Udyam Registration: New process for MSME registration launched

Udyam Registration:  A new process of classification and registration of MSME Enterprises was launched on July 1, 2020 under the name of ‘Udyam registration’. The Union Ministry of Micro, Small and Medium Enterprises (MSME) had made the announcement regarding the same through a notification on June 26. 

The MSME Ministry launched a new portal for Udyam Registration- www.udyamregistration.gov.in. The portal will help guide the s the entrepreneurs step by step as to what they should know, what they should do.

How to register MSME using Udyam Registration Portal?

The new MSME registration process is completely online, paperless and based on self-declaration. No documents or proofs are required to be uploaded for registering an MSME.

What will be required for Udyam Registration?

The user will need to provide their 12-digit biometric Aadhaar number for the registration process. 

Key Highlights 

•  A registration number will be given after completion of the entire process and Udyam Registration Certificate will be issued.

•  The Udyam Registration Certificate will have a dynamic QR Code from which the web page on the Portal and details about the enterprise can be accessed. There will be no need for renewal of the registration.

•  The PAN & GST linked details on investment and turnover of enterprises will be taken automatically from the respective Government databases.

•  The MSME Ministry's online system will be fully integrated with Income Tax and GSTIN systems.

•  The MSMEs that have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME, will also have to re-register themselves on the portal. 

•  No enterprise will be allowed to file more than one Udyam Registration. Any number of activities including manufacturing or service or both may be specified or added under one Registration.

•  The government’s facilitated mechanism - single window systems at Champions Control Rooms and DICs will help people in this process.

•  The registration process will be completely free of cost, no fees will be required to be paid for the same.

Udyam Registration Benefit 

According to the MSME Ministry, the new MSME registration process will be extremely simple, seamless and entrepreneur-friendly. It will also help set an example in Ease of Doing Business, not only in India but internationally as well. It will also reduce transaction time and costs and the entrepreneurs and enterprises will be able to focus on their real work and become globally competitive.