Why is it mandatory to re-register for Udyam?

Why Is It Mandatory To Re-Register For Udyam?

The GOI (Government of India) always promotes entrepreneurship which brings enormous growth opportunities for the people and country. Hence, the Ministry is launching a varied scheme to encourage entrepreneurship in India. And, Make In India is its prime example.

It means that Indian entrepreneurs should take advantage of government schemes to take their business to the next level.

In the current update, the Ministry of MSMEs made the Udyam registration a simple, and hassle-free online process.

The process and its advantages will be extremely helpful in reducing transaction time and costs. So, entrepreneurs and enterprises can focus on their core business work to empower global competitiveness.

As per the announcement of the Indian Ministry, the existing MSME registration holders must be required to re-registration under the new guideline.

 

Does your business require you to re-register for MSMEs?

Udyam Registration is a government registration for a business to gain the benefits of various government schemes when you register under Udyam.

After the successful completion of the application process government bodies issue a certificate of recognition and a unique number for the certification of MSMEs.

Any entrepreneur who wants to embrace MSME benefits can file for Udyam registration online. Once the re-registration completes, a permanent identification number along with an e-certificate, known as ‘Udyam’ will be assigned.

Re-registration is Mandatory for businesses falling under Udyog aadhar, SSI, MSI, MSME, etc. No matter if you have completed the registration earlier and availing the advantages for the same, the authority has changed the regulations.

If your businesses do not complete the re-registration process before 31-3-2021, you will not be able to embrace benefits provided through MSME registration certificate.

As the new registration process is integrated with the income tax and GST department. It means any updation on GST and tax, or the turn over and plant machinery. If you already have Udyog aadhar and do not re register for MSME online, all the benefits will be lapsed.

Hence, it is necessary to re-register for the Udyam certificate. Here we will guide you through the re-registration process thoroughly.

Process Of Re-Register MSME

As per the new guidelines issued by the government, the business owners who have already registered their MSME into Udyog Aadhaar require to re register their business under Udyam. Here are the essential steps to re register your business into Udyam easily and quickly.

  • STEP 1: Understand the new guidelines thoroughly with Business Aadhar and complete the registration process.

 

  • STEP 2: Get your unique identification number for registration.

 

  • STEP 3: Fill in the online application form with accurate information after entering Udyog Aadhaar Number.

 

  • STEP 4: Make online payment for the re registration MSME process and proceed further.

 

  • STEP 5: In this stage, the applications will be processed by one of the executives allotted by a legislative body.

 

  • STEP 6: Once everything goes on track, the Udyam certificate will be sent to the mentioned email address within a couple of hours.

 

Although the re-registration process is simple to execute, you should not take any chance with it. What if you get assisted support to complete the re register MSME Online process quickly.

We offer expert assisted support to fill in the MSME application form so that you can get approval in the first attempt and enjoy the benefits as soon as possible.

 

Required Details for Udyam Re Registration

  • The company owner’s name and Aadhar number (as per the Aadhar Card)
  • Previous registration (MSME) details of your company
  • Your enterprise or organization’s type
  • Current address and account details of the proprietor or owner.
  • National Industrial Classification (NIC) code
  • Number of total workers employed in your company
  • Details of the current activities of your firm
  • Entrepreneur’s contact details, such as email ID, mobile number, etc.
  • PAN number and the overall expense initiated by the entrepreneur in the business

 

Quick Overview of the Benefits of Udyam Re-Registration

The Government of India has announced multiple benefits to avail the advantages after re-registering under Udyam

  • Loans with reduced interest rates and without collateral
  • Subsidy for the industrial promotion and registration of patents
  • Concession on electricity consumption
  • Access government tenders only offered to MSME registered companies
  • Easily acquire licenses, approvals, registrations, etc.
  • Tax exemption under Direct Tax Laws, and many more.

These benefits are essential to grow business and sustain market competition. If you own a business in India, you must acknowledge the announcement of re-registration of MSME online. The registered company will get many opportunities to sustain lucrative growth.

 

Have You Applied For Re-Registering MSME online yet?

An organization with Udyam Registration Number must update its details online that includes the details of the previous financial year’s ITR and GST Return, and much other additional information based on self-declaration.

Failure to update such relevant information within the time limit provided by the government will cause legal actions. In fact, businesses must re-register for MSME in order to avail the benefits.

The companies who  The enterprise will be liable for suspension of its status according to the announcement made by the Ministry of MSME on 26th June 2020.

Hence, it is advisable to revise the MSME registration process and complete the actions to avoid liabilities.

 

Business Aadhar offers full-proof assistance in completing Udyam re-registration process. Connect with us for re-registration of MSME online quickly and easily, and make your business avail the benefits allotted for the category.

Let’s schedule a call (+ 91 82000 24380) to complete Udyam re-registration, now promptly!

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