What Is The Udyog Aadhar Memorandum's Validity From The Date Of Registration

What Is The Udyog Aadhar Memorandum’s Validity From The Date Of Registration?

The government of India requires existing enterprises registered with Entrepreneurs Memorandum-II (EM-II) and/ or Udyog Aadhar Memorandum (UAM) enrolments before 30th June 2021, to re-register their enterprises in the new portal of Udyam registration. The old UAMs and EM-IIs will therefore not be valid for a long period now. There has been a notification for specifying the date for udyog aadhar validity check in the official website. The Udyog aadhar registration, also known as the MSME registration, is a government of India registration that certifies all micro, small, and medium enterprises in India. All micro, medium, and small businesses with an Aadhar number, a PAN number, and GST information can register on the MSME website and take advantage of the government’s incentives.

Also, Read- Udyam Registration Portal

Udyog Aadhar Validity Check

For existing businesses that registered before June 30, 2020, the government has extended the Udyog aadhar validity period till March 31, 2022. The previous validity term for Udyog aadhar was December 31, 2021. This extension, according to the MSME (Ministry of Micro, Small, and Medium Enterprises), will provide existing businesses the time they need to migrate to the new UAM platform (Udyog aadhar memorandum).

If your enterprise is registered before 30th June 2020 under EM-II or UAM, then your Udyog aadhar memorandum (UAM) will become invalid after 31st March 2022 and you will be required to fill a new registration in the portal to continue receiving benefits from the government. This notification has been published by the Ministry on its official website on 27th January 2020. 

Udyog Aadhar Registration: What Is It?

Several new entrepreneurs would, however, be unaware of what the Udyog aadhar memorandum and registration is. Udyog Aadhar Registration, also known as MSME registration, is a government registration of small, micro, and medium enterprises, which is provided along with a recognition certificate and a unique number. The motive behind this is to create a systematic procedure for the government to provide the MSMEs, which are registered with their aadhaar numbers, with maximum benefits.

Who is eligible to register for Udyog Aadhar?

The organizations that manufacture, produce, process, preserve goods or provide services are eligible for Udyog aadhar registration. In other words, the traders who buy, sell, import, or export goods are not eligible for registration. Apart from this, there are a set of criteria that an entity has to meet to be considered as a micro, medium, or small enterprise. These criteria will also have to be met.

How To Register?

The registration and form-filling process for Udyam is really straightforward. Please note that the MSME registration is free and the website does not charge any fee even for issuing the certificate of registration. The process for registration is quite easy and one can follow these steps to register themselves:

Step 1: Visit MSME’s official website.

Step 2: Enter your details which include your name and your unique 12 digit aadhaar number. Click “Validate and Generate OTP” after entering these details. Enter the OTP that was sent to your registered phone number. Please note that the aadhar number required for the registration will be that of the proprietor in case of proprietorship, the managing partner in case of partnership family, and that of the authorized signatory in case of a Company or an LLP (Limited Liability partnership).

Step 3: Choose your organization’s kind and input your PAN number. Select Validate.Enter the Pan number of the same person whose Aadhaar number has been entered.

Step 4: Fill in the corresponding details which include the postal address of the company/enterprise, email address, and mobile number.

Step 5: Enter the bank details of the active bank account of the enterprise along with the IFSC code of the concerned branch.

Step 6: Enter the enterprise details including the mainline activity of the enterprise, the number of employees, and National industry classification. After which, you will be required to fill the amount of money invested in lakhs.

Step 7:  In the last step, you will be required to select the district industry center from the provided drop-down list. Accept the declaration and click on “Submit” to get the final OTP. Enter the OTP and make the final submission.After that, you will receive the “Udyam Registration Certificate” e–registration form in your registered email address.

Required Documents for Udyam Registration

The registration process is entirely online and without paper. It is based on a self-declaration. Therefore, no hard copy of documents is required for registering in MSME, only the aadhar number is enough for the registration. PAN and GST details will be automatically taken from the government database.It is necessary to have a PAN and a GST number.

The Advantages of Becoming an Udyam

There are many benefits of getting an enterprise registered as an Udyam. The top benefits are

  • Udyam Registration helps get government tenders.
  • For Udyam-registered businesses, bank loans are available at a lower interest rate of up to 1.5 percent.
  • Udyam registers are eligible for a variety of tax breaks.
  • It becomes easier to get licenses approval and registrations if you have Udyam registration.
  • Even from the market, Udyam registers have easy access to loans.
  • Tariff subsidies and tax and capital subsidies are available for enterprises having UAM.
  • UAM lowers the price of obtaining a patent. It also reduces the cost of setting up industries with the help of rebates and concessions from the government.

Final Words

A total of 75,29,881 micro, 3,50,417  small, and 35,763 medium enterprises have registered themselves under Udyog registration as on 26th March,2020. If your enterprise has not been registered under Udyam registration yet, make sure to register it. Remember to register in the official government portal and if it becomes tough for you to register, then hire a professional registration company. The Udyam Registration will allow you to avail the benefits offered to MSME enterprises.

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