Thursday, July 18, 2024

How to Complete Udyam Registration: A Step-by-Step Guide

Must read

I am udyamregister (udyamregistartion@gmail.com). I hold full responsibility for this content, which includes text, images, links, and files. The website administrator and team cannot be held accountable for this content. If there is anything you need to discuss, you can reach out to me via udyamregistartion@gmail.com email.

Disclaimer: The domain owner, admin and website staff of New York City US, had no role in the preparation of this post. New York City US, does not accept liability for any loss or damages caused by the use of any links, images, texts, files, or products, nor do we endorse any content posted in this website.

The Udyam Registration process, previously known as Udyog Aadhaar, is a government initiative to simplify the registration process for Micro, Small, and Medium Enterprises (MSMEs) in India. This process is entirely online and free of cost, aimed at promoting ease of doing business. Below is a comprehensive, step-by-step guide on how to complete the Udyam Registration and update udyam certificate.

What is Udyam Registration?

Udyam Registration is a certification provided by the Ministry of Micro, Small, and Medium Enterprises (MSME) for businesses operating in this sector. This registration is crucial as it provides numerous benefits, including easier access to loans, subsidies, and other government schemes. It also helps in gaining credibility and recognition.

Who Can Apply?

Any business that falls under the MSME category can apply for Udyam Registration. The classification is based on investment in plant and machinery or equipment and turnover:

  • Micro Enterprises: Investment up to ₹1 crore and turnover up to ₹5 crore.
  • Small Enterprises: Investment up to ₹10 crore and turnover up to ₹50 crore.
  • Medium Enterprises: Investment up to ₹50 crore and turnover up to ₹250 crore.

Step-by-Step Guide to Udyam Registration

Step 1: Visit the Official Udyam Registration Portal

Go to the Udyam Registration portal Ensure you have a stable internet connection and all necessary documents ready.

Step 2: Aadhaar Number

The Aadhaar number is mandatory for Udyam Registration. The proprietor’s Aadhaar number should be used for proprietorship firms. For partnership firms and Hindu Undivided Families (HUF), the managing partner and Karta’s Aadhaar number, respectively, should be used. Companies, limited liability partnerships (LLP), cooperative societies, societies, and trusts need to provide the organization’s GSTIN and PAN along with the Aadhaar number.

Step 3: Click on “For New Entrepreneurs who are not Registered yet as MSME”

On the homepage, click on the option “For New Entrepreneurs who are not Registered yet as MSME.” This will redirect you to a new page where the registration process begins.

Step 4: Enter Aadhaar Number and Name

Enter your Aadhaar number and name as mentioned on the Aadhaar card. Click on “Validate and Generate OTP.” You will receive an OTP on your registered mobile number. Enter the OTP to verify your Aadhaar details.

Step 5: PAN Verification

After Aadhaar verification, you will need to verify your PAN. Enter your PAN number and click on “Validate PAN.” The system will automatically fetch your details from the PAN database. This step is crucial for businesses that are required to file tax returns under the Income Tax Act.

Step 6: Fill in the Udyam Registration Form

Once your PAN is validated, you will be directed to the Udyam Registration form. The form requires the following details:

  • Enterprise Name: The name of your business.
  • Type of Organization: Select the appropriate type from the drop-down menu.
  • PAN Number: This should already be filled in from the previous step.
  • Location of Plant/Unit: Provide the address of the plant/unit.
  • Office Address: Provide the office address.
  • Date of Commencement: The date on which the business started.
  • Previous Registration Details: If you have previously registered under Udyog Aadhaar, provide the details.
  • Bank Details: Bank account number and IFSC code.
  • Major Activity: Select whether your business is involved in manufacturing or services.
  • NIC Code: The National Industrial Classification code relevant to your business activity. You can find the correct code by clicking on the “Click to View NIC Code” button.
  • Number of Employees: Provide the total number of employees.
  • Investment in Plant & Machinery / Equipment: Enter the amount invested in plant and machinery or equipment.
  • Turnover: Enter the annual turnover of the business.

Step 7: Submit and Generate Udyam Registration Number

After filling in all the required details, double-check the information for accuracy. Click on the “Submit and Get final OTP” button. An OTP will be sent to your registered mobile number. Enter the OTP and click on the “Final Submit” button.

Upon successful submission, a Udyam Registration Number (URN) will be generated. You will also receive an e-certificate on your registered email ID.

Benefits of Udyam Registration

  1. Easy Access to Credit: Registered MSMEs can avail themselves of easy and low-interest loans from banks and financial institutions.
  2. Government Schemes: Eligibility for various government schemes like the Credit Guarantee Fund Scheme, TReDS, and others.
  3. Subsidies and Concessions: Access to subsidies on patent registration, industrial promotion, and other areas.
  4. Protection Against Delayed Payments: MSMEs have the legal right to receive payments for goods and services within a specified time.
  5. Tax Benefits: Various tax rebates and exemptions.

Common Issues and Troubleshooting

  • Aadhaar Card Mismatch: Ensure that the details entered match exactly with the Aadhaar card.
  • OTP Not Received: Check your mobile network and ensure that the registered mobile number is active.
  • PAN Verification Failure: Double-check the PAN details and ensure that the name matches exactly with the records.
  • Browser Compatibility: Use the latest version of Chrome or Firefox for the best experience.

Conclusion

Udyam Registration is a vital step for MSMEs to avail themselves of various benefits and support provided by the government. The process is straightforward, online, and free of cost. By following the steps outlined in this guide, you can ensure a smooth udyam re- registration process, enabling your business to grow and thrive with the support of various government initiatives.

 

More articles

Trending

Latest article