Udyam Registration For LLP(Limited Liability Partnership) - MSME
The Government of India has introduced a new online registration process for the enterprise known as ‘Udyam Registration’ to register under the Ministry of MSME on July 01, 2020.
And as per the notification of the Indian Government, all existing enterprises registered under EM–Part-II or UAM (MSME/ Udyog Aadhaar) shall register again on the Udyam Registration portal on or after the 1st of July 2020.
Any Limited Liability Partnership (LLP) business that intends to establish a micro, small, or medium enterprise may file Udyam Registration online in the Udyam Registration portal.
Udyam Registration portal is a single-window portal, on self-declaration with no documents required to upload, papers, certificates, or proof.
And all the existing MSME enterprises and businesses must re-register/convert to Udyam on or before 31st March 2021 to enjoy the MSME Benefits.
What is Udyam Registration? When was it established?
Udyam Registration is a new single window, quick, and easy online process for enterprises registered under the Ministry of Micro, Small, and Medium Enterprises.
The new MSME registration process is a fully self-declaration, paperless portal, where with no documents. The new MSME registration portal is known as the Udyam registration portal.
After the Udyam registration, registered enterprises are given a permanent identification registration number which is known as the Udyam registration number (URN), and the e-certificate is known as the Udyam registration certificate.
The Udyam registration process was established on July 1, 2020. Any Limited Liability Partnership (LLP) enterprise can do the online registration process under MSME through this Udyam MSME registration portal.
Benefits of Udyam Registration for LLP(Limited Liability Partnership)
There are many benefits for a Limited Liability Partnership (LLP) for registering under Udyam. The Government of India is focusing on the growth of small-medium enterprises. A few of the Udyam benefits are listed below.
- Udyam registration certificate helps in getting the Government tenders
- Helps in getting low-Interest rate subsidies on bank loans
- 15% import subsidy on fully automatic machinery on bank loans
- Registered Udyam MSME, the enterprise gets tariff subsidies
- Collateral-free loans from financial institutes and banks
- Protection against delayed payments
- Exceptional beneficial reservation policies in the production/ manufacturing sector
- Ease of obtaining registrations, licenses, and approvals.
- Udyam Registered enterprise gets eligible for CLCSS (credit linked capital subsidy scheme)
- International trade fair special consideration
- Concession on electricity bills
- Stamp duty and registration fees waiver
- Compensation for ISO certification
- Direct tax laws rules exemption
- NSIC performance and credit rating fees subsidy
- Patent registration subsidy
- Barcode registration subsidy
- Industrial Promotion Subsidy (IPS) Subsidy Eligibility
Documents required for Udyam Registration for Limited Liability Partnership (LLP)
These are the important documents that are required for Udyam registration on the government portal:
- 12 digit Aadhaar Number
- PAN Number
- GSTIN Number
New Definition of MSME
Earlier, the MSMEs were defined on the basis of investments only, now the revised definitions will also include both turnover and investment of the company.
New Criteria for Classification of MSME - Micro, Small, And Medium Enterprises
An enterprise will now be classified as a Micro, Small, and Medium Enterprise on the basis of the following new criteria mentioned below:
|Enterprise||Investment in plant & machinery/equipment|
|Micro Enterprises||The investment in plant & machinery/ equipment does not exceed Rs 1 Cr and turnover does not exceed Rs 5 Cr.|
|Small Enterprises||The investment in plant & machinery/ equipment does not exceed Rs 10 Cr and turnover does not exceed Rs 50 Cr.|
|Medium Enterprises||The investment in plant & machinery/ equipment does not exceed Rs 50 Cr and turnover does not exceed Rs 250 Cr.|
Key Highlight of Udyam Registration
- Fully online process Aadhaar OTP based system
- It is a single-window registration portal
- No documents need to be uploaded
- No official Registration Fees, No Hidden Charges, No Bribe
- On Submission, instant registration no. is generated
- Udyam Registration Certificate (URC) will have a dynamic QR Code
- Lifetime Valid certificate
- No renewal of Registration
- Any enterprise can file Udyam Registration only once
- With one Aadhaar Number, only one Udyam registration is possible
- Enterprises that have Entrepreneur Memorandum or Udyog Aadhaar Memorandum registration certificate or any other registration issued by under the Ministry of MSME will also have to re-register themselves
Limited Liability Partnership (LLP) Apply for Udyam Registration Today!
After reading this article, you must have understood the process of registration, its benefits, and the significance of having a Udyam Registration Certificate for your Limited Liability Partnership (LLP) business.
Now the Udyam Registration online process is very simple and any applicant can easily register their Limited Liability Partnership (LLP).
The only legal document required to register a trade under UDYAM is the Aadhaar card, PAN card, and GSTIN which makes the online registration of the Udyam process extremely quick.
Just fill out the Udyam application form carefully and avoid any spelling mistakes. Udyam registration certificate makes sure that the Limited Liability Partnership (LLP) utilizes all the benefits the government provides to MSMEs.
You can visit udyam-registrations.org for getting your Limited Liability Partnership (LLP) business registered under Udyam, a professional Udyam registration expert who will process your registration on the Government Udyam registration portal at reasonable service fees.
As per the recent notification, for MSME or Udyog Aadhaar certificate holders, now mandatory to re-register again on the Udyam portal. Click here to re-register again on the new MSME Udyam portal.
Visit the website udyam-registrationsr.org for more information on related topics. In case of any queries, reach out to us just by filling up the Udyam inquiry form and one of our executives will call you through the MSME Udyam helpline number.