Udyam Registration

Online Udyam Registration

Udyam Registration

On 26th June 2020 Central Government has issued notification to clarify the process for MSME registration through Udyam Registration Portal (herein after called as portal). Udyam Registration is newly launched platform for online MSME registration. Now registration of MSME will be taken place at this portal only.  Now every MSME is required to file their Memorandum (called as Udyam Registration) at  Udyam Registration portal.

MSME Registration process at Udyam Registration portal:

  • An online application is required to be filed on this portal.
  • Such application will be based on Aadhaar number of authorised signatory of such enterprise who is applying for MSME registration.
  • Only single application will be allowed for every enterprise (MSME). No separate application to be filed for Service Provider and/or Manufacturer.
  • After successfully submission of application such enterprise/person will be allotted an “Udyam Registration Number”.
  • An E-certificate will be also issued to enterprise which will be called as “Udyam Registration Certificate”.

Important points of Notification:

  • All the existing registered MSME with Udhyog Aadhaar portal are required to re-register with Udyam Registration portal. However the existing enterprises registered prior to 30th June, 2020, shall continue to be valid only for a period up to the 31st day of March, 2021.
  • Once a MSME is registered with this portal then such MSME shall be required to provide certain information on this newly launched portal. Such information will include turnover details as per GST returns, Income Tax Returns and details of Investment in Plant Machinery as per ITR.
  • If an enterprise does not able to file application with this portal due to un-availability of Aadhaar card can apply manually at Single Window facilitation Systems of their respective district.

Clarification on turnover Calculation of MSME:

  • Export turnover will be excluded while calculating turnover limit for Micro, Small or Medium

Clarification on Calculation of Investment in Plant and Machinery:

  • Government prescribed definition of Plant & Machinery and Equipment as “Plant Machinery as defined under income tax act 1961 and shall also include Intangible assets. However Land, Building, Furniture and Fixture have been excluded from definition of Plant and Machinery.
  • GST paid on purchase of Such Plant Machinery (whether original purchase or second hand) will be excluded from the value of plant and machinery.

Concluding Remarks:

By introduction of new portal “Udyam Registration portal” already registered MSME is required to file re-registration application on such portal. However one year cooling period is allowed to existing registered MSME with Udhyog Aadhaar. Through this portal government will be monitoring “Turnover and Investment limits” by reconciling information provided by enterprise with information available at GST and Income Tax portal which was missing on Udhyog Aadhaar.

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