Ministry of MSMEs floats a detailed, consolidated Notification in the form of guidelines for classification and registration of an MSME, which shall be called as “Udyam” now on, accordingly, registration process to be known as “Udyam Registration”; Laying down the detailed criteria for classification of MSMEs and the procedure for registration and the arrangements made for facilitation in this process, Ministry states that henceforth, entrepreneurs, enterprises and MSMEs will have to refer only to this consolidated Notification for matters relating to classification or registration; Notifies that Udyam Registration can be filed online based only on the Aadhaar number, and on self-declaration with no requirement to upload documents, papers, certificates or proof, which is possible because the Udyam Registration process has been fully integrated with the Systems of Income Tax and GST; Further, states that the Udyam Registration process can be done online through the portal which will be made known to the public before July 1, 2020, i.e. the date from which this new arrangement is going to be effective; Ministry also notifies establishment of a facilitation and grievance redressal system for easing the registration process and further handholding of MSMEs in all possible manner, and states that, “…this is one more step towards fulfilment of Ministry’s commitment of making Indian MSMEs National and International Champions and to enable them to break their barriers and capture global markets.”: Ministry of MSMEs.
Best Regards,
Shabnam Merchant
Advocate
Mob:+91 9594605040
M/s. K K Associates
Advocates & Solicitors,
201/202 The Big Three Building,
2nd Floor, 88 Anandilal Poddar Marg,
New Marine Lines,
Mumbai 400 002
Tele: 022 22013730
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