On June 26, 2021, the central government issued new regulations allowing for online registration of new businesses based on self-declaration. There would be no need to upload any documents or certificates for Udyam Registration from July 1, 2021. People can now use their Aadhar number and self-declaration to register a new business online. The Udyam Registration process has been connected with the Income Tax and GST systems by the Union government. On the basis of the PAN number or GST IN details, the filled-in enterprise details can be simply validated.
An Aadhaar number is all that is required to register a business. Rather than downloading or submitting papers, further information might be provided through self-declaration. As a result, it’s a completely paperless process. Beginning July 1, an MSME will be referred to as a “Udyam,” which is more directly related to the term “company,” according to the announcement. As a result, Udyam Registration will be used to refer to the registration process.
From then on, MSMEs are classified based on their investment in plant and machinery or equipment, as well as their turnover. The announcement also specifies that when measuring the turnover of any business, whether micro, small, or medium, exports of products or services, or both, are to be eliminated.
Udyam Online Registration – How to Apply Online
On June 1, 2021, the MSME Ministry announced new criteria for classifying MSMEs based on investment and turnover. The MSME Ministry issued a thorough notification clarifying the classification requirements for MSMEs on June 26, 2021. The notification also detailed the registration method and the provisions taken by the ministry to make the process easier.
For new entrepreneurs who have not yet been registered as an MSME or who have EM-II status
The following is the step-by-step procedure for new entrepreneurs who are not yet registered as MSMEs or have EM-II to apply for Udyam Registration online:-
Step 1: To begin, go to the official Udyam Online Registration Portal.
Step 2: Click the “For New Entrepreneurs who are not yet Registered as MSME or those with EM-II” tab on the homepage, as seen below: –
New Entrepreneurs Apply Online for MSME Udyam Registration
Step 3: The Udyam Registration Form For New Enterprises that are not yet registered as MSME will open when you click this link, as indicated below: –
Udyam Registration Form for a New Business
Step 4: The entrepreneur’s aadhaar number and name, which are necessary for Udyam Registration, can be entered here.
Step 5: An OTP will be delivered to the Aadhar card’s registered mobile number. To validate the mobile number, enter the OTP that was sent to you.
Step 6 : After that, select the type of business, enter your PAN number, confirm your PAN card, and complete the rest of the application form as follows: –
Online Udyam Registration Application Form New Entrepreneurs MSMEs
Step 7: Fill in the remaining details in this form, submit it, and log in to finish the Udyam application procedure for new entrepreneurs.
For individuals who have already registered as UAM, migrate to Udyam (re-register)
After July 1, 2020, all existing UAM-registered businesses must re-register on the Udyam Registration Online Portal. Existing businesses that were registered before June 30, 2021 will have their registrations extended until December 31, 2021. For those who have already registered as UAM, the following is the whole process to make Udyam Registration at the Udyam Registration Online Portal:-
Step 1: Visit the official website for more information.
Step 2: Under the ‘Migrate to Udyam (Re-Register) Here’ section on the homepage, click the “For those already having registration as UAM” link.
Step 3: The Udyam Registration Form for existing entrepreneurs who have already registered as UAM will appear after visiting this link, as illustrated below: –
Already have an Udyam Registration Form
Step 4: Applicants can use this page to submit their Udyog Aadhaar number and confirm their OTP via phone or email, as specified in the application. To complete the online application process, fill out the remaining application form.
Furthermore, each business can only have one Udyam Registration at the Udyam Registration Online Portal, and it can include any number of activities in that registration.
What is Udyam Registration in terms of business registration?
Under the MSME Act 2006, Udyam Registration is a new type of registration. This procedure was previously called MSME Registration/Udyog Aadhar Registration. All existing Udyog Aadhar holders, as well as Virtual Auditor, give end-to-end support in transactions related to the new udyam registration programme, ensuring compliance.
Information updates and a categorization changeover period
On a self-declaration basis, an organisation with an Udyam Registration Number must update its information online in the Udyam Registration site, including the contents of the preceding financial year’s ITR and GST Return, as well as any other supplementary information that may be required. If the essential information is not updated within the time frame indicated in the online Udyam Registration site, the enterprise’s status will be suspended. Ministry of Small and Medium Enterprises video The definition and method under the Micro, Small and Medium Enterprises Development Act, 2006, as amended by Notification No. S.O.2119 (E) dated June 26, 2021, have been modified under the MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES.
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