The new Udyam portal from the Ministry of Micro, Small and Medium Enterprises (MSME) is a self-declaration and cost-free platform for entrepreneurs to register their businesses. The Udyam portal is integrated with the Income Tax and GST IN systems, and it pulls PAN and GST-related investment information automatically.
Also Read : Udyam Certificate
For registration, entrepreneurs will simply need their Aadhaar numbers, and all MSMEs will receive a certificate with a permanent registration number. The certificate will include a QR code that can be used to obtain information about the company via the site.
The MSME Udyam portal registration is a quick and painless process that can only be completed through the Udyam portal and single window systems.
The following are the steps for registering a small business on the MSME Udyam portal:
Proprietorship businesses must have the owner’s Aadhaar number in order to register as an MSME. In the case of a partnership firm, the controlling partner’s Aadhaar number must be present, and in the case of a Hindu Undivided Family (HUF) business, it must be that of a karta.
To register an enterprise on the MSME Udyam site, take these simple steps:
Step 1: You’ll need to go to official website which is the MSME’s official website. You should look for the national insignia in the website’s left corner, with MSME ministry written beside it.
Step 2: On the homepage, click ‘New registration’ to access the registration form. Fill in the relevant ‘Aadhaar Number’ and ‘Name of the Entrepreneur’ fields.
Step 3: Enter the needed details for the PAN verification phase by clicking ‘Validate and Generate OTP’.
Step 4: The Udyam registration box will now appear, and you will be prompted to fill in all of the required information.
Step 5: After completing the registration, you will receive a ‘Thank You’ message with the registration number beginning with ‘UDYAM’.
If your company engages in two activities, only one Udyam registration is required. In the same registration, the same information must be provided. All knowingly misleading self-declared facts and numbers are subject to penalties under Section 27 of the CGST Act.
What is the purpose of the Udyam portal?
As of June 2, 2021, the Udyam portal, a free MSME registration website introduced by the Central government last year, had 31.56 organisations. The Udyam site assists the government in aggregating and collecting data on the country’s MSMEs. The platform also includes information on MSMEs’ production size, geographical location, investment, and turnover. The Udyog Aadhar Memorandum has been replaced (UAM).
What exactly are MSMEs?
- A microenterprise is one with a capital investment of less than Rs 1 crore and a turnover of less than Rs 5 crore.
- Small businesses have an investment of less than Rs 10 crore and a sales of less than Rs 50 crore.
- A medium-sized business has an investment of less than Rs 50 crore and a sales of less than Rs 250 crore.
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