Earlier this month, the central government had announced to bring wholesale and retail traders under the ambit of MSME (Micro, Small and Medium Enterprises). With this, now it will be easy for wholesale and retail traders to take loans for business. However, for this they will have to register themselves on the self-declaration and cost-free platform Udyam portal. This portal is integrated with the Income Tax and GSTIN system, so that it automatically captures the details related to Income Tax and GST on filling the Aadhaar number / PAN. For registration on this, businessmen only need an Aadhaar number, after which a certificate is given to the MSMEs with a permanent registration number. This certificate has a QR code from which information about the enterprise can be accessed on the portal.
In this way register on the enterprise portal
- Visit the enterprise portal udyamregistration.gov.in
- For registration form click on New Registration on the homepage.
- Enter Aadhar Number and Entrepreneur Name.
- Click on ‘Validate and Generate OTP’.
- Fill the details required for the PAN verification step.
- The enterprise registration box will appear in which the required details have to be filled.
- After the registration is complete, you will get a message containing the registration number. This number will start with UDYAM.
Tatva Chintan Pharma IPO: Tatva Chintan Pharma IPO oversubscribed 17 times, last chance to place bids today
These are included under MSME
- Enterprises with capital investment up to Rs 1 crore and turnover up to Rs 5 crore are kept under micro enterprises.
- Enterprises with capital investment up to Rs 10 crore and turnover up to Rs 50 crore are kept under middle enterprises.
- Enterprises with capital investment up to Rs 50 crore and turnover of less than Rs 250 crore are kept under medium enterprises.
ITR Filing: How can it be beneficial to file income tax return even if the income is not taxable? Know some interesting reasons
MSMEs get many benefits
- For multiple activities of an enterprise, one time registration is required on the enterprise portal.
- You can take a loan under the Pradhan Mantri Mudra Yojana without any security.
- MSMEs get loans to start a new business under the Prime Minister Employment Generation Program.
- Under CGTMSE (Credit Guarantee Funds Trust for Micro and Small Enterprises), you can take a loan of up to Rs 2 crore without security.