Udyam Registration, Process, Documents Required & Benefits

Udyam Registration, Process, Documents Required & Benefits

The Udyam registration is a completely online process for a business, companies, and enterprise that intends to establish micro, small, or medium enterprises. It is a new declaration of Indian Government to boost for SSI and SMEs in the country and below we detail the entire process of registration for the same.

  1. What is Udyam?
  2. What is Udyam Registration?
  3. What is Udyam Registration Certificate?
  4. Why Udyam Registration and how can you apply for it?
  5. URN (Udyam Registration Number)
  6. Meaning of Udyam
  7. Udyam Registration Process
  8. Documents Required for Udyam Registration
  9. Benefits of Udyam Registration
  10. Udyam Registration Due Date
  11. New Definition of MSME under Udyam

What is Udyam?

Any business, company, and enterprise, who has successfully registered under the Ministry of Micro, Small, and Medium Enterprise, referred to as ―Udyam in the Udyam Registration portal.

What is Udyam Registration?

Udyam registration is an online registration for micro, small-medium enterprises provided by the Indian government. The Indian ministry of Micro, Small, and Medium Enterprise changed the name of MSME Udyog Aadhar Registration as Udyam Registration. Aadhaar number is mandatory for Udyam Registration.

What is Udyam Registration Certificate?

Udyam Registration Certificate is an e-certificate, which is being issued on completion of the registration process.

Why Udyam Registration and how can you apply for it?

Earlier individuals who started a new business and get MSME registration or SSI registration or Udyog Aadhaar registration they had to go through a lot of paperwork procedures and they had to run after various government departments.

Now, things became simple and easy the Indian Government declared Udyam registration which is the one-stop solution for all. Just fill this online form to register.

A small scale business registered with the Udyam becomes eligible to receive the benefits of several government schemes such as subsidies, easy loan approvals, and many more.

Any business owner who wants to register under micro, small or medium enterprise should register for Udyam Registration online in the Udyam Registration portal, based on self-declaration with few requirements.

The Udyam Registration process for any individual is a very simple, fast, and easy online procedure for all units which are eligible to get covered under the new definition of MSME's provided by the GOVERNMENT OF INDIA.

Every Startup and MSME Companies get the benefit from the various schemes launched by Government by getting themselves registered under New MSME Legislations.

eudyogaadhaar.org will register you as a Udyam Company very easily. This Udyam Registration will give you more benefits to enjoy Government Schemes.

URN (Udyam Registration Number)

On registration, a business, company, or enterprise referred to as ―Udyam. The Indian Government of Micro, Small, and Medium Enterprise - Udyam Registration Official portal will be assigned a permanent identification number to be known as ― Udyam Registration Number.

Meaning of Udyam

The Government announced a new notification which says that from July 01, 2020, an MSME will be known as Udyam, and the online enrolment or the registration process will be known Udyam Enrollment Registration.

Udyam Registration Process

The process for Udyam Registration is simple and easy to follow.

Step 1: Visit Udyam Registration Portal.

Step 2: Fill all the details on Udyam Registration Form. Make sure you enter all the details correctly.

Step 3: Make the online payment for your Udyam registration Application.

Step 4: One of the registration executives will process your Udyam registration process application.

Step 5: In 1-2 hr you will receive your Udyam registration certificate on your registered email address.

Documents Required for Udyam Registration

  1. Aadhaar number is required for Udyam Registration.

  2. The Aadhaar number shall be of the proprietor in the case of a proprietorship firm, of the managing partner in the case of a partnership firm and of a Karta in the case of a Hindu Undivided Family (HUF).

  3. In the case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, the organization or its authorized signatory shall provide its GSTIN and PAN along with its Aadhaar number.

  4. In case an enterprise is duly registered as an Udyam with PAN, any deficiency of information for previous years when it did not have PAN shall be filled up on a self-declaration basis.

Benefits of Udyam Registration

There are many benefits of Udyam Registration, avail government benefits/ MSME/ Subsidies/ Low-Interest Loans/ Collateral Free Loans, etc just registering under the new Udyam scheme.

  1. Direct tax laws rules exemption
  2. Patent registration subsidy
  3. Industrial Promotion Subsidy (IPS) Subsidy Eligibility
  4. Interest rate Subsidy on Bank loans
  5. Collateral free loans from banks
  6. Protection against delayed payments, against material/services supplied
  7. Special beneficial reservation policies in the manufacturing/ production sector
  8. Ease of obtaining registrations, licenses and approvals.
  9. Msme Registered entity gets eligible for CLCSS (credit linked capital subsidy scheme)
  10. International trade fair special consideration
  11. Government security deposit (EMD) waiver (Useful while participating tenders)
  12. Electricity bills concession
  13. Stamp duty and registration fees waiver
  14. ISO certification fees reimbursement
  15. NSIC performance and credit rating fees subsidy
  16. Barcode registration subsidy

Udyam Registration Due Date

As per the Indian Government latest notification dated 26.06.2020, all existing (old and new) MSME companies must register /convert to new Udyam immediately. As per the new Government law, every business unit registered under MSME / Udyog Aadhaar / SSI shall be treated as a valid MSME upto 31st March 2021 only. Thereafter the existing (old and new) MSME Business, Companies and Enterprises must transform to Udyam Registered Company on or before 31st Mar 2021 to enjoy the Udyam Benefits.

New Definition of MSME under Udyam

Micro units :

Now MSMEs will be called Micro units, if they investments upto ₹ 1 crore and turnover of less than ₹ 5 crores.

The definition earlier was on investment criteria of up to ₹ 10 lakhs for Service MSMEs earlier and ₹ 25 lakh or manufacturing.

Small units :

For an MSME to be defined as a Small unit, its investment limit has been raised from ₹ 5 crore to ₹ 10 crores with a turnover of less than ₹ 50 crore.

This applies to all MSMEs including the Service enterprises which earlier came under investment of up to ₹ 2 crores.

Medium units :

Enterprises with investments up to ₹ 50 crores with a turnover of less than ₹ 250 crores will now be called Medium units.

Earlier, the investment limit for Medium units was up to ₹ 10 crore and Service enterprises up to ₹ 5 crores.

Enterprise Turnover Investment
Micro Not more than 5 Cr. Not more than 1 Cr.
Small Not more than 50 Cr. Not more than 10 Cr.
Medium Not more than 250 Cr. Not more than 50 Cr.

With successful registered businesses in the Micro, Small, and Medium Enterprise sector, the industry is moving towards becoming organized and systematized with maximum benefits for the entrepreneurs. So the Government is coming up with new reforms and schemes to encourage startup businesses in India.

If you need further help, talk to our Udyam registration expert. You can just fill the Udyam registration form @ eudyogaadhaar.org to avail all the government benefits.

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