All types of enterprises as it is micro, small, and medium enterprises, are required to get a special type of registration under the separate ministry of the government of India that is a ministry of MSME, and the registration under this ministry of MSME is known as the Udyam registration, Udyam means enterprise and the registration under this is said to be Udyam registration, it is also known as the MSME registration, this is issued to the small scale business or enterprises and after the completion of registration a certificate is provided along with a unique number, this certificate is known as the Udyam registration certificate here there is a dynamic QR code is provided where all the details or information about the applicants are mentioned.
The key motive to providing this registration and certificate is to facilitate the enterprises through the government initiatives or schemes which benefit the enterprises by several means in the business.
Also, Read – NIC Code for udyam registration
Now who can avail of this Udyam registration :
The enterprises which come under the MSME ( we will mention the MSME precisely) are involved in the manufacturing and services sectors. In another sense, the enterprises which do not involve in selling the goods, importing, and exporting the goods, are not eligible for applying in the registration process under the Udyam registration.
along with the above criterias, I am going to tell you that which types of enterprises come under the MSME to avail of the government benefits and relaxations :
The composite criterias for both the Manufacturing and service sectors
manufacturing sectors: are enterprises that are involved in the production of goods in the company or industries.
service sector: For the Micro Enterprises: the enterprises which are involved to provide the services.
criterias for the MSME enterprises, it is a revised MSME criterias :
Micro enterprises: the range of annual investment should be below rs 1cr and the turnover of the enterprises should be below rs 5.
Small enterprises: enterprises, where the investment is in the range of between Rs 1 cr and 10 cr and the annual turnover, is between Rs 5 crore and 50 cr.
Medium enterprises: in this criteria, the investment of the enterprises is between Rs 10 cr and rs 20 cr and the annual turnover is between Rs 50 cr and 100 cr.
Process of the Udyam registration ;
It has a very easy process and steps for the enterprises to get registered under the Udyam registration portal, where there is no requirement of documents and you do not have to pay any fees for the registration.
first, you to have visited the official website of the Udyam registration portal, tap on the ‘ new ‘ tab
here you have to provide your personal information: first, your name and the unique 12 digits aadhar number, now tap on the “ validate and generate OTP”, now you will get an OTP on your registered mobile number that you have provided and now enter the given OTP.
Here it is mandatory to provide the aadhar card number for the Udyam registration,
Remarks: for the proprietorship firm, the proprietor aadhar card is required to provide and for the partnership firm, the aadhar card of the managing partner is required to provide.
for the cooperative society, trust, and the other authorized signatories, have to provide PAN details for the validation.
after providing all the details which are mentioned above now you are required to give your postal address along with your mobile number and the email address.
enter the bank details of the enterprise and the enterprise details like activities of the enterprises from the service and the manufacturing sectors.
Now at last you fill the amount of investment in the firm or the enterprises you belong to.
completing all the above processes, accepting the declaration, and tapping on the “submit and final OTP ”.
enter the OTP that you received on your mobile number and continue for the final submission.
Once you click on the final submission instantly you receive a registration number. all the information you have provided is verified by the MSME ministry, after this, you receive an E- registration on your registered email ID.
What are the required documents for the Udyam registration :
It is a completely online process and it is based on self-declaration, here no paper is required to provide.
There is one paper or document which is enough for the Udyam registration process, it is an aadhar card.
and the other details like “PAN and GST linked ” information are taken automatically from the GOI database.
But now from 01-04-2021, it is mandatory to give these details like GST and PAN.
Benefits of Udyam registration
Enterprises that are willing to get the government benefits, advantages, and relaxations then they are required to get registered on the Udyam registration web portal.
It helps you to get government tenders.
Because of this Udhayam registration, it is easy to take a bank loan at a comparatively low bank rate.
no collaterals are needed for the loans.
A lot of tax rebates are available for the Udyam registered enterprises.
registered enterprises can get government subsidies on tariffs and capital subsidies also.
reimbursement of payment for getting the registration patent and will get concession for the promotion of industries. many types of rebates and relaxation you get through this Udyam registration.
you get the benefit of concession under direct tax law.
Process of Re-registration under Udyam :
for those enterprises who are already existed under Udyog Aadhar registration under the Ministry of MSME
, need for the re-registration under the Udyam registration portal. here there are the simple steps by which you can re-registered your enterprises on the Udyam enterprises portal :
- first, you visit the Udyam registration portal
- here you enter your “unique identification number” which is the Udyog aadhar registration number
- you are required to fill the form with correct details after filling in the Udyog aadhar number
- you have to make a payment for completing the registration process
- now the enterprise’s application will be processed by the executives
- once it is verified, the Udyam certificate will be sent to your email address which is registered under it within 1 to 2 working hours
here, are the documents required for the re-registration under the udyam registration portal :
The documents are: the name of the company or enterprise name along with the aadhar number what it is shown on the aadhar card, Enterprises or business’s name, earlier Udyog aadhar registration number, gives the details about the types of the business or company you run, required to provide the current details and a/c details of the owner, National Industrial classification code is needed to provide, give the details of the number of employees who are employed in your firm, information about the current activities of your firm, the entrepreneur’ mobile no and mail ID details along with the PAN and other expenditure details of the enterprises.
You saw the complete information about the Udyam registration, the benefits of this registration, and the process of Re-registration on the udyam portal, it is an easy and simple way to process your Re-registration on the Udyam portal.