The Udyam Registration is a new process introduced by the Union Ministry of Micro, Small and Medium Enterprises (MSME) on July 01, 2020 for the classification and registration of MSME enterprises.
The government has decided to treat all enterprises, regardless of whether they are in the manufacturing or service sector, the same. The only difference now is based on investment and turnover. Any new or existing venture can have Udyam registration according to the table above.
Enterprises types for registration
Below mentioned are the enterprise types for registration that are applicable to service sectors as well as other firms. They are:-
Micro Enterprises – For those firms having a turnover between Rs 1 Cr and up to a maximum of Rs 5 Cr
Small Enterprises – For those firms having a turnover between Rs 10 Cr and up to a maximum of Rs 50 Cr
Medium Enterprises – For those firms having a turnover between Rs 50 Cr and up to a maximum of Rs 250 Cr
Details about the registration process
Anyone who is planning to start a micro, small or medium enterprise can apply for Udyam registration on the scheme’s official portal. The entire process is based on self-declaration, so you don’t have to upload any documents. Once you complete the process, you will receive a virtual certification known as an Udyam registration certificate. This certificate will have your permanent Udyam registration number on it.
All units that have GSTIN (Goods and Services Tax Identification Number) given against one PAN number will be treated as one for investment and turnover calculation purposes.
The self-declaration is valid only till the 31st of March 2021. From that day, GSTIN is a must.
You can find the Udyam registration form on its official portal. There is no registration fee for the process. You will need your Aadhaar number. Follow the instructions on the portal. If the venture is a limited liability partnership, trust or a society, you will need to provide the details of the authorized dignitary’s Aadhaar and GSTIN.
If the venture registers with its PAN number, a self-declaration will suffice if there is insufficient information.
Each venture is only allowed one Udyam registration.
Udyam Registration Steps
Step 1: Go to the official website – https://udyamregistration.gov.in/
Step 2: Enter your personal information –
Step 3: Verification of PAN
Step 4: Add Details of Correspondence is the next step
Step 5: Fill up the Bank Details
Step 6: Details of the Enterprise
Step 7: Choose the DIC or District Industry Center and approve the Declaration