Under the ministry of micro, small and medium enterprises, Udyam registration online is the single window process where the small scale enterprises can get their companies registration to run their enterprises in the market.
The enterprises who have this Udyam registration can get many government benefits through government initiatives.
What are the needs of Udyam Registration?
Enterprises or the business owners who want to run their business smoothly, they need to have this Udyam registration, Udyam registered business owners can get the facilities of government initiatives or schemes which helps to run their business as well as there are the several types of benefits, they are provided by the government of India.
Before going to the topic, i will light on the term MSME :
Here briefly I will describe the term MSME which helps you all to understand the whole process of Udyam registration in a better way :
Under the government of India, MSME has been established under MSMED( micro, small and medium enterprises development) act, 2006. It is the highest governing and executive body of the government of India for te small scale businesses which administer and formulate the rule of laws for small-scale companies or enterprises.
here on the basis of production, preservations, or processing of the goods, it has several criterias which is important to describe :
Existing Criterias for MSMEs
On the basis of Manufacturing sector, the criterias are :
Those enterprises whose annual investment in a plant or company does not exceed 25 L.
small scale enterprises
Small enterprises are those whose annual investment in a company is between 25 L and 5 cr.
Where the investment ranges between 5 cr and 10 cr.
on the basis of providing the services in the market sector, the criterias are :
The annual investment in the company or enterprises should not exceed 10 L.
Where the investment range should be between 10 L and 2 cr.
Here the investment in the company should be between 2cr and 5 cr.
Revised Criterias of MSMEs
After the introduction of Atma Nirbhar Bharat(ABA), the government has revised the MSMEs criterias, it is a composite criterias which is on the basis of both investment and annual turnover. And removed the distinction between manufacturing and service sectors under MSMEs.
The investment should be below Rs 1 Cr and annual turnover should be less than Rs 5 Cr.
Investment < rs 10 Cr and Annual turnover < Rs 50 Cr
Investment < s 50 Cr and Annual turnover < Rs 250 Cr.
In the above series of paragraphs we have discussed the given fact about the criterias for the enterprises under MSMEs.
Now in the next paragraph we are going to discuss the required documents for the registration under the MSMEs.
Mandatory documents for MSME registration
There are two main documents needed for the Udyam registration, these are Aadhar Card and PAN Card. The MSME registration is a fully online procedure and there is no need to provide document proof.
The Udyam Registration Portal would automatically retrieve PAN and GST-linked information on investment and turnover from government databases. The MSME registration is completely integrated with the GSTIN and Income tax Systems.
Here you should know that it is mandatory to have the PAN and GST from 01-04-2021.
Here one thing is more important to know that enterprises or the companies owners are not eligible to file more than one Udyam registration. although any activities which include manufacturing and services may be added in one registration.
Now i am going to tell you about the online process for the Udyam registration so that the applicants never face the problems while filling the online process for the registration, this slide will help you all that how to register their business :
Online process for Udyam registration :
- First you will have to visit the official website, click here “ Online apply for MSME Registration”.
- Enter the details in the blank shall
- After completely filling the details correctly then click on to submit.
- Payment window will open here where you have to make payment.
- Many modes of payments are given like Credit or Debit card, SBI bank challan, internet Banking and the many UPI payment modes.
- When you complete the payment then one of our team experts will contact and initiate your registration process.
- After completion of the whole process of Udyam registration, the Udyam registration certificate will be sent on your email where you can download it safely.
- only one document you are required to provide is the Aadhar card for the registration
- if the firm is of proprietor firm then the aadhar would of the proprietor, and if the firm is the partnership firm then the managing partner aadhar is required for complete the registration process
- The documents like Aadhar card, GSTIN, and PAN will be required for the “limited liability partnership, cooperative society, trust, and the authorised signatories”.
- more than one Udyam registration will not be entertain for any enterprises, all the activities which include manufacturing and services may be added in one Udyam registration
- the registered enterprises which is registered before 30 June 2020, their registration will be valid up to 31 dec, 2021
- it is completely online, no documents are required and it is based on the self declaration
- no need to upload the documents or the proofs for the udyam registration
- aadhar number is enough for the registration
- for the other details like PAN and GST linked information, it will be taken automatically from the government of india database
- now from 01-04-2021, it is mandatory to have the PAN and GST number
So I mentioned the whole process for the Udyam registration in India, it will really help you to vanish the confusion.
It plays a vital role prominently for the small-scale enterprises in India. According to an economic survey, a large part of the Indian economy is dependent on micro, small, and medium enterprises because MSMEs share a large part in Indian GDP.