The government of india is continually supporting entrepreneurship because it offer tremendous opportunity for people and the country to prosper. As a result the ministry is launching a number of program to encourage indian to start enterprise. Make in india is a great example of this.
It advise that in order to expand their firm, indian entrepreneur should take advantage of government program.
In the most recent revamp the ministry of msme registration online made the udyam registration portal a quick and straightforward online process.
The method and its advantage will drastically cut transaction time and cost. As a result entrepreneur and firm can focus on their core business in order to improve their worldwide competitive.
Existing micro, small and medium enterprise registration holder would be obliged to re register under the new guidelines according to the indian ministry notice.
Is re registration for micro, small and medium enterprise required for your company?
Udyam registration is a government registration that permit a company to participate in a variety of government program.
After the application process is completed successfully government organization issue a certificate of recognition and a unique number for micro, small and medium enterprise certification.
Suggested read udyog aadhaar print download.
Anyone who wants to benefit from micro, small and medium enterprise benefit can sign up for udyam online. You will be granted a permanent identification number as well as an electronic certificate known as udyam once the re registration is completed.
Re registration is required for enterprise that come under the udyog aadhar, small scale industry, medium scale industry, micro, small and medium enterprise and other category. Because the government has changed the requirement it does not matter if you previously completed the registration and reaped the benefit.
If you do not complete the re register process by 31st of december, 2021 you may lose access to the micro, small and medium enterprise registration certificate benefit.
Because the new registration process is related to the income tax and good services tax department, it refer to any changes to the goods service tax and tax system as well as change in turnover in plant and machinery. If you already have a udyog aadhar and do not re register for micro, small and medium enterprise online you will lose all perk.
The udyam certificate must be re registered as a result. We will walk you through the re registration process step by step.
Procedure for micro, small and medium enterprise re-registration.
Business owner who have already registered their micro, small and medium enterprise using udyog aadhaar must re register their enterprise under udyam according to the government new instruction. Here are the step to re register your business with udyam in a simple and quick manner.
Complete the registration process by using the udyam registration portal to properly comprehend the new requirement.
Get your unique identification number for registration.
Fill out the online application form with accurate information after entering your udyog aadhaar number.
Finish the micro, small and medium enterprise re registration process by making an online payment and moving on.
One of the executive will process the application at this stage.
The udyam certificate will be emailed to the address provided within a few hour.
We can help you fill out the micro, small and medium enterprise application form so that you can get accepted on the first try and start enjoying the benefit right away.
The following information is necessary for udyam re registration:
The company owner name and aadhar number.
Information about your business previous micro, small and medium enterprise registration.
Your company and organization mission.
The current address and bank account information of the business and owner.
National identification code.
The total number of employee in your company.
Information regarding your business current operation.
Email address as well as phone number and other contact detail about the entrepreneur.
The entrepreneur permanent account number as well as the total amount spent on the business.
Udyam re registration benefit in a nutshell.
Anyone who re register under the udyam system would receive a slew of benefit from the indian government.
Loan with low interest rate and no need for collateral.
Subsidy for the promotion of industry and the registration of patent.
Only micro, small and medium enterprise registered enterprise that obtain a discount on electricity use are eligible for government bid.
Permit as well as approval and registration are simple to obtain.
Exemption from tax under direct tax legislation as well as a slew of other provision.
Also read udyog aadhaar print.
Have you re registered for micro, small and medium enterprise via the online application?
The income tax return and goods service tax return detail from the previous fiscal year as well as a variety of other self declaration based information must be updated electronically by an organization having an udyam registration number.
If such relevant content is not updated within the time range stipulated by the government legal action will be taken. Enterprise must re register with micro, small and medium enterprise in order to take advantage of the benefit.
Enterprise that fail to meet specific requirement will have their status removed according to a statement released by the ministry of micro, small and medium enterprise on 26th of june, 2020.
To avoid penalty it is a good idea to go over the micro, small and medium enterprise registration process and make sure you have covered all of the base.