What is Udhyam Registartion?
On July 1, 2020, the Union Ministry of Micro, Small and Medium Enterprises (MSME) launched a new procedure for MSME categorization and registration known as 'Udyam Registration'.
Msme Classification?
A micro, small and medium enterprise (MSME) is classified as below-
| Classification | Investment in plant and machinery or equipment | Turnover |
|---|---|---|
| Micro enterprise | Not more than INR 1 Crore | Not more than INR 5 Crore |
| Small enterprise | Not more than INR 10 Crore | Not more than INR 50 Crore |
| Medium enterprise | Not more than INR 50 Crore | Not more than INR 250 Crore |
Should Apply For Online Udyam Registration?
Anyone who wants to start a micro, small, or medium business can do so by filling out an online udyam registration form.
Required For Udyam Registration Online?
There is no need to upload any documents, certifications, papers, or proofs during the Online Udyam Registration application procedure because it is based on self-declaration.
For the registration procedure, the user will simply need to enter their 12-digit Aadhaar number, Pan card number, and business bank account data.
