Udyam registration further simplified

Even as the new has evoked enthusiastic response amongst stakeholders, the requirement for registering on the portal have been further simplified by the government. The objective of the portal is to provide a single-page registration, consume less time and simplify processes of registering any enterprise under MSME.

The definition and details, as given in the Notification dated 26.06.2020, had specified GSTIN as one of the mandatory conditions for registration on the Udyam Registration Portal, with effect from 01.04.2021. However, a number of representations were received from various MSME Associations stating that the measure of making GSTIN mandatory is impacting the registration process as many enterprises are exempt from the mandatory requirement of filing GST Returns as per the. Asignificant proportion of MSME may have annual turnover less than the threshold limit for exemption from registration under GST Act. The matter has been examined and a notification has been issued by the Ministry of MSME on 05.03.2021 to align the mandatory requirement for filing Udyam Registration with those for , in the interest of those enterprises that are exempted from filing returns.

Further, the portal has been a roaring success, with massive response from the stakeholders on account of its simplicity, objectivity and transparency, besides user-friendliness.As on 5.3.2021 (6.53 PM), the Udyam registration portal has achieved a total registration of 25,20,341.

This facilitation would further help various micro enterprises including skilled craftsmen and artisans and other enterprises in informal sector/unorganised sector to get the registration done easily. The proprietor may use his or her PAN for registration of the enterprise in the Udyam Registration Portal.

https://wealth4india.com/blogs/few-simple-steps-of-udyam-registration/