Udyam Registration
About Our Service
The Ministry of Micro, Small & Medium Enterprises has recently implemented Udyam Registration, commonly known as MSME Registration, as the process for registering micro, small, and medium enterprises. Enterprises receive a permanent registration number and a recognition certificate as a result of the registration procedure, known as Udyam Registration. Along with the beginning of this registration process, the Ministry changed the definition of MSMEs.
Since July 2020, Udyam registration has taken the role of Udyog Aadhaar registration, which makes it easier for users to complete than Udyog Aadhaar registration did. To enjoy the advantages provided by the Ministry of MSME, such as the Credit Guarantee Scheme, public procurement policy, advantages in government contracts, and protection against delayed payments, among others, Udyam registration is required.
The Udyog Aadhaar Memorandum (UAM) registration has been replaced by the Udyam registration, an electronic certificate offered by the government to MSMEs in India. Even though it is optional, MSMEs should register with Udyam because it gives them access to a number of advantages. These advantages aid in the growth and development of MSMEs across India.
Udyam Registration by FilingMan is your gateway to simplifying the complex process of enrolling your micro, small, or medium enterprise (MSME) for official recognition and numerous government benefits. With a keen understanding of the intricate requirements and procedures, FilingMan streamlines the Udyam Registration process, ensuring that your business gains the advantages it deserves. Our dedicated experts guide you through each step, from gathering the necessary documents to accurately filling out the application, all while ensuring compliance with the latest regulations.
Documents Required
It is not necessary to upload any documents during the self-declaration portion of the online Udyam Registration application process. For business registration, applicants just need to supply their 12-digit Aadhaar number, PAN, and bank account information. This streamlined method makes the registration process easier and guarantees applicants a hassle-free experience.
Some useful Registration Process Details
Individuals can go to the program's official website to apply for Udyam registration for a micro, small, or medium-sized business. There is no requirement to upload any documents because the registration process is based on self-declaration. After registering, a person is given a special, permanent identifying number called an Udyam registration number. The applicant receives a digital Udyam registration certificate as proof of registration after the procedure is successfully completed.
Units with the same PAN number and a GSTIN (Goods and Services Tax Identification Number) would be regarded as a single business. The average of all the units will be used to compute the investment and turnover for these units.
The Udyam registration self-declaration is good until March 31, 2021. From from point forward, registration must have a GSTIN.
There is no registration fee required to access the Udyam registration form on the official website. During the registration process, the Aadhaar number must be provided. According to the guidelines on the page, the authorised representative's Aadhaar and GSTIN details must also be submitted if the company is a limited liability partnership, trust, or society.
A self-declaration can be used to supply any additional information needed while registering with the PAN number. It's vital to remember that each venture is only permitted one Udyam registration, therefore you shouldn't try to register more than once.
Any enterprise that is proven to have lied in its self-declaration may be punished according to Section 27 of the MSMED Act. All undertakings that had previously been registered under EM-Part-II or UAM are required to apply for Udyam registration on or after July 1t.
To ensure compliance with the MSMED Act and prevent any potential fines or legal repercussions, it is advised that ventures follow the rules and criteria outlined for Udyam registration.
Udyam Registration Eligibility
Businesses that meet the following criteria, including manufacturing, service, and trading businesses, may apply for Udyam registration:
1. Microbusinesses
Companies with a turnover of less than Rs. 5 crore and an investment in machinery, plant, or equipment of less than Rs. 1 crore.
2. Small businesses
Small businesses, which are defined as those with a turnover of less than Rs. 50 crore and an investment in machinery, plant, or equipment of less than Rs. 10 crores.
3. Medium-sized businesses
Companies that invest less than Rs. 50 crores in machinery, plant, or equipment and have annual sales of less than Rs. 250 crores.
These divisions based on investment and revenue ensure that businesses of different sizes can take advantage of the Udyam registration procedure and gain access to the numerous government MSMEs assistance programmes and programmes.
Udyam Registration Costs
₹ 499 / Only
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Benefits of Udyam Registration
1. The Credit Linked Capital Subsidy Scheme, the Credit Guarantee Scheme, and the Public Procurement Policy are just a few of the government programmes and schemes that MSMEs can take advantage of by registering with Udyam.
2. For MSMEs, the overall business operations are made simpler by the seamless integration of the Udyam portal with other government platforms including the income tax site, GST identification systems, and government e-marketplace.
3. Banks are more likely to lend to MSMEs with Udyam registration, facilitating quicker access to funding. Additionally, these MSMEs have a 15-year carryforward period for the Minimum Alternate Tax (MAT) credit, giving them increased tax advantages.
4. Due to the Udyam registration, MSMEs can obtain bank loans at lower interest rates. These interest rates typically range from 1.5% to 1.7%. This makes it easier for MSMEs to find affordable finance choices, boosting their development.
