An Udyam Certificate is an e-certificate issued upon completing the MSME registration procedure.
The Udyam Portal is a new and enhanced tech-first system created by the Ministry of Micro, Smaller & Sized Businesses to promote and facilitate MSME development in India and give all the necessary support for MSMEs to digitize India and streamline operations.
Udyam Registration, often recognized as an MSME, consists of a gov. stamp, a Certificate of Recognition, and a Unique Number. This is useful if you want to attest that your smaller or medium-sized firm is legalized and running. This post will tell you how to update udyam certificate.
The Ministry of MSME administers Udyam Registration, Government of India, for micro and small businesses.
While the words MSME Registration/Udyog Aadhaar belonged to the previous registration system, in which a UAM Number was generated for confirmation, they are no longer in use.
The MSME Registration/Udyog Aadhaar system has been moved to the new Udyam Registration system as of 1 July 2020. Although you have already achieved MSME Registration, you must move to Udyam Registration.
Normally, it takes one to two weeks to generate the Udyam Certificate after creating the Udyam Registration Number.
Greater than 10 Lacs of small and medium business owners have enlisted in the Udyam Registration platform.
But after receiving the Udyam Certificate, they find several mistakes. Some folks make certain blunders while registering and fix things or change their Udyam certificate.
Some candidates also have queries about why their names, states, districts can not be modified, etc. We have described how you can update the Udyam certificate in this post. Let's discuss it step by step.
● Visit the official registration website of Udyam.
● Click on the page titled Update Udyam certificate.
● Enter the Udyam registration number (URN), candidate's name, mobile phone number, and email address that appears on your Udyam certificate.
● Select the registered mobile number and email address where you would like to receive your OTP. The OTP will be delivered to your registered mobile number or email address.
● Then, representatives will evaluate your inquiry and approve your application.
● After a few normal office hours, an updated Udyam certificate will be sent to your registered email address.
● Upon confirmation of the OTP, you will be needed to share it with representatives to continue the procedure.
Note: Candidates' names, states, and Aadhaar numbers cannot be updated on the Udyam Registration Certificate. PAN numbers can only be modified in limited cases.
To update your Udyam certificate, the needed document is below; first, gather these documents and then go ahead with your udyam registration certificate being updated.
● Your Udyam Registration Number
● Your registered contact number and email address for OTP
Upon completion of the full registration, a few critical things cannot be updated.
● Candidate Name
● Aadhaar Number
You can update some details on the Udyam registration certificate, including:
● Business Name
● The contact information
● PAN number in particular cases
● Bank account details
Let's get things sorted out! The organizations qualified for Udyam Registration must produce, manufacture, process, or preserve commodities or provide services.
In other words, traders who purchase, sell, import, or export items are ineligible for Udyam Registration.
To be categorized as a medium, smaller, or micro-enterprise to obtain the MSME registration, an organization must satisfy a set of criteria.
According to the current notice,
Types of Businesses ( for Manufacturing or Service field)
● Micro-Enterprises Investments of up to 1 Cr and sales of up to 5 Cr
● Small Businesses Investments of up to Rs 10 Cr and Sales of up to Rs 50 Cr
● Medium-Sized Businesses Investments up to Rs 50 crore and sales up to Rs 250 billion.
Udyam Registration is a simple process, and so is the registration form completion. The modern system is somewhat overhauled and requires fewer details than the older method.
The MSME Registration is free, and the website does not charge any official fee for providing registration certificates.
Things are now much simpler and more efficient. Here is a simplistic solution to register under MSME for Udyam Registration.
Check out the official Udyam Registration portal. Select the "For new entrepreneurs not yet enrolled as MSME" option.
Your name and 12-digit Aadhar number are the first pieces of information you'll be asked to provide. Select "Validate and Generate OTP" The OTP will be sent to the registered contact number. Enter OTP.
Select the business type and enter your PAN number, then click validate. PAN verification takes place.
Following the fields mentioned above, you will be required to enter the complete mailing address of the business/entity. Include the company's district, postal code, state, email address, and mobile phone number.
You must input the active bank account number for your business and the IFSC code of the relevant branch.
You must identify the core business activity of your company from "services" or "manufacturing." You must provide the total number of employees and the National Industry Classification Code for Activities.
After entering all the required information, inputting the entire amount of money (in lakhs) that you've invested in your machine or equipment would be the final step.
In the final step of this procedure, you will choose the district industry center from the drop-down menu displayed. Following this, you must approve the declaration and click "Submit and Get final OTP."
Enter the OTP received on your mobile number and click "Final Submit." You will obtain a registration number after clicking on "Submit and Get Final OTP." After the government verifies all of your information, you will get an E-registration document through email.
After registering a firm and getting Udyam Registration, one could enjoy several benefits. The best aspect of getting Udyam Registration is that the process is straightforward, and one does not need to deal with any paperwork. Consider the top advantages:
● Udyam registration assists in securing government tenders
● With the help of Udyam, bank loans have an extremely low-interest rate (up to 1.5 percentage points lower than regular loans).
● There are several tax credits available to Udyam.
● Obtaining permits, permissions, and registrations becomes simpler regardless of the business sector. Businesses established under Udyam are given more consideration for government licenses and certifications.
● They obtain simple access to credit at reduced interest rates.
● Udyams that are registered receive tariff subsidies and tax and capital subsidies.
● Registration reduces the costs associated with obtaining a patent or establishing a business.
Udyam Registration is only a government registration accompanied by a certificate of recognition and a unique number. This is to certify small- and medium-sized firms. You can also update Udyam certificate through the steps mentioned above.
The primary objective of the launch of this facility was to give a method for the government and provide the greatest benefit to small or medium-sized businesses or industries in India registered with MSME.
QUICK LINKSUPDATE UDYAM REGISTRATION
Lokesh Rawat, From Madhya Pradesh
Recently applied Udyam Certificate