Udyam Registration – MSME’s Classification
Dear Stakeholders & Friends,
On 1st of June 2020 a notification have been issued on the Criteria classifying the MSMEs of India as per the MSME Act.
- Udyog Aadhaar Memorandum (UAM) under the MSMED Act 2006 have been named as Udyam Registration as per the new notification issued by government.
- Classification of MSMEs as per the notification issued will be as follows, Either on Investment or Turnover is applicable.
MSME Classification Investment in Plant & Machines (or) Equipements Turnover Micro Does not Exceed 1 Cr Rupees Does not Exceed 5 Cr Rupees Small Does not Exceed 10 Cr Rupees Does not Exceed 50 Cr Rupees Medium Does not Exceed 50 Cr Rupees Does not Exceed 250 Cr Rupees
- In-order to recognise your enterprise under MSME classification, you have to initiate the “Udyam Registration” Process. Earlier it was Udyog Aadhaar Memorandum (UAM) Number, a unique number given for MSMEs.
Visit the website https://udyogaadhaar.gov.in/ and file Udyam Registration online, based on self-declaration with no requirement to upload documents, papers, certificates or proof.
- On registration, an enterprise (referred to as “Udyam” in the Udyam Registration portal) will be assigned a permanent identification number to be known as “‘Udyam Registration Number”. An e-certificate, namely, “Udyam Registration Certificate” shall be issued on completion of the registration process.
- The Investment value will be based on the Previous Year filed ITR (income Tax Return). The investment on Plant & Machinery shall include all tangible assets (other than land and building, furniture and fittings), means Core Production machinery.
- All existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st day of July, 2020.
Except for the above portal of Government of India and Government’s Single Window Systems, no other private online or offline system, service, agency or person is authorized or entitled to do MSME Registration or undertake any of the activity related with the process.
The Udyam Registration process is completely free and Easy Self-declaration. Don’t pay money to anyone for Registration.