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New process of Indian MSME registration takes off today
01 Jul '20
1 min read
Pic: Shutterstock
The new process of classification and registration of micro, small and medium enterprises (MSMEs) starts today and an enterprise called Udyam has been set up for this purpose, according to the MSME ministry. The online process, called 'Udyam registration', is based on self-declaration. No documents or proof are required to be uploaded for registering an MSME.
After completion of the registration process, an Udyam registration certificate will be issued that will have a dynamic QR code from which the web page on the portal and details about the enterprise can be accessed, said an official press release.
There is no need for renewal of registration. The details regarding the permanent account number, goods and services tax, investment and turnover of enterprises will be taken automatically from the respective government databases.
The online system will be fully integrated with income tax and other relevant official platforms. The registration process is free.
After completion of the registration process, an Udyam registration certificate will be issued that will have a dynamic QR code from which the web page on the portal and details about the enterprise can be accessed, said an official press release.
There is no need for renewal of registration. The details regarding the permanent account number, goods and services tax, investment and turnover of enterprises will be taken automatically from the respective government databases.
The online system will be fully integrated with income tax and other relevant official platforms. The registration process is free.
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