Ministry of MSME launch one-time scheme for faster registration for increasing UDYAM Registration.
Now MSME can do Registration with PAN and GST up to 31.3.2021, this is Transitional provisional.
Ministry of MSME had revised the definition of MSMEs and process of registration w.e.f. 1st July, 2020. It also launched a new portal for MSME/Udyam registration (https://udyamregistration.gov.in). Since then, the portal is working smoothly. In a major first, this portal is seamlessly integrated with CBDT and GST networks.
Now MSME registration is paperless, and Ministry has instructed all of its Field Establishments such as MSME-Development Institutes, MSME Technology Centers, NSIC, KVIC, Coir Board to extend full support to entrepreneurs for Udyam Registration.
Under the new definition, manufacturing and service MSMEs will be defined under a common metric that will be a mix of investment in plants and machinery or equipment and turnover.
BENEFITS OF REGISTRATION
The benefits of MSME registration is not extended to trading activities as trading companies, who just mediate to sell finished goods and create a link between manufacturer and customer.
BENEFITS OF MSME REGISTRATION:
Fees for Registration of MSME: No Fee for MSME Registration