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All about msme udyam registration ppt

1. 1. All about msme udyam registration
2. 2. About Us We are one of the best consulting firms doing udyam registration for past few years. We provide the best udyam registration service for start up as well as experienced firms. For more details please get in touch with us.
3. 3. Introduction Enterprises engaged in the manufacture, production, processing, or preservation of commodities, as well as those engaged in providing or supplying items rendering of micro, small, and medium enterprises, are defined as businesses that provide service up to a certain limit, as outlined below. Interpretation. It means only those enterprises are considered eligible for udyam registration which is either in manufacturing or in the manufacture, processing, or storage of commodities, or in the provision or delivery of services. To put it another way, firms that are primarily engaged in trading, such as buying, selling, importing, and exporting goods, are ineligible to apply for udyam registration.
4. 4. Interpretation. The union ministry of micro, small and medium enterprises had made the announcement regarding the new process of classification and registration of micro, small and medium enterprises which was launched on the 1st of July, 2020 under the name of ‘udyam registration’ through a notification on 26th of June. The micro, small and medium enterprise ministry launched a new portal for udyam registration www.udyamregistration.gov.in. This portal will assist you in guiding the entrepreneur through the process of learning what they need to know and doing what they need to do. Following the recommendations of the advisory council in this regard, the central government officially notifies certain criteria for classifying enterprises as micro, small, and medium enterprises, as shown in the table above.
5. 5. The above said notification dated 26th of June 2020 suppress all the notifications issued earlier on the following dates: a. Notification no. s.o.1702 (E), dated the 1st of June, 2020, new criteria for classification of micro, small and medium enterprises b. Notification no. s.o. 2052 (E), dated the 30th of June, 2017, mandatory filing of Udyog aadhaar memorandum by all micro, small and medium enterprises. c. Notification no. s.o. 3322(E), dated the 1st of November, 2013, extension of the non-tax benefits to micro, small and medium enterprises for 3 years d. Notification no. s.o. 1722 (E), dated the 5th of October, 2006, the cost of some items are to be excluded while calculating the investment in plant and machinery.
6. 6. Basis of calculation. Investment In-plant & machinery or equipment. 1. The cost of investment in plant, machinery, and equipment will be related to the cost of capital income tax return of the previous years filed under the income tax act of 1961. 2. In the case of a new business with no prior income tax return, the investment will be based on the promoter's self-declaration of the enterprise and such relaxation shall end after the 31st March of the financial year in which it files its first income tax return. 3. The terms "plant and machinery or equipment" and "plant and machinery or equipment of the enterprise" should have the same meaning as assigned to the plant and machinery in the income tax rules, of 1962 framed under the income tax act of 1961 and shall include all tangible assets other than land and building, furniture and fittings. Also read : Udyam online registration
7. 7. Basis of calculation (contd…) 4. The purchase that is invoice value of a plant and machinery or equipment, whether purchased first hand or second hand, shall be taken into account excluding goods and services tax, on a self-disclosure basis, if the enterprise is a new one without any income tax return. 5. The cost of certain items specified in explanation 1 to sub-section (1) of section 7 of the amount of investment in plant and machinery is not to be included in the computation. Suggested read : MSME certificate online
8. 8. Turnover. 1. Exports of commodities, services, or both are not included in the calculation turnover of any enterprise whether micro, small and medium for the purpose of classification. 2. Information about an enterprise's turnover and exports turnover must be connected to its revenue tax act or the central goods and services act and the goods services tax identification number. 3. The turnover related figures of such enterprises which do not have permanent account numbers will be considered on a self-declaration basis for a period up to 31st of March, 2021, and thereafter, permanent account number and goods services tax identification number shall be mandatory. Suggested read PRINT UDYAM REGISTRATION
9. 9. For classification, we used a combination of investment and turnover factors. 1. To classify an enterprise as micro, small, or medium, a composite criterion of investment and turnover must be used. 2. If an enterprise exceeds the ceiling limits specified for its current category in either the investment or turnover criteria, it will cease to exist in that category and be placed in the next higher category; however, no enterprise shall be placed in the lower category unless it falls below the ceiling limits specified for its current category in both the investment and turnover criteria. 3. All units with goods and services tax identification numbers listed against the same permanent account number shall be the turnover and investment data for all of these organisations will be perceived as if they were one business together and only the aggregate values will be considered for deciding the category as a micro, small and medium enterprise. Suggested read Update udyam registration
10. 10. Contact us Help line number 9264493879 Website https://udyamonlineregistration.org E-mail CARE@UDYAMONLINEREGISTRATION.ORG
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