Udyam Registration Online Certificate in India

Udyam Registration online is a registration on the official website udyam registration.gov.in for micro, small and medium enterprises. On 1st July 2020, the Ministry of Micro, Small and Medium Enterprises (MSME) has changed the name and process of MSME Udyog Aadhar registration to Udyam registration.

The Union Ministry of MSMEs introduced a new process of registration and categorizing MSMEs. It is known as Udyam registration.

Earlier enterprises beginning a new business and applying for registration under MSME had to invest in a lot of paperwork and time-consuming process. They also had to go to the government offices for registration. The eligible enterprises should qualify for Udyam registration should be in the manufacturing or service sector or both.

Features of Udyam Registration Online

The features of Online Registration of Udyam are as follows: -

1. A permanent registration number is provided to MSMEs on the Udyam certificate

2. The registration certificate of Udyam is an e-certificate issued on the registered e-mail ID of the applicant.

3. The validity of the registration certificate is till the existence of the enterprise. Therefore, no need for renewal.

4. An enterprise cannot apply for more than one Udyam registration.

5. Udyam registration certifies that an enterprise is covered under the MSME category.

New definition of MSME Registration under Udyam

According to the new definition, the criteria for classification for the definition of MSMEs under Udyam Registration online as per investment and turnover; the limit has been revised upwards. The distinction between the service and the manufacturing sector has also been eliminated. This is a classification of the types of enterprises that are eligible for Udyam registration is given as:

It is important to note that the eligibility criteria for Udyam registration should be met as micro, small medium enterprises for the registration.

How to Apply for Udyam Registration for new enterprise?

The application process for Udyam registration online is done through the Udyam portal. The government has given several benefits to registered enterprises to boost the economy and become a self-reliant country. Let’s now understand the easy step-by-step procedure to register under Udyam:

Step 1: Visit the official website – udyam registration.gov.in

Click on the button for entrepreneurs who are ‘new and not yet registered with Micro, Small Medium enterprises’.

Step 2. Enter your details

Enter your name (applicant) as well as your twelve-digit Aadhar number. After that, you can click "Validate & Generate OTP." Then, you will receive an OTP to the mobile number associated with the Aadhar. Enter this OTP to get udyam registration.

Step 3: Verification of PAN

While applying for Udyam registration online, it is necessary to select the type of firm before entering the PAN number, then click the confirm button. The validation of the PAN is a must.

Step 4: Add the Details of the Correspondence.

When you enter all the details, then you also need to enter the full postal address of your enterprise.

Step 5: Enter your bank details

You will have to give the company's bank account number that is in use along with an IFSC code of the branch at which the account was opened.

Step 6: Details of the Enterprise

To proceed with the registration udyam, provide the name of all people employed by the NIC for the specific activities of MSME. For Udyam registration online, you need to enter the entire amount of cash (in lakhs) that was invested into the machine or plant.

Step 7. Select the District Industry Centre (DIC) and approve the declaration

Enter the OTP which was sent to a registered mobile number then click “Final Submit". When you click the 'Submit and Receive Final OTP' option, you will receive a registration number.

Once all information has been thoroughly verified by the relevant authorities, the user will receive an udyam certificate that is sent to the registered e-mail ID.

How to apply for MSME Registration online?

Registration for MSME online is given in two categories as follows: -

1. For New entrepreneurs who are not yet registered as MSME or those with EM-II and

2. For having UAM registration and for having registration in UAM through assisted filing

Follow these steps to register in the first category are as follow: -

• Visit the Government portal for MSME (Udyam registration online)
• Click the ‘For new entrepreneurs who are not registered yet as MSME’ option
• Enter the Aadhar number and click "Validate & Generate OTP." Enter OTP received on your mobile phone
• Enter ‘Type of organization’ and PAN number and then Click on the ‘Validate PAN’ button
• File the form for Udyam registration by filling in all the personal details and details of the enterprise
• Enter the investment and turnover details, select the declaration, click on the “Submit and Get final OTP” button
• After entering OTP and submitting the form
• You will receive the Udyam Registration e-certificate on your mail ID.

What is Udyam Registration Certificate?

The certificate of Udyam registration online is the most essential certification if you own an enterprise or business that comes under MSMEs (Micro, small and medium enterprises) are one of the most integral parts of our economy.  They form a significant part of the business and there are various industrial sectors around the economy. It is an e-certificate, which is issued at the completion of the process of registration. The registration certificate has a QR code through which the web page of the MSME can be accessed through the Udyam portal facilitating ease of business.

Benefits of Udyam Certificate

• Lesser interest rates on loans
• Assists in getting business government tenders
• Udyam registration online provides a discount on electricity bills
• Advantage on Patent and trademark fees
• Industrial promotion Subsidy eligibility
• Avail easy access to government licenses, approvals, and registrations
• International trade fair consideration
• Protection against delayed payments
• Enjoy special exemption under Direct tax laws

Conclusion

Udyam registration is a recognized platform launched by the MSMEs (Micro, small and medium enterprises) to boost and facilitate MSME growth in India. It is free of cost and you need an Aadhar number for registration. You have to file only one Udyam registration even if you are involved in multiple manufacturing or service-related firms. It also provides many benefits to the registered enterprise under various government schemes under Udyam registration online. Namely, the woman entrepreneurship scheme, Udyog Aadhar memorandum scheme, Capital subsidy scheme, Zero defect, zero effect which means if you produce goods or provide services as per government standards then you are entitled to rebates and concessions for the goods you export.

Online XBRL is the leading platform for Udyam registration services, so connect with us for more info.