On June 26, 2020, the central government issued new regulations allowing for online registration of new businesses based on self-declaration. There would be no need to upload any documents or certificates for Udyam Registration from July 1, 2021. People can now use their Aadhar number and self-declaration to register a new business online. The Udyam Registration process has been linked to the Income Tax and GST systems by the Union government. The filled-in enterprise details can be easily validated using the PAN number or GST IN data.
All you need is an Aadhaar number to start a business. Other information can be provided on a self-declaration basis without the need to upload or submit any documents. As a result, the project is fully paperless. According to the statement, an MSME will be known as “Udyam” after July 1, which is more directly related to the word “business.” As a result, Udyam Registration will be the name of the registration procedure.
MSMEs are now classed based on their capital investment in plant and machinery, as well as their revenue. According to the notice, exports of items or services, or both, are to be omitted when calculating the turnover of any business, whether micro, small, or medium.
How to Apply for Udyam Online Registration
The MSME Ministry established revised criteria for categorizing MSMEs based on investment and turnover on June 1, 2020. On June 26, 2020, the MSME Ministry released a detailed notification outlining the classification standards for MSMEs. The notification also contained instructions on how to register as well as the ministry’s efforts to make the process easier.
For new entrepreneurs who have not yet been registered as an MSME or who have EM-II status:
The steps 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: To get started, go to the Udyam Online Registration Portal.
Step 2: Click the “For New Entrepreneurs who are not yet registered as MSME or those with EM-II” link on the site.
Step 3: When you click this link, you’ll be taken to the Udyam Registration Form for Unregistered Businesses.
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: After that, select the type of business, enter your PAN number, confirm your PAN card, and complete 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.
The Udyam Registration Online Portal will require an aadhaar number to apply. 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). The organization or its authorized signatory must submit its GSTIN and PAN, as well as its Aadhaar number, in the case of 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 only be valid until December 31, 2021. The following is the entire process to make Udyam Registration at the Udyam Registration Online Portal for individuals who have already enrolled as UAM:-
Step 1: For further information, go to the official website.
Step 2: On the homepage, click the “For those already having registration as UAM” link under the “Migrate to Udyam (Re-Register) Here” section.
Step 3: The Udyam Registration Form for existing entrepreneurs who have already registered as UAM appears when you click this link.
Step 4: Applicants can use this website to enter their Udyog Aadhaar number and confirm their OTP via phone or email, as instructed in the application. Fill out the remaining application form to complete the online application procedure.
Furthermore, each business can only have one Udyam Registration on the Udyam Registration Online Portal, which can comprise any number of activities.