The government has introduced the new Udyam Registration to replace the older MSME and Udyog Aadhar registrations from July 1, 2020 onwards. Organizations which are engaged either in manufacturing or production or processing or preservation of Goods OR in the providing or rendering of services are eligible for registration under the new Udyam Registration. In other words, the enterprises which are engaging only in trading i.e. buying, selling importing, exporting of Goods are not eligible for applying for Udyam Registration.
Any person who intends to establish a micro, small or medium enterprise may file Udyam Registration online. The application is based on self-declaration with no requirement to upload documents, papers, certificates or proof. However, the registering person needs to provide certain details regarding the business like investment value, nature of business among others.
On registration, an enterprise will be assigned a permanent identity number to be known as “Udyam Registration Number”. An e-certificate, namely, “Udyam Registration Certificate” shall be issued on completion of the registration process. Aadhar Number is required to initiate the registration process as below:
Step 1: Complete our MSME Form/SSI Form
Step 2: Preparations of Documents
Step 3: Filling MSME/SSI Application
Step 4: Complete
No documents are required to be uploaded on the Govt. portal as part of the registration process. However, an enterprise will be required to provide the following details for Udyam Registration application. The details required shall be as below:
Some of the benefits available post registrations under Udyam are summarized below. Apart from those listed below, there are many other benefits provided by the different govt. bodies for specific industries.
With the recent thrust on development of MSMEs by Govt of India, registration under Udyam has become very important. The primary reason is the ability to avail the benefits being provided by the Govt.