The Central Government vide its notification dated 26.06.2020 notifies criteria for classifying the enterprises as micro, small and medium enterprises along with specified form and procedure for filing the “Udyam Registration” with effect from 01.07.2020. The new enterprises can file online registration form based on self-declaration without additional any documents or proofs. A brief gist of the notification is produced below for your reference.
#Note: Enterprise having multiple GSTIN listed against the same PAN shall be treated as one single enterprise for the purpose of calculating Investments and Turnover
Change in Status of Entity
Graduated (placed in next higher category) – either of the two criteria (Investment or Turnover) shall satisfy.
Reverse Graduated (placed in the lower category) – both the criteria (Investment and Turnover) shall satisfy.
Registration Procedure
For New Enterprise
Online registration shall be filed (accessible at https://udyogaadhaar.gov.in)
General KYC documents of entity shall be required like certificate of incorporation (in case of Company), partnership deed (in case of partnership), trust deed (in case of Trust) along with GSTIN, PAN Card and Aadhar number of Authorized person of the entity.
More than one Udyam Registration shall not be filed by any enterprise, and any default to it shall be a punishable offence.
For Existing Enterprise
Existing enterprises registered under EM-Part-II or UAM have to register again on Udyam Registration Portal on or after 01.07.2020.
Any existing enterprise registered prior to 30.06.2020 shall be reclassified and shall be valid only up to 31.03.2021.
Enterprise registered with any other organization under the MSME, shall register itself under Udyam Registration.
Transition Phase
Existing Entities shall update its information online including details of ITR and GST Return. On the basis of updated information, the status of the enterprise shall be recalculated. Failure to which shall result in status suspension.
In case of upward change, the enterprise shall maintain its current status till expiry of one year from close of the year of registration.
In case of downward change, the benefit of the changed status shall be provided from the beginning of the next financial year.
Facilitation and Grievance Redressal of Enterprise
Grievance Portal has been created where grievance can be submitted and appropriate solution shall be provided.
Grievance Portal can accessed through (https://champions.gov.in/MyMsme/grievance/Register_Grievance.aspx).
Source: Notification dated 26.06.2020 vide no. [F. No. 21(5)/2019-P&G/Policy (Pt-IV)]
