Speed Post News Network
New Delhi : Even as the new Udyam Registration Portal (https://udyamregistration.gov.in) has evoked enthusiastic response amongst stakeholders, the requirement for registering on the portal have been further simplified by the government. The objective of the portal is to provide a single-page registration, consume less time, and simplify processes of registering any enterprise under MSME.
The definition and details, as given in the Notification dated June 26, 2020, had specified GSTIN as one of the mandatory conditions for registration on the Udyam Registration Portal, with effect from April 1, 2021. However, a number of representations were received from various MSME Associations stating that the measure of making GSTIN mandatory is impacting the registration process as many enterprises are exempt from the mandatory requirement of filing GST Returns as per the GST Act/notifications.
A significant proportion of MSME may have annual turnover less than the threshold limit for exemption from registration under GST Act. The matter has been examined and a notification was issued by the Ministry of MSME on March 5, 2021, to align the mandatory requirement for filing Udyam Registration with those for filing GST Returns, in the interest of those enterprises that are exempted from filing returns, according to a PIB release.
The Udyam Registration portal has been a roaring success with massive response from the stakeholders on account of its simplicity, objectivity and transparency, besides user-friendliness. As on March 5. 2021 (6.53 pm), the Udyam registration portal has achieved a total registration of 25,20,341.
This facilitation would further help various micro enterprises including skilled craftsmen and artisans and other enterprises in informal sector/unorganised sector to get the registration done easily. The proprietor may use his or her PAN for registration of the enterprise in the Udyam Registration Portal.