The indian government released a new plan on 1st of june, 2020 aimed at improving the country economic status. This strategy was created with india msme registration portal in mind. They must apply for udyog aadhar registration which was previously known as udyog aadhar registration online. Medium and small firm will receive an electronic certificate once their registration is complete.
Procedure for new applicant to register for udyam.
Enrolling with udyam is a simple and straightforward process. Simply follow the instructions below to finish the registration.
To begin determine if you are a new as well as established entrepreneur who has not yet registered as an micro, small and medium enterprise and has entrepreneur memorandum part two.
Click the validate and generate one time password button after entering the entrepreneur aadhaar number and name.
After the one time password has been verified you will be routed to the main page.
Choose the type of organization to which your business belong.
Fill in the needed information one by one.
Check the declaration box and click the submit and create the final one time password button once you have finished the application.
You will be given an udyam registration number once your one time password has been verified which will appear at the top of the screen.
Suggested read udyog aadhaar print download.
Method of registration for existing udyog holder.
The bullet below will give you a general idea of how established enterprise can participate in the process.
Company that are currently registered under part two of the entrepreneur memorandum law must re register. They may do so before and after 1st of june, 2020.
If a company registration was completed before 30th of june, 2020 it will be classed.
Anyone who register before 30th of june, 2020 will have their registration valid until 31st of march, 2021.
Udyam registration is necessary for any firm that is registered with the ministry of micro, small and medium enterprise.
Who can take part in the udyam registration process?
The udyam registration process has been separated into category based on the type of business. Consider the following for the service and manufacturing industry.
Micro enterprise must invest up to rupees 1 crore and generate a maximum of rupees 5 crore in revenue.
Small and medium sized firm should invest no more than rupees 50 crore. On the other side the turnover should be less than rupees 250 crore.
Small firm should invest a maximum of rupees 10 crore and generate a maximum of rupees 50 crore in revenue.
To finish the registration process what document and information are required?
You must submit the following paper to complete the registration process.
A valid permanent account number card as well as aadhar card and voter identity card are required of the applicant.
It is important to provide proof of the company registered address.
A working email address and phone number are required.
Is it necessary to have a permanent account number and goods service tax identification number to register with udyam?
Organization that do not have a permanent account number and goods service tax identification number have been granted a reprieve until 31st of december, 2021 according to the ministry. They can register on a self declaration basis until 31st of march, 2021 after which they will need a permanent account number and goods service tax identification number.
What are the benefit of signing up with udyam?
We will go over the advantage of udyam registration in this section so pay attention to the bullet points below.
A subsidy is provided by the government. Those industry that are registered under the developmental legislation of 2006, notably medium and small sized one are eligible for a large government subsidy. It is worth noting that the government provide financial assistance for registering a company patent name and promoting it.
Also read udyog aadhaar print.
There is no collateral. The indian government established a program in which it chose to provide small scale enterprise with credit based loan without demanding collateral.
International standard organization registration refund. Both larger and small enterprise must invest a certain amount of money to get international standard organization registered. The best part is that they are reimbursed for this money by the indian government.
Discount on electricity bills. Small and medium sized enterprise that use the udyam registration site for the first time will earn a reduction on their electricity bill.
Obtain government tender. Small and medium enterprise with the udyam certificate are allowed to bid on government contract. Simultaneously the government is likely to provide some assistance.
Other application and registration are not difficult to obtain. A corporation can easily receive other official certification and paperwork and even apply for other registration after receiving an udyam registration certificate.
Exemption from paying tax. Company that received the udyam registration may be eligible for a tax break once more.
Participate in overseas promotion. The indian government provide udyam registration certificate to enterprise that want to participate in foreign fair. This exposure help to promote their product.