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MINISTRY OF MSME EXTENDS VALIDITY OF UDYOG AADHAR MEMORANDUM

MINISTRY OF MSME EXTENDS VALIDITY OF UDYOG AADHAR MEMORANDUM

INTRODUCTION

The Ministry of Micro, Small and Medium-sized Enterprises (MSMEs) on Wednesday extended the period of validity of the Udyog Aadhaar Memorandum (UAM) and the Entrepreneurs Memorandum Part-II (EM-II) March 31, 2021, until December 31, 2021. The current international humanitarian law Ministry issued certificates Adam Mickiewicz University, and EM II are registered to them by the current international humanitarian law.

The UAM and, EM-II, holders can take advantage of the incentives and the performance of different systems, including in the priority sector lending and the benefits provided to MSMEs. However, in Ministry of Micro Small Medium Enterprise (MSME) issued a notification on June 26, 2020, and has changed the definition of the MSMEs. In this notification, the Ministry of MSME has introduced a new registration process, i.e. Udyam registration.

The Government has launched a new registration process on July 1, 2020. In a report published on June 26, 2020, it was determined that the existing MSME registration, i.e., UAM, or the EM-II, expires March 31, 2021. That is why consisting of UAM and EM-II, the owners had to submit an entry for the new Udyam registration on to the newly-created Udyam registration page, March 31, 2021, to receive benefits, and benefits given to MSMEs.

KEY HIGHLIGHTS

  • The existing EM Part II, and UAM holders in order to switch to the new Udyam operating system, which was launched on July 1, 2020.

  • The timeline has been given on the 31st of March 2021 to access the new portal. 

  • This step is aimed at strengthening MSMEs and leads to a more rapid regeneration and an increase in the level of economic activity and job creation. 

  • A new portal called 'Udyam Registration" has been launched at the https://udyamregistration.gov.in 

  • There is no cost for registration in the new portal and during the migration period-31.12.2021. 

  • Only PAN and AADHAR are required to register on the Udyam website.

"The above-mentioned change has been made, taking into account the complexity of MSMEs in the current situation with COVID-19, as well as the submissions of a variety of current MSME, associations, financial institutions, and government departments that are in the interest of the MSME sector,"

In order to continue to Udyam a registration, the Udyog Aadhaar number and/or the EM-II, Registration number, PAN, and Aadhar Number. The migration process is fully online. The Udyam registration portal will facilitate the classification and recording of 33,16,210 companies on the 17th of June of 2021.

CONCLUSION

However, the existing UAM, EM-II, may have to switch to the new Udyam registration by December 31, 2021. By filling the form Udyam registration, MSMEs are currently having the UAM and EM II registration will obtain the benefits of the government schemes, thereby helping them cope with the pandemic situation in India.

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Author:

Damini Nagar
Indore
B.A LLB from Indore institution of Law


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