Udyam Registration Process & MSME Classification - Description
Dear readers, here we are offering Udyam Registration Process & MSME Classification PDF to all of you. Udyam Registration is addressed to Micro, Small, and Medium Enterprises who wish to register their business. It is an online process launched by the Government of India to address various objectives of small businesses or Micro, Small, and Medium Enterprises. Banks offer low-interest rates on loans to businesses registered under various Udyam Registration small businesses. Udyam Registration helps small businesses to access various government schemes and subsidies, which are specially designed for small and medium-sized enterprises.
Enterprise Registration was earlier named “Aadhaar Registration”, but in 2020 the Government of India changed its name to “Udyam Registration”. This registration is done online and is free of cost. Many financial benefits and facilities are provided to small businesses through this registration.
Udyam Registration Process & MSME Classification PDF Highlights
An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:
|(i)||A micro-enterprise||where the investment in plant and machinery or equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;|
|(ii)||A small enterprise||where the investment in plant and machinery or equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees; and|
|(iii)||A medium enterprise||where the investment in plant and machinery or equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.|
More On Registration Process
- The form for registration shall be as provided in the Udyam Registration portal.
- There will be no fee for filing Udyam Registration.
- An aadhaar number shall be required for Udyam Registration.
- The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm, and of a karta in the case of a Hindu Undivided Family (HUF).
- In the case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or Trust, the organization or its authorized signatory shall provide its GSTIN and PAN along with its Aadhaar number.
- In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on a self-declaration basis.
- No enterprise shall file more than one Udyam Registration: Provided that any number of activities including manufacturing or service or both may be specified or added to one Udyam Registration.
- Whoever intentionally misrepresents or attempts to suppress the self-declared facts and figures appearing in the Udyam Registration or updation process shall be liable to such penalty as specified under section 27 of the Act.
Udyam Registration Process & MSME Classification Important Points
The government has organized a full system of Facilitation for the Registration Process.
- An enterprise for the purpose of this process will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’.
- A permanent registration number will be given after registration.
- After completion of the process of registration, a certificate will be issued online.
- This certificate will have a dynamic QR Code from which the web page on our Portal and details about the enterprise can be accessed.
- There will be no need for renewal of Registration.
- Our single window systems at Champions Control Rooms and at DICs will help you in the process.
- The registration process is totally free. No Costs or Fees are to be paid to anyone.
Must Follow Instructions Udyam Registration Process & MSME Classification PDF
MSME Registration is free, paperless, and based on self-declaration
- The MSME registration process is fully online, paperless, and based on self-declaration.
- No documents or proof are required to be uploaded for registering an MSME.
- Only Adhaar Number will be enough for registration.
- PAN & GST linked details on investment and turnover of enterprises will be taken automatically from Government databases.
- Our online system will be fully integrated with Income Tax and GSTIN systems.
- Having PAN & GST number is mandatory from 01.04.2021.
- Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME will have to re-register themselves.
- No enterprise shall file more than one Udyam Registration. However, any number of activities including manufacturing or service or both may be specified or added in one Registration.
Instructions For Existing Enterprises
- All existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st day of July 2020.
- All enterprises registered till 30th June 2020, shall be reclassified in accordance with this notification.
- The existing enterprises registered prior to 30th June 2020, shall continue to be valid only for a period up to the 31st day of December 2021.
- An enterprise registered with any other organization under the Ministry of Micro, Small, and Medium Enterprises shall register itself under Udyam Registration.
Register a Micro, Small and Medium Enterprise
- Any person who intends to establish a micro, small, or medium enterprise may file Udyam Registration online in the Udyam Registration portal, based on self-declaration with no requirement to upload documents, papers, certificates, or proof.
- On registration, an enterprise (referred to as “Udyam” in the Udyam Registration portal) will be assigned a permanent identification number to be known as “‘Udyam Registration Number”.
- An e-certificate, namely, the “Udyam Registration Certificate” shall be issued upon completion of the registration process.
You can download Udyam Registration Process & MSME Classification PDF by clicking on the following download button.