UDYAM REGISTRATION
| Basic | Advance |
|---|---|
| ✔ MSME Certificate | ✔ MSME Certificate |
| ✔ Professional Consultancy |
Udyam Registration in India
Complete Guide to Udyam Registration in India
Introduction to Udyam Registration
Welcome to the world of Udyam Registration, a significant initiative by the Government of India aimed at simplifying the process for Micro, Small, and Medium Enterprises (MSMEs). Launched on July 1, 2020, by the Ministry of Micro, Small & Medium Enterprises, Udyam Registration replaces the previous Udyog Aadhaar registration system. This new system is designed to provide MSMEs with a unique identification number and a certificate of recognition, streamlining access to various government schemes, subsidies, and credit facilities.
What is Udyam Registration?
Udyam Registration is a government registration process that grants MSMEs a unique identification number and an official certificate. This registration is essential for MSMEs to avail benefits offered under various government schemes, such as the Credit Guarantee Scheme, public procurement policy, and protection against delayed payments.
Benefits of Udyam Registration
Registering your business under the Udyam scheme comes with numerous advantages, including:
- Special Preference in Government Tenders: Udyam-registered enterprises receive a higher preference in procuring government tenders.
- Collateral-Free Loans: Enjoy the benefit of securing bank loans without collateral or mortgage.
- Interest Rate Exemptions: Avail a 1% exemption on the interest rate for bank overdrafts.
- Tax Rebates: Benefit from various tax rebates available for Udyam-registered enterprises.
- Government Licenses and Certifications: Gain higher preference for obtaining government licenses and certifications.
- Subsidies: Receive tariff subsidies, tax subsidies, and capital subsidies.
- Utility Bill Concessions: Enjoy concessions in electricity bills for your business.
- Protection Against Payment Delays: Get protection against delays in payments from buyers.
- Trademark and Patent Discounts: Avail a 50% discount on government fees for trademark and patent filings.
- Quick Dispute Resolution: Benefit from faster resolution of disputes.
Eligibility Criteria for Udyam Registration
Any individual or business entity looking to establish a micro, small, or medium enterprise can apply for Udyam Registration. This includes:
- Proprietorships
- Hindu Undivided Families (HUF)
- Partnership Firms
- One Person Companies (OPC)
- Private Limited Companies
- Limited Companies
- Producer Companies
- Limited Liability Partnerships (LLP)
- Associations of Persons
- Cooperative Societies
- Any other undertaking
Revised MSME Definition
The Atmanirbhar Bharat package, announced on May 13, 2020, revised the definition of MSMEs to include updated investment and turnover limits:
- Micro Enterprises: Investment up to ₹1 crore and turnover up to ₹5 crores.
- Small Enterprises: Investment up to ₹10 crores and turnover up to ₹50 crores.
- Medium Enterprises: Investment up to ₹50 crores and turnover up to ₹250 crores.
How to Register for Udyam Online
Step-by-Step Procedure
- Visit the Official Portal: Go to the official Udyam Registration portal udyamregistration.gov.in.
- Enter Aadhaar and PAN: Provide the Aadhaar number of the proprietor, partner, or authorized signatory and the PAN of the enterprise.
- Fill in the Details: Complete the form with details such as the name of the enterprise, type of organization, bank details, NIC code, and the number of employees.
- Receive Udyam Registration Number: After successful registration, you will receive a Udyam Registration Number and can download the Udyam Registration Certificate.
Key Points to Remember
- Permanent Registration Number: A permanent registration number will be issued immediately after registration.
- No Renewal Needed: The Udyam Registration Number is permanent and does not require renewal.
- Certificate with QR Code: An Udyam Registration Certificate with a dynamic QR Code will be issued, providing easy access to the enterprise’s details.
Importance of Udyam Registration
Udyam Registration is crucial for MSMEs to access various government schemes and incentives designed to support their growth and development. It simplifies the process of securing loans, obtaining licenses, and participating in government tenders, ultimately enhancing the competitiveness of MSMEs in the market.
Compliance and Maintenance
Once registered, it is important to maintain compliance with the Udyam Registration regulations. This includes updating any changes in business details and adhering to the guidelines set by the Ministry of Micro, Small & Medium Enterprises.
Conclusion
Udyam Registration is a game-changer for MSMEs in India, offering a streamlined process to access numerous benefits and incentives. By registering your business, you can unlock opportunities for growth, efficiency, and competitive advantage.
Ready to get started? Visit the official Udyam Registration portal today and take the first step towards transforming your business.
For personalized assistance and expert guidance, contact Bharat Filing Point at info@bharatfilingpoint.com or visit our website www.bharatfilingpoint.com. We are here to help you every step of the way!
