Registrations on MSME portal Udyam cross 25-lakh mark, says government
The online portal, meant to ease registration of MSMEs, saw registration of 25,20,341 enterprises as of March 5.
March 08, 2021 / 08:30 PM IST
The ministry said the requirement for registering on the portal has been simplified further.
Registrations on Udyam portal have crossed 25-lakh mark, the Ministry of Micro, Small and Medium Enterprises said in a statement on March 8.
The online portal, meant to ease registration of MSMEs, saw registration of 25,20,341 MSMEs as of March 5.
The ministry said the requirement for registering on the portal has been simplified further. The objective of the portal is to provide a single-page registration, consume less time and simplify processes of registering any 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, the statement said.
A significant proportion of MSME may have annual turnover less than the threshold limit for exemption from registration under the GST Act. The matter has been examined and a notification has been 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, the ministry's statement added.
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, it concluded.