The federal government established new laws on June 26, 2020, allowing new enterprises to register online based on self-declaration. From July 1, 2021, there will be no need to upload any documents or certificates for Udyam Registration. People can now use their Aadhar number and self-declaration to create a new business online. The Udyam Registration process has been linked to the Income Tax and GST systems by the Union government. The PAN number or GST IN data can simply validate the filled-in business facts.
All you need is an Aadhaar number to start a business. Rather than downloading or submitting papers, the further information might be provided through self-declaration. As a result, the project is completely paperless. After July 1, an MSME will be called “Udyam,” which is more closely related to the word “business,” according to the statement. As a result, Udyam Registration will be the name of the registration method.
MSMEs are now classed according to their revenue and capital investment in plants and machinery. Exports of products or services, or both, are to be excluded when measuring the turnover of any business, whether micro, small, or medium, according to the notice.
How to Apply for Udyam Registration Online
The MSME Ministry changed the criteria for categorizing MSMEs based on investment and turnover on June 1, 2020. The MSME Ministry issued a thorough notification describing the classification standards for MSMEs on June 26, 2020. The announcement also contained instructions on how to register and details on the ministry’s efforts to make the process simpler.
For new entrepreneurs who are not yet MSME-registered or have EM-II status:
The processes to apply for Udyam Registration online for new entrepreneurs who are not currently registered as MSMEs or have EM-II are as follows:
Step 1: Go to the Udyam Online Registration Portal to get started.
Step 2: On the website, click the “For New Entrepreneurs who have not yet registered as MSME or with EM-II” link.
Step 3: When you click this link, you’ll be brought to the Udyam Unregistered Business Registration Form.
Step 4: Here you can enter the entrepreneur’s aadhaar number and name, which are required for Udyam Registration.
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: Then choose your business type, enter your PAN number, confirm your PAN card, and finish the rest of the application.
Step 7: To complete the Udyam application process for new entrepreneurs, fill in the remaining details in this form, submit it, and log in.
You must have an Aadhaar number to apply for the Udyam Registration Online Portal. In the event of a proprietorship firm, the proprietor’s Aadhaar number will be used, while in the case of a partnership firm, the controlling partner’s number will be used, and in the case of a Hindu Undivided Family, a Karta number will be used (HUF). A Company, a Limited Liability Partnership, a Cooperative Society, a Society, or a Trust must provide their GSTIN and PAN, as well as their Aadhaar number if they are a Company, a Limited Liability Partnership, a Cooperative Society, a Society, or a Trust.
Those who have already enrolled as UAM should migrate to Udyam (re-register)
After July 1, 2021, all existing UAM-registered businesses must re-register on the Udyam Registration Online Portal. Existing businesses that were registered before June 30, 2020, will have their registrations extended until December 31, 2021. The following is the whole method to make Udyam Registration through the Udyam Registration Online Portal for those who have already enrolled as UAM:-
Step 1: Visit the official website for more details.
Step 2: Click the “For those already having registered as UAM” link on the homepage’s “Migrate to Udyam (Re-Register) Here” section.
Step 3: When you click this link, the Udyam Registration Form for existing entrepreneurs who have already registered as UAM displays.
Step 4: As specified in the application, applicants can utilize this website to submit their Udyog Aadhaar number and confirm their OTP via phone or email. Fill out the remaining application form to complete the online application procedure.
Suggested Read- udyam registration certificate
Furthermore, each firm can only have one Udyam Registration on the Udyam Registration Online Portal, which can include any number of activities.