Documents Required Udyam Registration vs FSSAI vs APEDA vs 80G & 12A vs IEC vs DSC
| FEATURES | Udyam Registration | FSSAI | APEDA | 80G & 12A | IEC | DSC |
|---|---|---|---|---|---|---|
| DOCUMENTS | Aadhaar Card, PAN Card, Bank Account Details, Business Address Proof, Details of Major Business Activities, GSTIN. | Form A Photo ID Proof Address Proof, Food Safety Management Plan, Declaration Form, Authority Letter, Photo identity of promoters of the food business, Form B, Blueprint/layout plan of the processing unit. | APEDA Enrollment Application Form, Bank Certificate, Import-Export Code (IEC), Company’s Bank Statements, Self-Certified Copy of Import-Export Code, Self-Attested Copy of the Firm’s Incorporation, Details of Registered Office, Head Office, and Branch Office, Duly Signed and Sealed Copy of Application Form. | NGO/Trust PAN Card, Registration Certificate, Bye-Laws/Memorandum of Association (MoA), Trust Deed (for Trusts), Audit Reports, KYC Documents, List of Welfare Activities, Details of Board Members, Donor List, Books of Accounts & Income Tax Return Documents. | Proof of Registration, Address Proof, Proof of the Firm’s Bank Account, Digital Signature Certificate (DSC), PAN Card, Identity Proof, Proof of Constitution of Business, if any - Additional Documents. | Aadhaar (eKYC Service), Telephone Bill, Electricity Bill, Water Bill, Gas connection, Bank Statements signed by the bank, Service Tax/VAT Tax/Sales Tax registration certificate, Driving License (DL)/ Registration certificate (RC). |
| Time | 2-5 working days | 15-60 working days | 4-7 working days | 12-22 working days | 10-15 working days | 3-7 working days |
Documents Required for Udyam Registration in India
The documents required for Udyam Registration in India are as follows:
- Aadhaar Number: The Aadhaar number is required for the Udyam Registration of the proprietor in the case of a proprietorship firm, managing partner in the case of a partnership firm, Karta in the case of a Hindu Undivided Family (HUF), and authorized signatory in the case of a company or Limited Liability Partnership (LLP) or cooperative society or society or trust.
- PAN Card: The PAN card of the proprietor or managing partner or Karta or authorized signatory is required for Udyam Registration.
- GSTIN: If the enterprise is a GST-registered business, the GSTIN is required for Udyam Registration.
- Proof of Business Address: Proof of the registered address of the business is required, which could be a rent agreement, electricity bill, or property tax receipt.
- Bank Statement: A bank statement from the business’s current account for the past 6 months is required as proof of the business’s financial transactions.
- Certificate of Incorporation or Partnership Deed: If the business is a registered company or LLP, a certificate of incorporation or partnership deed is required for Udyam Registration.
- No Objection Certificate (NOC) from Landlord: If the business operates from a rented property, a No Objection Certificate (NOC) from the landlord is required for Udyam Registration.
- Details of Major Business Activities: A brief description of the business operations with NIC codes is required for Udyam Registration.
- Details of Business Turnover: Details of the business turnover based on the MSME definition are required for Udyam Registration.
- Investment Details: Details of the investment in plant or machinery that the enterprise owns are required for Udyam Registration.
- Copies of Licenses and Bills of the Machinery: Copies of licenses and bills of the machinery are required for Udyam Registration.
- Copies of Bills of Sales and Purchase: Copies of bills of sales and purchase are required for Udyam Registration.
It is important to note that the Udyam Registration process is entirely online and does not require the uploading of any documents. However, the Aadhaar and PAN number of the entrepreneur is required to be entered in the Udyamregistration.gov.in – Government Portal.
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Udyam Registration FAQ’s
Who is eligible for Udyog Aadhar?
What is Udyog Aadhar Benefits?
What is NIC code for Udyam Enlistment?
The NIC code is a business code that is given by the public authority to follow the business procedures for the association under the miniature, little and medium endeavors.
What number of NIC codes can one add to NIC enlistment?
One can add a limit of 10 NIC codes for Udyam enlistment.
What is the Udyam Enlistment?
Udyam enlistment is the most recent Enrollment methodology for the Miniature, Little, and Medium Ventures (MSME), sent off on July 1, 2020, by the public authority to facilitate the enrollment cycle.
Who is qualified for Udyam enlistment?
Anybody expecting to lay out miniature, little, or medium venture might apply on the web. for Udyam enlistment.
Anyone wishing to establish a micro, small, or medium enterprise can apply for Udyam Registration.