Udyam registration was created to make the process of registering a firm as a micro small and medium enterprise easier for business owner.
Prior to this the procedure was a time consuming and lengthy bureaucratic process that necessitated a great deal of documentation.
However thing have altered since the previous system was replaced.
So if you run a medium, small and micro enterprise and have yet to register it with udyam you should do so as soon as possible to reap the many benefit.
What is udyam registration and how does it work?
What is udyam registration the key question that many new entrepreneur have? You have come to the right spot if you have a similar query.
Udyam registration is a new method of msme registration online introduced by the ministry of micro, small and medium enterprise starting 1st of july, 2020 according to a ministry of micro, small and medium enterprise announcement dated 26th of june, 2020. Udyam registration commonly known as micro, small and medium enterprise registration is a government issued certificate of recognition that include a 16 digit alphanumeric registration number. The government major motive for creating this facility was to provide it way to identify micro, small and medium enterprise firm and provide them with the best possible benefit in order to support the atma nirbhar bharat abhiyan as well as self reliant india scheme of 2020.
Paperless registration and self declaration are both possible with the udyam registration portal. All current firm registered under entrepreneur memorandum part two and udyog aadhaar memorandum must re register on the udyam registration portal on and after 1st of july, 2020.
Suggested read udyog aadhaar print download.
To register with udyam your company must be an micro, small and medium enterprise so let us look at what that mean and how it is classified.
What is micro, small and medium enterprise ?
The micro, small and medium enterprise development act of 2006 was passed by the indian government and formed micro, small and medium enterprise. These company specialize in the production as well as processing and storage of item and commodity.
Registration process for udyam.
The registration procedure is straightforward as is the form filling procedure.
Thing are much more straightforward and efficient today. The following is a step by step guide to the procedure.
Go to the official website and register for udyam.
Fill up the blank with your personal information
The first data you will need to provide is your name and your 12 digit unique aadhar number. From the drop down option choose validate and generate one time password. An one time password will be sent to your registered mobile number. The one time password must be entered.
Verification of the permanent account number.
After selecting the type of business you wish to create enter your permanent account number and click validate.
Entering correspondence information.
After filling out all of the aforementioned information the next piece of information you will need to supply is the company postal address. Your company district and pin code as well as state and email address and phone number are also included.
Fill up the bank information.
You will need to provide the active bank account number for your company as well as the international financial system code for the branch in question. If you do not know the international financial system code for the branch in question you can look it out on the bank website.
From the service and manufacturing category you must identify your company principal business. Activity must contain the total number of people employed as well as the national industry classification code.
After you have filled out all of the details the last step is to input the total amount of money you have invested in your machinery and plant.
Accept the declaration and choose the district industry center.
In the final step of this process you will select the district industry center from a drop down menu. Then by clicking submit and get final one time password you must approve the declaration.
Hit the final submit button after entering the one time password that was provided to your phone.
When you click the submit and get final one time password button you will be issued a registration number. An electronic registration document will be sent to your electronic mail address.
Also read udyog aadhaar print.
Document required for udyam registration?
The micro, small and medium enterprise registration procedure is entirely online without the use of paper and is based on self declaration.
An micro, small and medium enterprise does not require any paper and documentation to be registered.
Only the aadhaar number will be sufficient for registration.
Data on business investment and turnover as well as permanent account number and goods service tax related data would be automatically obtained from government database.
A permanent account number and a goods service tax number will be necessary from 1st of april, 2021.