Udyam registration provides a simplified platform for the registration of Medium, Small and Micro enterprises. Udyam Registration also known as MSME Registration is nothing but a government registration that is provided along with a recognition certificate and a unique number. This is to certify small/medium businesses or enterprises. The applicant must have a valid Aadhar for registering the business under Udyam.
Eligibility to apply for Udyam:-
| Eligible | Ineligible |
| Only those Micro, Small and Medium enterprises are considered eligible for Udyam Registration which are either in manufacturing or production or processing or preservation of Goods OR in the providing or rendering of services. | The enterprises which are engaging only in trading i.e. buying, selling importing, exporting of Goods are not even eligible for applying for Udyam Registration. |
Classification of Micro, Small and Medium Enterprises :-
| Particulars | Micro | Small | Medium |
| Investment in Plant and Machinery | Upto 1 Cr | Upto 10 Cr | Upto 50 Cr |
| Turnover | Upto 5 cr | Upto 50 Cr | Upto 250 Cr |
If an enterprise crosses the ceiling limits specified for its present category in either of the two criteria of investment or turnover, it will cease to exist in that category and be placed in the next higher category but no enterprise 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.
All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and the turnover and investment figures for all of such entities shall be seen together and only the aggregate values will be considered for deciding the category as micro, small or medium enterprise.
Steps for Registration :-
- The form for registration shall be as provided in the Udyam Registration portal. Portal – https://udyamregistration.gov.in
- Start by providing personal details and your 12-digit unique Aadhar number. Click on “Validate & Generate OTP.” You will receive an OTP on your registered mobile number. Enter the OTP.
- Select the type of organization and enter your PAN no and click on validate. PAN validation takes place. In case of a Company / LLP / Cooperative Society / Society / Trust that its authorized signatory shall provide GSTIN and PAN of the Company / LLP / Cooperative Society / Society / Trust along with his Aadhar number.
- The next step is to filling up the details for correspondence with the enterprise.
- You will have to enter your enterprise’s active bank account number along with the IFSC code of the concerned branch.
- After filing the bank details, the applicant is required to provide the details of the enterprise including
- Mainline Activity
- Total Number of employees
- National Industry Classification(NIC) Code for Activities.
- Select the District Industry Center and Accept the Declaration
On provding all the necessary details the applicant has to click on ‘Submit and Get Final OTP ’you will receive a registration number. The Government will verify all the information and the applicant will receive an E-registration document on your e-mail id.
Kartik M Jain & Associates, CA in Pune is a professionally managed firm serving domestic and international clients providing services relating to direct and international taxation, indirect taxation, auditing and assurance and Consultancy. It is amongst the best CA firms in Pune. With a team of expert and experienced Professionals, The firm aims to provide quality and effective services. The firm provides complete end to end solutions to your complete business needs under one roof. Our sister Firm, Payal K Jain & Associates, a Company Secretary in Pune provides services in relation to Company Formation in Pune and across India, Corporate Law and Compliance, ROC filings, FEMA, Trademark Registration, etc.
Our Services :- GST consultation, Chartered accountant, Income Tax consultancy, Corporate law, International Taxation, Transfer Pricing, Regulatory & Advisory Services.
