Udyam Registration is a type of government registration that is provided along with a certificate of recognition and a unique number for MSME certification and is therefore also called MSME Registration. Udyam Registration's main objective is to simplify the time-consuming and complex process of registering any enterprise under Micro, Medium, and Small Enterprise (MSME). Any form of an agency such as an LLP or a private limited company can be registered with the Udyam portal.
You can file Udyam Registration online through the Udyam Registration Portal - msmeregistrar.net.Once the registration has been done, a permanent identification number and e-certificate will be issued, respectively identified as 'Udyam Registration Number' and 'Udyam Registration Certificate.
The MSME Ministry offers various advantages for the growth of MSMEs and businesses with Udyam Registrations may also take advantage of these. Several of the advantages include lower bank interest rates, qualifying for IPS subsidy, electricity bill concession, exemptions under Direct Tax Laws, simpler license verification and acceptance, payment delay protection, etc.
The Registration process for Udyam is quick and easy to follow.
Step 1: Access the website of the Udyam Registration.
Step 2: Fill out all Udyam Registration Forms. Be sure all of the details are entered correctly.
Step 3: Make the Udyam Application payments online.
Step 4: Your Udyam application will be processed by one of the Registration Executives.
Step 5: You should obtain the Udyam certificate on your registered email address within 2 hours.
Exports of goods or services, or both, are excluded for classification purposes when calculating the turnover of any enterprise, whether micro, small or medium.
The information relating to an enterprise's turnover and export turnover is linked to the Income Tax Act or the CGST Act and the GSTIN.
The turnover-related estimates of those businesses which do not have PAN shall be regarded on the basis of self-declaration for a duration up to 31 March 2021 and, thereafter, PAN and GSTIN shall be needed.
There are also some guidelines for registration of the current enterprise. All these are listed below.
If you have any queries or doubts regarding Udyam, talk to the Udyam registration expert. You can just fill the Udyam Registration Form @ msmeregistrar.net and our team will get in touch with you.