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Udyog Aadhaar Memorandum 202 (UAM) registrations are still valid for businesses that fall under the MSME category. The Udyog Aadhaar Memorandum (UAM) validity has been extended through June 30, 2022, according to the Ministry of MSME. This choice was made to make it easier for UAM holders to take advantage of the provisions of various programmes and incentives, including the advantages of MSME Priority Sector Lending.
An Overview of the MSME Notification
The original Notification number S.O. 2119 (E), dated June 26, 2020, has been amended by the Ministry of Micro, Small and Medium Enterprises (MSME), via Gazette Notification number S.O. 2134(E), dated May 6, 2022.
The Ministry has issued a change to Paragraph 7, which addresses registering current businesses, through this Notification.
According to a statement from MSME, businesses that were already registered before June 30, 2020 would only be valid as of June 30, 2022. The expiration date had previously been moved from December 31, 2021, to March 31, 2022.
The Udyog Aadhaar Memorandum’s legality (UAM)
The existing businesses that were registered before June 30, 2020, will only be active until June 30, 2022, according to this notification from the Ministry of Notification.
It is important to note that all current Entrepreneurs Udyog Aadhaar Memorandum (UAM) obtained up until June 30, 2020, will be valid until June 30, 2022.
In order to provide MSMEs time to transition to the new site and continue to receive government benefits, the MSME license’s validity, which had been increased from December 31, 2021, to March 31, 2022, has been extended.
The updated Udyam Registration system
As was previously reported, the MSME released Notification number S.O. 2119 (E) on June 26 of last year, modifying the definition of MSMEs and instituting a new registration process known as Udyam Registration.
Based on the investment in plant, machinery, or equipment, the Ministry has categorised the company as Micro, Small, and Medium under this Notification 2119(E). Anyone who wants to start an MSME must register online through the Udyam Registration platform. Additionally, the Notification covers the following protocols:
Combined investment and turnover standards for classification
- Investment in plant, machinery, or equipment calculation
- Turnover calculation Udyam MSME Registration procedure
- registration of current businesses
- Information updating and a transitional period on the Udyam Portal for enterprise facilitation and complaint resolution
Learn more about the Udyam Registration process and the MSME classification criteria.
The Udyog Aadhaar Memorandum’s legality (UAM)
The existing businesses that were registered before June 30, 2020, will only be active until June 30, 2022, according to this notification from the Ministry of Notification.
It is important to note that all current Entrepreneurs Udyog Aadhaar Memorandum (UAM) obtained up until June 30, 2020, will be valid until June 30, 2022.
In order to provide MSMEs time to transition to the new site and continue to receive government benefits, the MSME license’s validity, which had been increased from December 31, 2021, to March 31, 2022, has been extended.
Up until June 30, 2022, the current MSME registration (Udyog Aadhaar Number (UAN) or E.M.) would remain in effect.
Important Information for Udyog Aadhaar Memorandum Owners
As previously stated, after June 3, 2022, the current E.M. Part II and UAM registrations will no longer be valid. It is strongly advised that the entrepreneur file a new registration in the new Udyam Registration Portal. All businesses registered up until June 30, 2020 will be reclassified under this notification, according to the Ministry’s original Notification No. S.O. 2119 (E) dated 26.6.2020. To make the reclassification accurate and practical, the most recent information must be entered. The business owner should register again with Udyam Registration site.
Registration for Udyam
On https://udyamregistration.gov.in, interested businesses can register for free and without submitting any paperwork. The Udyam portal only accepts PAN and Aadhaar for reporting purposes.
Updating the Udyam portal’s current registration information
Up to 30.3.2022, current UAM holders may edit or modify their information on the Udyam portal. Businesses are urged to obtain the “Udyam Registration Number” well in advance of June 30, 2022 if they haven’t already submitted their Aadhaar or PAN numbers in the Udyam site.
What Is the Udyog Aadhaar Memorandum (UAM)?
The Udyog Aadhaar Memorandum (UAM) is a government scheme that helps businesses register with the government.
It is a simple, online process that allows businesses to register their company name, contact details, and other important information. The UAM also allows businesses to access a host of government benefits, including subsidies and tax exemptions.
The process is quick and easy, and can be completed in just a few minutes. So if you are starting a business, make sure to register with the UAM.
Why Should You Register Your Business With UAM?
By registering your business with the Udyog Aadhaar Memorandum, you will get access to a number of benefits.
Some of the benefits include:
- Easier Registration Process
- Single Window Clearance for All Approvals
- Tax Benefits
- Reduced Paperwork
Registering your business with the UAM is the best way to ensure that your business is compliant with the latest regulations.
How to Register Your Business With Udyog Aadhaar Memorandum
To get your business registered with the Udyog Aadhaar Memorandum, you will need to provide the following documents:
- A signed application form;
- A copy of your company registration certificate or memorandum and articles of association;
- A copy of your bank statement or any other proof of financial viability;
- A copy of your PAN card; and
- A copy of your GST registration certificate (if applicable).
What Information Do You Need to Register Your Business With UAM?
To get your business registered with the Udyog Aadhar Memorandum, you will need to provide certain information. This includes your business name, registered address, and contact information. You will also need to provide the details of your company’s ownership and management.
In addition, you will need to provide a copy of your business registration certificate and Proof of Address. You can find a complete list of required documents on the official Udyog Aadhar Udyog Aadhaar Memorandum website.
How to Update Your Business Information on the UAM
To update your business information on the Udyog Aadhaar Memorandum, you will need to provide the following documents:
- Proof of Business Address
- Proof of Identity (PAN Card or Passport)
- Proof of Entity Formation (Certificate of Incorporation or Registration)
- Proof of Existence (Articles of Association or Partnership Deed)
- EIN Number (for companies registered in the United States) or VAT Number (for companies registered in Europe)
- Bank Account Details
- Latest Balance Sheet and Profit and Loss Account
Conclusion
Contact Vakilsearch to get assistance registering your business and get the benefits of Udyog Aadhaar Memorandum.
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