Registration for MSME/UDYAM

Posted by udyam registrationonline on August 26th, 2021

Anyone who wants to start a micro, small, or medium business can use the Udyam Registration portal to register their MSME/UDYAM Registration. It is based on self-declaration, and no paperwork, papers, certifications, or evidence are required to be uploaded. An enterprise will be issued a permanent identifying number known as the \"Udyam Registration Number\" when it registers. An e-certificate named \"Udyam Registration Certificate\" will be given upon completion of the registration procedure.

Registration for MSME/UDYAM Everything you need to know is as follows:

1. The MSME registration process is purely online, with no paper involved, and is based on self-declaration.

2. For registering an MSME, no paperwork or evidence is required to be supplied.

3. For registration, only an Adhaar number will suffice.

4. In the event of a proprietorship company, the Aadhaar number will be that of the proprietor; in the case of a partnership, it would be that of the controlling partner.

5. The GSTIN and PAN, as well as the Aadhaar number, must be provided by the entity or its authorized signatory.

6. PAN and GST-related data on business investment and turnover will be accessed automatically from government databases.

7. The government\'s online system would be completely connected with the systems for income tax and GSTIN.

8. With effect from 01.12.2021, PAN and GSTIN are required for Udyam Registration.

9. Each firm may only have one Udyam Registration.

10. Section 27 of the Act punishes anybody who wilfully misrepresents or tries to hide self-declared facts and data during the Udyam Registration or update procedure.

11. Re-registration is required for those with an EM-II or UAM registration, as well as any other registration issued by a Ministry of MSME authority.

The MSME/UDYAM Registration Process is as follows:

Step 1: Complete the MSME registration form online at the Udyam Registration site with all needed information.

Step 2: If you are a New Entrepreneur who has not yet registered as an MSME, click the first link.

Step 3: Click on ‘Validate & Generate OTP\' after entering your Aadhaar number and name.

Step 4: After you\'ve completed the verification process, you\'ll need to fill out the PAN information.

Step 5:  An OTP request will be issued to your phone once again at the end of the form. To correctly submit the form, enter the OTP and verification code.

Step 6: Once Your registration will be completed, and you will receive your MSME certificate through email.

FOR EXISTING ENTERPRISES, MSME/UDYAM REGISTRATION:

• All current firms registered under EM–Part-II or UAM must re-register on the Udyam Registration Portal on or after July 1, 2020.

• Following this announcement, all businesses registered through June 30, 2020, will be classed.

• Existing businesses that were registered before the 30th of June 2020 will only be valid until December 31, 2021.

• Udyam Registration is needed for every firm that is registered with the Ministry of Micro, Small, and Medium Enterprises.

MSME/UDYAM Registration Benefits:

It is not necessary to register your MSME. If you register, your firm will be eligible for an excise privilege plan from direct taxes, as well as special bank programs tailored to MSMEs.

Additionally, firms who are registered and have an MSME certificate will receive benefits from several government offices, including power.

• The MSME certificate might help you get government contracts.

• 15% import subsidy on fully automated machinery under bank loan

• Compensation for the cost of an ISO certificate

• MSME registration facilitates the acquisition of low-interest loans by new entrepreneurs, dealers, and company owners.

• MSMEs that are registered are eligible for tariff, tax, and capital incentives.

• Gets exemption under Direct Tax Laws

• Take advantage of incredible discounts and savings on patents and new company ventures.

• For the outstanding sum, there is a one-time settlement charge.

• MSMEs are given priority by the government.

• Government credit guarantee programs are available.

• Special attention is paid to international trade fairs.

• Subsidy for bar code registration

• Support from your state government

Suggested Read- udyam registration benefits in hindi

Conclusion:

I went through the msme/udyam registration procedure for new and existing users, as well as the advantages of doing so. I hope you\\'ll find this blog to be useful.