Ministry of Micro, Small & Medium Enterprises vide its notification dated 6th August, 2020 has provided clarification on the existing Entrepreneurs Memorandum/Udyog Aadhar Memorandum (UAM) and regarding the New Udyam Registration.
- The enterprises registered under Existing Entrepreneurs Memorandum and the UAM prior to 30th June, 2020 shall continue to be valid only for the period up to 31st day of March, 2021 and will have to file for the new registration on the Udyam Registration Portal (https://udyamregistration.gov.in).
- UAM holders may edit or amend their details on the UAM Portal by 31st March, 2021. Those enterprises which have not entered the PAN number or Aadhar Card so far in the UAM Portal are hereby advised to obtain the Udyam Registration Number before 31st March, 2021.
- It is further clarified that for the valuation of Plant and Machinery or Equipment for all the enterprises, it will be the Written Down Value (WDV) as at the end of the Financial Year as defined in the Income Tax Act and not the Cost of Acquisition or Original price, which was applicable in the context of the earlier classification criteria.
The entire registration process is free of cost and it should be done only on and through the Government Portal.
Source: Ministry of MSME Notification| 06.08.2020