Udyam Registration For Proprietor

Udyam Registration For Proprietor

There are different provisions in India for business registration. Udyam registration for proprietor firms is one of the most seen and popular forms in business types in our country.

In India, if you are looking for proprietor business registration under Udyam then click here: Proprietor Business Registration.

The Ministry of the Micro, Small, and Medium Enterprises MSME, Government of India, has introduced a new process of classification and registration of MSME Enterprises under the name of ‘Udyam Registration’ on July 01, 2020.

And as per the Ministry of the Micro, Small, and Medium Enterprises, every enterprise unit previously registered under MSME / Udyog Aadhaar shall be treated as a valid MSME up to 31st March 2021.

Any Proprietor business who intends to establish a micro, small or medium enterprise - MSME may file Udyam Registration online in the Udyam Gov portal.

Udyam Registration portal is a single-window portal, on self-declaration with no documents required to upload, papers, certificates, or proof.

And all the existing MSME enterprises and businesses must re-register/convert to Udyam on or before 31st March 2021 to enjoy the MSME Benefits.

What is Udyam Registration and When was it established?

Udyam Registration is a new single window, quick and easy online process for enterprises form registration under the Ministry of Micro, Small, and Medium Enterprises.

The new MSME registration process is fully self-declaration, paperless portal, where to no documents. The new MSME registration portal is known as the Udyam registration portal.

After the registration, registered business enterprises are given a permanent identification registration number ie is known as Udyam registration number (URN), and the online certificate (e-certificate) is known as the Udyam registration certificate.

The Udyam registration process was established on July 1, 2020. Any small scale (Proprietor) enterprise can do the registration process under the Ministry of MSME through this Udyam portal.

Benefits of Udyam Registration for Proprietor

There are many benefits for a Proprietor for registering under Udyam. The Government of India is focusing on the growth of small-medium enterprises. A few of the Udyam benefits are listed below.

  1. Udyam registration helps in getting Government tenders
  2. Helps in getting low-Interest rate subsidy on bank loans
  3. 15% import subsidy on fully automatic machinery on bank loans
  4. Registered Udyam MSME, the enterprise gets tariff subsidies
  5. Collateral free loans from financial institutes and banks
  6. Protection against delayed payments
  7. Exceptional beneficial reservation policies in the production/ manufacturing sector
  8. Ease of obtaining registrations, licenses and approvals.
  9. Udyam Registered enterprise gets eligible for CLCSS (credit linked capital subsidy scheme)
  10. International trade fair special consideration
  11. Electricity bills concession
  12. Stamp duty and registration fees waiver
  13. Compensation on ISO certification
  14. Direct tax laws rules exemption
  15. NSIC performance and credit rating fees subsidy
  16. Patent registration subsidy
  17. Barcode registration subsidy
  18. Industrial Promotion Subsidy (IPS) Subsidy Eligibility

New Revised Definition of MSME

Earlier, the MSMEs were defined on the basis of investments only, now the newly revised definitions will also include both turnover and investment of the company.

New Criteria for Classification of MSME - Micro, Small And Medium Enterprises

An enterprise will now be classified as a Micro, Small and Medium Enterprises on the basis of the following new criteria mentioned below:

Enterprises Investment in plant & machinery/equipment
Micro Enterprises The investment in plant & machinery/ equipment does not exceed Rs 1 Cr and turnover does not exceed Rs 5 Cr.
Small Enterprises The investment in plant & machinery/ equipment does not exceed Rs 10 Cr and turnover does not exceed Rs 50 Cr.
Medium Enterprises The investment in plant & machinery/ equipment does not exceed Rs 50 Cr and turnover does not exceed Rs 250 Cr.

Documents required for Udyam Registration for Proprietor

These are the important documents that are required for Udyam registration on the government portal:

  1. Proprietor Aadhaar Number
  2. PAN Number
  3. GSTIN Number

Key Highlight of Udyam Registration

  1. Fully online process Aadhaar OTP based system
  2. It is a single-window registration portal
  3. No documents need to be uploaded
  4. No official Registration Fees, No Hidden Charges, No Bribe
  5. On Submission, instant registration no. is generated
  6. Udyam Registration Certificate (URC) will have a dynamic QR Code
  7. Lifetime Valid certificate
  8. No renewal of Registration
  9. Any enterprise can file Udyam Registration only once
  10. With one Aadhaar Number, only one registration is possible
  11. Enterprises who have Entrepreneur Memorandum or Udyog Aadhaar Memorandum registration certificate or any other registration issued by under the Ministry of MSME will also have to re-register themselves

Proprietor Business can Apply for Udyam Registration Today!

After going through this article, you must have gained some information on Udyam registration, and its significance of having a Udyam Registration Certificate for your proprietor business.

The business registration under Udyam online process is very easy, with no additional fees, and non-complicated as the only legal document required to register a trade under UDYAM is the Aadhaar card, PAN card and GSTIN which makes the process extremely fast.

Just fill the online Udyam application form carefully and avoid any mistakes. An e-certificate - Udyam registration certificate makes sure that the business firm utilizes all the benefits of the government provides to MSMEs.

You can visit https://msmeregistrar.net/ for getting your proprietor business registered under Udyam, professional Udyam registration service work @ low fees.

There is an enquiry form hosted on the website msmeregistrar.net, if you need any help you may submit your contact details & our experts will call you back.

Tags udyam registration proprietor, udhyam registration, udyog aadhaar for proprietor , re-registration of udyog into udyam, udyam registration process for proprietor, documents required for proprietor busniess registration

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