A micro, small, and medium-sized enterprise (MSME) will now be known as Udyam according to the MSME ministry notification issued on June 26th, 2020. The ministry has also developed detailed criteria for the categorization of MSMEs, as well as the registration procedure and the facilitation arrangements made by the ministry in this process. The notification clarified that exports of goods or services or both are excluded when calculating any enterprise's turnover whether it is micro, small, or medium. This further mentioned that the method of registration will be recognized as udyam registration.
How to register MSME using Udyam Registration Portal?
The new MSME registration process is completely digital, paperless, and based on self-declaration. There is no documentation or proof required to submit an MSME registration.
The registration process for Udyam
Step 2: Enter the information listed on the Udyam Registration Form and check that all the details are entered correctly.
Step 3: After entering the information create the web payment for your Udyam registration Application.
Step 4: One of the registration specialists will process your Udyam registration process application.
Step 5: You will receive your Udyam Certificate of Registration at your registered email address within 1-2 hours.
Udyam Registration Benefit
Free Bank Quick Collateral Loan up to 1 Crore
Special preference for policy contract applications
Protection against delay in clients' fee
The business owner will get security against the delay in Payment
Special 50 % discount on Government payments for Trademark and Patent
Fast Resolution of Disputes
It will also reduce transaction costs and time and will enable entrepreneurs & businesses to concentrate on their actual work & become competitive globally
Udyam Registration Documentation Required
No documentation or proof is needed to be uploaded for registering an MSME,” the ministry said in a statement
Giving information on the registration, the government said the registration would include Adhaar Number, and a registration number will be issued after the registration phase is completed
After the finish of the registration process, and Udyam Certificate of Registration will be issued
This certificate would have a dynamic QR code from which you will be able to reach the web page on our portal and the business information
Registration would not be needed to be updated, the ministry stated
Registration Process is completely easy
Udyam Registration Due Date
According to a notification from the MSME Ministry dated 26.06.2020, all existing (old and new) MSME companies must immediately convert to new Udyam. Simply register here.
According to the MSME Notification Ministry, each business unit registered under MSME / Udyog Aadhaar / SSI will only be considered as a legitimate MSME until March 31, 2021.
All existing (old and new) companies will then move to Udyam Registered Business on or before 31 Mar 2021 to take advantage of the Udyam Benefits at the latest.
Should you require more assistance, please contact our registration specialist at Udyam. Just fill out the registration form at udyog-adhaar.in