How to Apply for UDYAM REGISTRATION NUMBER

Udyog Aadhaar Registration – Process, Documents Required & Benefits

As recently a lot of updates have been coming up for MSME sector, a lot of people have questions and confusion. Even those businesses who already have MSME registration or udhyog aadhar registration will have to apply for Udyam registration after 1^st July, 2020. We will try to summarize all important information regarding Udyam new website, Udyam registration, benefits, etc.

First, let us understand which categories of businesses fall into MSME (Micro, small and medium enterprises). Based on investment and turnover criteria a business falls in one of the three categories of Micro, Small or Medium. If a business crosses the specified ceiling limits for its present category in either of the two criteria of investment or turnover, it will stop to fall in that category and be placed in the next higher category but no business shall be placed in the lower category unless it goes below the ceiling limits specified for its present category in both the criteria of investment as well as turnover.

MULTIPLE GSTIN AGAINST ONE PAN:

If you have taken different Goods and Services Tax Identification Number (GSTIN) against one Permanent Account Number, All units with listed against the same (PAN) shall be all together treated as one business and the turnover and investment values for all of such entities shall be taken together and only the aggregate values will be considered for deciding the category as micro, small or medium enterprise.

HOW TO CALCULATE TURNOVER:

For a new Business: Self-declaration by the owner, once the first financial year is completed, the value is taken from the Income Tax Return filed by such business. The purchase) value of a plant and machinery or equipment, whether purchased first hand or second hand shall be taken into account excluding Goods and Services Tax (GST), on self-disclosure basis in case of a new business which has not filed it’s ITR yet.

For an existing Business: Value of plant and machinery is taken from income tax return filed.

HOW TO CALCULATE INVESTMENT IN PLANT AND MACHINERY?

Exports of goods or services or both shall be excluded while calculating the turnover of any categories of MSME business.

Information as regards turnover and export turnover for business shall be linked to the Income Tax Act or taken from the GST Return Filed.

The turnover related figures of such enterprise which do not have PAN will be considered on a self-declaration basis for a period up to 31st March, 2021 and thereafter, PAN and GSTIN shall be mandatory.

WHAT IS UDYAM REGISTRATION PROCESS WHICH WAS CALLED UDHYOG AADHAR REGISTRATION OR MSME REGISTRATION EARLIER?

For Udyam registration which was earlier called Udhyog Aadhar Registration or MSME Registration, you can directly apply from Government’s portal. You need to keep ready aadhar card, pan card, mobile number, email id, information of turnover value, plant &machinery value, number of employees, GST number if any, bank account proof.

WHO’S AADHAR NUMBER?

Aadhar number: In case of a proprietorship firm- proprietor’s Aadhar, in the case of a partnership firm- Aadhar number of managing partner and in the case of a Hindu Undivided Family (HUF)- Aadhar number of a Karta, In case of a Company or a Limited Liability Partnership or a Cooperative Society or a Society or a Trust, Any of its authorized signatory shall provide business GSTIN and PAN along with authorized signatory’s Aadhaar number.

Can one Business apply for more than one MSME Registration / Udhyog Aadhar registration?

No. If you have multiple activities like service, trading, manufacturing, you should include all info in one registration filing application.

Do existing MSME need to re-apply for Udyam registration?

All existing businesses registered under EM–Part-II or UAM shall register again on the Udyam Registration portal of Government on or after the 1st day of July 2020. All those registered till 30th June 2020, shall be re-classified as per latest notification of Government

The existing registered msme prior to 30th June 2020, shall continue to be valid only for a period up to the 31stday of March 2021.

How to easily get your Udyam Registration?

You can simply request this service at CAonWEB and the team will make the process easy at an affordable cost. Please note that Government fees is zero but professional may charge service fees for making your process smooth and easy.

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