If you are a new entrepreneur having a micro, small or medium business, you will have to register yourself on Udyam portal launched by the Ministry of Micro, Small and Medium Enterprises (MSME) in 2020. According to the ministry, the MSME will be known as Udyam and its registration process is known as ‘Udyam Registration‘. After the process, the MSME will get a permanent registration number and a certificate will be issued online. The certificate will have a dynamic QR codefrom which the portal and details about the enterprise can be accessed.
This is a one-time process, which can also be done through the MSME ministry’s single window systems at Champions Control Rooms and DICs, and there is no need for the renewal of the registration.It is to be noted that except the Udyam portal and single window systems, no other private online or offline system, service or person is authorised to do the MSME registrations, which are free of cost. To save yourself from fake portals, check for the national emblem on the left corner of the website and MSME Ministry written beside it.
Also, you just need to have one Udyam registration, even if your business is involved in more than one activity, say manufacturing or service or both. These will have to be specified or added in the same registration.
Those who already have EM-II, UAM or any other registration issued by any authority under the Ministry of MSME, will have to re-register themselves.
Let’s first have a look at who are the MSMEs:
- A microenterprise is one where investment does not exceed Rs 1 crore and turnover not over Rs 5 crore.
- In a small enterprise, investment does not exceed Rs 10 crore and turnover is not more than Rs 50 crore.
- A medium enterprise has been classified as a business where the investment does not exceed Rs 50 crore and turnover is less than Rs 250 crore.
Let’s have a look at the step-by-step guide to the registration process:
The MSME registration process is fully online, paperless and based on self-declaration. For registering, only the Adhaar number is needed. For proprietorship firms, the Aadhaar number should be of the proprietor;in the case of a partnership firm, it should be of the managing partner and for a Hindu Undivided Family (HUF) business, it should be of a karta.
Your investment details linked to your Permanent Account Number (PAN) and Goods and Services Tax (GST) and turnover will automatically be taken from the government databases. It is to be noted that the online portal is fully integrated with Income Tax and GSTIN systems. Hence, PAN and GSTIN (as per applicability of the CGST Act, 2017, and as notified by the Ministry of MSME on March 5, 2021) is required. However, the information for previous years when an entrepreneur did not have PAN needs to be self-declared.
Intentionally misrepresented self-declared facts and figures areliable to penalty under Section 27 of the CGST Act.
Step 1: Visit the official website, udyamregistration.gov.in
Step 2: Click ‘New registration’ on the homepage. You will get the registration form
Step 3: Enter the concerned ‘Aadhaar Number’ and ‘Name of the Entrepreneur’ and click on ‘Validate & Generate OTP’
Step 4: Enter the required details on PAN verification page
Step 5: Then, the Udyam Registration box will appear where you will have to fill in all the details asked for
Step 6: After successful registration, you will get a ‘Thank You’ message with the Registration Number starting with ‘UDYAM’
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