Micro, Small, and Medium Enterprises (MSMEs) are vital to India’s GDP. They employ more than 110 million people, but they face many problems when they start and expand their businesses.
That is why, to help MSMEs, the Government of India created new classification criteria for MSMEs, and based on the new classification, all MSMEs in India are called Udyam. Registration of MSMEs, known as Udyam Registration, has been made mandatory for every MSME.
Let us understand Udyam registration, its benefits, and how to generate a Udyam registration certificate through the Udyam registration portal in this article.
Process of Udyam registration
The Government of India has started Udyam Registration in place of Udyog Aadhar. Registration is a paperless, self-declaratory, and user-friendly online process through which MSMEs can avail of various government benefits. The step-by-step process is given below, through which you can register your organisation online for Udyam registration.
Step 1: First of all, visit our official website, the Udyam registration portal
Step 2: After that, go to New Udyam Registration.
Step 3: There you will find the Udyam Registration Form open.
Step 4: Fill out the given Udyam Registration Form correctly.
Here you will have to give information like the applicant’s name, mobile number, emailID, and PIN code.
Then you will have to give the name of your state and district, gender, and social category. Fill in all the basic data properly.
Step 5: Fill in the name of your business, the date your business was started, and the address of your business.
Step 6: Choose your organisation. What type of organisation is yours from the drop-down box, and what is the main business activity of your company, like whether you are a manufacturer, service provider, or trader? Choose it.
Step 7: Fill in how much investment you have in your plant machinery and your annual turnover.
Step 8: Fill in your details like Aadhaar number, PAN card number, and GSTIN number.
Step 9: Give your bank name, bank account number, and IFSC code. Fill it out correctly.
Step 10: Then number of people who got employment in your organisation. Like how many men and women are there in your organisation and others. If you want to give any additional details about your business, you can give that as well.
Step 11: Then type the verification code given below, read the terms and conditions carefully, and checkmark it. After this, check the declaration given and submit your application.
You will directly go to the payment gateway. After making the payment, you will get a call for OTP verification, and you will receive a confirmation mail.
What are the benefits of getting a Udyam registration certificate?
It helps in getting government tenders.
Business loans are available at low interest rates from banks and NBFCs.
Many tax benefits are available only to Udyam.
Government permit permission and business registration become easy.
You will also be given help with capital tax and tariff subsidy.
If you want to set up your own business, then you will be provided with remissions and concessions in it.
To know more about : https://udyamgov.com/blog/apply-udyam-certificate-online
