On 1st of june, 2020 the union cabinet approved the modalities and road map for msme registration portal. India aspire to take the next significant step forward. The endeavour to skill india activity aimed at economic infrastructure development has promoted the start up culture and expanded.

 Micro entrepreneurship. The young indian entrepreneur will want knowledgeable personnel and talented technical staff who are versatile as well as analytical and can be a driving force in gaining market share. Micro, small and medium enterprise contribute significantly to the indian economy not only in term of gross domestic product but also in term of export and job generation.

I sought to shed some light on the following in my blog.

 Udyam. 

 Micro, small and medium enterprise definition.

 Calculation of investment.

 Calculation of turnover.

 The registration procedure.

 Existing business registration.

Udyam.

According to an micro, small and medium enterprise statement dated 26th of june, 2020 udyam registration is a new micro, small and medium enterprise registration procedure announced by the ministry of micro, small and medium enterprise on 1st of july, 2020.

Suggested read udyog aadhaar print download.

Micro, small and medium enterprise definition.

Enterprise are split into two group under the micro, small and medium enterprise development act of 2006, enterprise are divided into two category. 

Manufacturing enterprise. Enterprise that manufacture as well as produce thing in any industry. 

Service enterprise. Those that provide as well as render service.

Investment calculation.

Investment in plant and machinery will be calculated using prior year income tax returns filed under the income tax act of 1961.

The investment will be based on the promoter self declaration in the event of a new firm with no prior income tax return and this relaxation will end after the 31st of march of the financial year in which the business file its first income tax return.

The word plant and machinery should have the same meaning as plant and machinery in the income tax rule, 1962 adopted under the income tax act, 1961 and refer to the business whole physical asset. 

If the company is new and does not have an income tax return  the purchase value of plant and machinery whether new and used shall be taken into account on a self disclosure basis omitting good service tax.

Calculation of turnover

Investment in plant and machinery will be calculated using prior year income tax return filed under the income tax act of 1961.

The good service tax identification number must be linked to information about an enterprise turnover and export turnover under the income tax act and the central good and service act.

Self declaration will be used to evaluate the turnover related data of such enterprise that do not have a permanent account number until 31st of march, 2021 after which a permanent account number and goods service tax identification number will be required.

Registration process.

The registration process for the udyam registration portal is paperless and self declaratory.

The proprietor aadhaar number will be used in the case of a sole proprietorship and while the controlling partner aadhaar number will be used in the case of a partnership.

A company and a limited liability partnership as well as a cooperative society and a society as well as a trust must provide their goods service tax identification number and permanent account number as well as their aadhaar number if they are a company and a limited liability partnership as well as a co operative society and a society as well as a trust.

Any information gap from past year when the entity did not have a permanent account number must be filled out on a self declaration basis if the entity is correctly registered as an udyam with a permanent account number.

A single udyam registration might encompass a variety of activity such as production and service and no company can register for more than one udyam.

When a company register it is granted a udyam registration number which is a permanent identification number.

You will obtain an electronic certificate titled udyam registration certificate after finishing the registration process.

Also read udyog aadhaar print.

Existing business registration.

All present enterprise registered under entrepreneur memorandum part two and udyog aadhaar memorandum must re register on the udyam registration portal on as well as after 1st of july, 2020.

All enterprise that were registered before 30th of june, 2020 will be re classified according to this notice.

Existing firm whose licence were issued before 30th of june, 2020 will only be valid until 31st of december, 2021.

A company must register with udyam registration if it is already registered with another ministry of micro, small and medium enterprise organisation.

Grievance and redressal of enterprise facility.

The champion control room which are housed at various ministry of micro, small and medium enterprise institution and office including the micro, small and medium enterprise development index will act as single window system for easing the registration process and aiding micro, small and medium enterprise in any manner feasible.

District industry centre would also operate as single window facilitation system in their respective district.

Any person who is unable to file the udyam registration for any reason including a lack of aadhaar number may approach any of the above single window system for udyam registration purpose with his aadhaar enrolment identity slip and copy of aadhaar enrolment request as well as bank photo passbook and voter identity card as well as passport and driving licence and the single window system will assist in the filing of the udyam registration.In the event of a discrepancy as well as complaint the general manager of the district industry centre in the concerned district will conduct an investigation to verify the detail of the  udyam registration submitted by the enterprise and then forward the matter to the state government director as well as commissioner and industry secretary who will issue a notice.

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