MSME Relief: UAM Validity is Extended

MSME

The Udyog Aadhar Memorandum has been extended with the resource of the usage of the Ministry of Micro, Small, and Medium Enterprises till December 31, 2021.

The Udyog Aadhar Memorandum has been extended with the resource of the usage of the Ministry of Micro, Small, and Medium Enterprises till December 31, 2021.

To Know More Visit Here: Udyam Certificate

By notification No. 2347(E) dated 16.06.2021, the Ministry of Micro, Small, and Medium Enterprises (MSME) modifies actual notification No. S.O. 2119 (E) dated 26.06.2020, extending the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. This may want to allow holders of EM Part-II and UAM certificates to take advantage of provisions beneathneath awesome modern programs and incentives, inclusive of MSME`s Priority Sector Lending blessings.

Various MSME groups, economic institutions, and government ministries handling the MSME vicinity have submitted complaints to the ministry, outlining the issues encountered with the resource of the usage of MSMEs at a few levels withinside the COVID-19 epidemic.

Also, Read- udyam registration

Highlights include:

  1. Existing EM Part-II and UAM holders should transfer to the modern-day Udyam Registration system, which ended up live on July 1, 2020.
  2. The closing date for migrating to the modern-day webweb web page was set for March 31, 2021. 
  3.  This phase hobbies to help MSMEs, letting them get higher faster, grow their monetary hobby and create employment. 
  4.  A new webweb web page called “Udyam Registration” has been launched at the udyam registration portal. 
  5.  There isn`t anyt any fee to test the modern-day webweb web page, and the closing date for migration has been extended until December 31, 2021. 
  6.  Registration on the Udyam webweb web page requires quality a PAN and an Aadhaar number.
READ  5 Key Trends that Will Shape the Future of Surfactants Industry

AN IMPORTANT PRESS RELEASE:

The Udyog Aadhaar Memorandum has been extended with the resource of the usage of the Ministry of Micro, Small, and Medium Enterprises till December 31, 2021.

By issuing notification No. 2347(E) dated 16.06.2021, the Ministry of Micro, Small, and Medium Enterprises has modified the previous examination No. S.O. 2119 (E) dated 26.06.2020, extending the validity of EM Part-II and UAMs from 31.03.2021 to 31.12.2021. Holders of EM Part-II and UAMs can be able to take advantage of masses of modern-day programs and incentives, inclusive of MSME`s Priority Sector Lending blessings.

The stated change was made in slight of the issues encountered with the resource of the usage of MSMEs at a few levels withinside the modern COVID-19 scenario, similarly to representations obtained from awesome MSME associations, economic institutions, and government ministries worried with the MSME vicinity`s interests.

Existing EM Part-II and UAM holders should be able to transition to the modern-day Udyam Registration system, which launched on July 1, 2020, and take advantage of government schemes, paving the way for MSMEs to be reinforced and increase faster, resulting in the expanded monetary hobby and hobby creation.

GSTIN Not Mandatory for MSME Udyam Registration:

The government had previously said that PAN and GSTIN are compulsory for MSME Udyam Registration as of March 31, 2021, but has now eased the requirements and stated that the exemption from the GSTIN need might be in line with the terms of the Central Goods and Services Tax Act, 2017. It, in addition, said that if a proprietorship agency isn’t registered with the resource of the usage of any Central Government or State Government Act or Rule, the proprietor may additionally use his or her PAN to test withinside the employer on the Udyam Registration webweb web page and that for all one-of-a-kind styles of corporations, a PAN is required.

READ  Why Custom Eco-Friendly Boxes Important

Establishing a New Business:

  • Registration via the Udyam Registration portal could require an Aadhar Number.
  • All agencies which may be currently registered beneathneath EM–Part-II or UAM (and function as modern-day Udyog Aadhar) should re-test in on the Udyam Registration portal.
  • New requirements can be used to categorize corporations.
  • Business registrations are appropriate via December 31, 2021.

Recommended visit this blog – Udyam Registration Online Process

Procedures for After-Registration

  1. The corporations can be assigned an Udyam Registration Number (URN).
  2. Once a URN is assigned, corporations should amend their preceding year`s ITR and GST returns on the Udyam Registration portal.
  3. MSME recognition may be suspended if the information isn’t updated withinside the prescribed time range. 
  4.  Once the agency`s facts were modified, the recognition of the enterprise can be updated on the webweb web page.
  5. If the kingdom of the software program changes, a message should be made to the enterprise. 
  6.  If the agency`s recognition is upgraded, it should maintain its modern recognition for 12 months from the forestall of the registration year. 
  7.  If the agency`s recognition is changed lower, the agency`s recognition can be maintained until the perception of the economic year. The new recognition blessings will start on April 1st of the following year.

udyamregistration

Learn More →
error: Content is protected !! :)