Udyam Registration Portal | UPSC
New Process of MSME Registration takes off in the name of Udyam Registration from 1st July, 2020 as planned earlier
WHY IN NEWS:
www.udyamregistration.gov.in – a new portal for Udyam Registration launched by the MSME Ministry
SYLLABUS COVERED: GS 3: MSME
For PRELIMS it is important to know the new registration process. Process , Documentation and the new system . We urge you to go through the new website once .
For MAINS well this is part of ease of doing business . Can you tell why and how New Zealand stands 1st in Ease of doing business ?
Government has organized a full system of Facilitation for Registration Process.
- An enterprise for this purpose will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’.
HIGHLIGHTS OF THIS PROCESS ARE:
- MSME registration process is fully online, paperless and based on self-declaration.
- No documents or proof are required to be uploaded for registering an MSME.
- A Registration number will be given after registration , after completion of the process of registration, an Udyam Registration Certificate will be issued.
- There will be no need for renewal of Registration.
- PAN & GST linked details on investment and turnover of enterprises will be taken automatically from the respective Government data bases.
- MSME Ministry’s online system will be fully integrated with Income Tax and GSTIN systems.
- No enterprise is supposed to file more than one Udyam Registration.
- However, any number of activities including manufacturing or service or both may be specified or added in one Registration.
- Registration Process is totally free.
- Ministry has expressed confidence that this process will be extremely simple, seamless entrepreneur friendly.
- It will set an example in Ease of Doing Business, not only in India but internationally.
- It will reduce transaction time and costs.
- Entrepreneurs and Enterprises can focus on their real work and become globally competitive.