Do you want to take advantage of the government’s business incentives?
You should be aware of an important modification to the MSME registration. Since MSME registration was established to help potential firms in India, the regulating authorities have proposed improvements to make the procedure more simple and straightforward.
Read this article to learn about an important update. You will also get information about the registration procedure, as well as any new criteria that have been added.
There’s no denying that the MSME certificate has several advantages for firms. The Indian government offers a variety of programs to help entrepreneurs expand their enterprises.
According to a study, since the introduction of the new online system on July 1, 2020, about 11 lakh MSMEs have registered.
There are about 9.26 lakh registration cases with a PAN number, 1.80 lakh registration cases with an outdated UAM, and 1.73 lakh registration cases for women entrepreneurs (women entrepreneurs).
Of course, the certificate received by completing the Udyam/SSI registration online is required in order to get a variety of benefits that will help you build your business. As a result, you should be informed of the most recent government developments.
Suggested Read- print udyam registration certificate
Details required for MSME/Udyam To get the MSME/Udyam certificate, you must re-register.
The following items have been added to the revised list of information:
- The name and Aadhar number of the company’s owner (as per the Aadhar Card)
- Details of your company’s previous MSME registration
- The nature of your business or organisation
- The proprietor’s or owner’s current address and bank account information.
- NIC code (National Industrial Classification)
- Total number of employees in your firm
- Details about your company’s current operations
- Contact information for the entrepreneur, such as email address, phone number, and so on.
- The entrepreneur’s PAN number and the total expenditure incurred in the business
Find out more about the New MSME registration procedure, including the paperwork you’ll need and other important details.
In India, MSME firms are really excluded from the GST. However, the application for MSME registration required a GST number (till now). However, adding a GST number to complete the application is no longer required.
The government of India has announced that the MSME registration application would no longer require a GST number, as per the new standards.
Businesses that have not yet registered for Udyog Aadhar should do so before the deadlines to be eligible for benefits from the Ministry of MSME and other government agencies.
The registration procedure is straightforward, but it is time-consuming, and you must be careful while filling up your details.
Process of Registration –
1. The registration form will be available on the Udyam Registration portal.
2. Udyam Registration will require an Aadhaar number.
3. In the case of a proprietorship firm, the Aadhaar number will be that of the proprietor, the controlling partner in the case of a partnership firm, and a Karta in the case of a Hindu Undivided Family (HUF).
4. A company, a limited liability partnership, a cooperative society, a society, or trust must supply their GSTIN and PAN, as well as their Aadhaar number if they are a company, a limited liability partnership, a cooperative society, a society, or a trust.
5. If a company is properly registered as an Udyam with a PAN, any missing information from earlier years when it did not have a PAN must be self-declared.
6. No business may file more than one Udyam Registration; however, any number of operations, including manufacturing, service, or both, may be stated or added to a single Udyam Registration.
7. Anyone who willfully misrepresents or tries to suppress self-declared facts and figures in the Udyam Registration or update procedure is subject to the punishment provided in section 27 of the Act.
We assist companies in completing the Udyam registration procedure swiftly and efficiently using our udyam registration portal. We will guide you through the process of completing the application without mistakes, based on our professional expertise and experience.