Startup-UDYAM Registration

Overview

Udyam Registration, also known as MSME Registration, is a new way for small and medium-sized businesses to get registered. It started on July 1, 2020, by the Ministry of Micro, Small & Medium Enterprises. When a business goes through this process, it becomes known as Udyam, and the registration is called Udyam Registration. After registration, the business gets a permanent number and a certificate.

Before July 2020, there was a different registration called Udyog Aadhaar, but now it's replaced by Udyam registration. This new process is easier. Udyam registration is important because it allows businesses to access benefits from the Ministry of MSME.

What is Udyam Registration?

Udyam registration is a must-have certificate from the Ministry of Micro, Small, and Medium Enterprises. When small and medium businesses sign up on the government's official website, they get this certificate. It comes with a special twelve-digit number called Udyam registration number (URN). This number helps them get government benefits, discounts, and special offers.

Benefit

• Loans without the need for collateral and with lower interest rates from banks and financial institutions.
• A simpler process for getting licenses, permits, registrations, and approvals.
• Discounts of up to 50% on trademark and patent registration fees.
• Getting ISO certification fees reimbursed.
• Not having to pay government security deposits when bidding for tenders.
• Tax exemptions.
• Discounts on water and electricity bills, and protection against late payments for your goods or services.

Tax & Process

• Udyam registration is open to enterprises in the trading, manufacturing, and service sectors that meet the specified threshold limits.
• Before registering your business with Udyam, it's advisable to review the list of eligible and ineligible activities on the Udyam registration portal.
• Micro Enterprises: Those with machinery, plant, or equipment investment below Rs. 1 crore and turnover below Rs. 5 crore.
• Small Enterprises: Those with machinery, plant, or equipment investment below Rs. 10 crore and turnover below Rs. 50 crore.
• Medium Enterprises: Those with machinery, plant, or equipment investment below Rs. 50 crore and turnover below Rs. 250 crore.

Documents Required

• Udyam Registration is an online process that relies on self-declaration.
• No document uploads are required during the application process.
• Applicants need to provide their 12-digit Aadhaar Number.
• PAN details are also required for registration.
• Bank Account details of the business must be furnished.
• These details are essential for completing the registration.
• The process is straightforward

Procedure

Step 1: Visit the official Udyam registration website (https://udyamregistration.gov.in/).

Step 2: Click on the 'For new entrepreneurs who are not registered yet as MSME or those with EM-II' button.

Step 3: Enter the Aadhaar number and the enterprise owner’s name on the next page.

Step 4: Validate the Aadhaar number using the OTP received on the linked mobile number.

Step 5: Provide essential enterprise details, including its name, type, location, and PAN, as prompted.

Step 6: Fill in bank account details, including the account number and IFSC code.

Step 7: Enter the NIC code and other necessary information related to the enterprise's main business activity.

Step 8: Verify the details and submit the application.

FAQ's