Udyam registration is the new process introduced by the government of India on July 1, 2020. It was previously known as Udyog Aadhar Registration. As per the notification issued by the Ministry of MSME on 26th June 2020 micro, small and medium enterprises (MSME) will now be known as udyam. After the release of udyam registration, it will be beneficial for the entrepreneur who wants to start their own business.
The Union Ministry of Micro, Small and Medium Enterprises (MSME) has currently launched a new web portal for this purpose. This portal will give a detailed guide to the entrepreneurs for registration under this portal and help at every step as per their requirements.
According to the ministry of MSME definition of Micro, Small and Medium are as follows:
MICRO: Business whose investment in plant and machinery should not exceed Rs 1 Crore and Annual turnover should not be more than 5 Crore.
SMALL:Business whose investment in plant and machinery should not exceed Rs 10 Crore and Annual turnover should not be more than 50 Crore.
MEDIUM:Business whose investment in plant and machinery should not exceed Rs 50 Crore and Annual turnover should not be more than 250 Crore.
Benefits of Udyam Registration
There are several benefits for registration under Udyam were as follows:
It makes the registration process easy for entrepreneurs who want to start the business at Micro, Medium, and Small level.
It encourages the ease of doing business and helps in economic development.
For filling udyam registration there will be no fee charged for this purpose.
For udyam registration, Aadhaar shall be required.
In case of private limited company or limited liability partnership firm along with Aadhaar number, GSTIN and PAN number will be required.
No enterprises are allowed to file more than one udyam registration.
After the registration under udyam you will get the certificate of registration.
Document Required for Udyam Registration
According to the Union Ministry of Micro, Small and Medium Enterprises (MSME) it should be required any documentation or proof for registration under udyam. It is a fully online based and paperless procedure. But it is necessary to keep Aadhaar number, GSTIN, and PAN for registration purposes.
This website is a property of a consultancy firm, providing consultancy services.
We expressively declare that we are private consultants. We have no relation or we do not represent any government official or any government department.
Site best viewed at 1024 x 768 resolution in Internet Explorer 10+, Google Chrome 49+, Firefox 45+ and Safari 6+