serves as a credible proof of recognition by the government. It enhances the visibility and credibility of MSMEs, enabling them to build trust with customers, suppliers, and financial institutions. It also opens up opportunities for participating in government tenders, collaborations, and partnerships, thereby expanding their market reach.
Furthermore, Udyam Registration provides a centralized platform for MSMEs to access information, resources, and support services. This includes skill development programs, market linkages, technology adoption, and mentorship initiatives. Such support mechanisms foster innovation, competitiveness, and overall business growth.