In the current scenario, to enhance small-scale businesses in the country, the Indian government has started the UAM ( Udyog Aadhaar Memorandum process ). Earlier, the business entity has to get SSI Registration or MSME Loan Consultant For new business in Gujarat, Ahmedabad, India And for that, you needed to go through a lot of paperwork.
UAM is a self-declaration form, For its registration no need for any supporting documentation.
Note: ( Even though supporting documents are not required, Any central or state authority can ask any time for any documentation as proof of information provided in the UAM form).
Industries registered after getting registered with Udyog Aadhar receive the benefits of many different government schemes such as subsidies, easy loan approvals, etc.
Compulsory Registration for Existing Enterprise
- All existing enterprises have to reregister itself on the Udyam Registration portal on or after the 1st day of July 2020.
- Existing registered enterprises till 30th June 2020, shall be reclassified in as per new notification.
- All existing registered enterprises prior to 30th June 2020, shall continue to be valid only for a period up to the 31stday of March 2021.
Classification of Enterprises for UAM
As per revised definition, An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:–
| Sr. No. | Enterprises
|
Investment and Turnover | Limit |
| 1 | Micro Enterprises | Investment in plant and machinery or equipment; AND | does not exceed one crore rupees
(<Rs. 1 crore)
|
| Turnover | does not exceed five crore rupees
(<Rs. 5 crore)
|
||
| 2 | Small Enterprise | Investment in plant and machinery or equipment; AND | does not exceed one crore rupees
(<Rs. 10 crore)
|
| Turnover | does not exceed five crore rupees
(<Rs. 50 crore)
|
||
| 3 | Medium Enterprise | Investment in plant and machinery or equipment; AND | does not exceed one crore rupees
(<Rs. 50 crore)
|
| Turnover | does not exceed five crore rupees
(<Rs. 250 crore)
|
How to calculate the investment in Plant and Machinery for UAM
- Investment in plant and machinery or equipment is to be considered as per the previous year’s Income Tax Return filed under the Income Tax Act, 1961.
- If it is the first financial year of enterprise and previous year ITR is not available then the investment will be self-certified by the promoter of the enterprise and after completing the first financial year enterprise has to file its first ITR.
- The purchase cost of a plant and machinery or equipment shall be excluding Goods and Services Tax (GST), whether it is first hand or second hand.
How to calculate Turnover for UAM
- For the classification of micro, small or medium enterprise, Turnover has been considered after deducting Exports of goods or services or both,
- Total turnover and export turnover of the enterprise shall be linked to the Income Tax Act or the Central Goods and Services Act (CGST Act) and the GSTIN.
- If an enterprise has no PAN than the turnover will be self-certified by promoter up to 31st March 2021 and thereafter, PAN and GSTIN shall be mandatory.
Information required to be update
- An enterprise has to update its information related to ITR and the GST Return for the previous financial year online in the Udyam Registration portal,
- If Enterprise has not provided the relevant information to update within the period specified in the online Udyam Registration portal will render the enterprise liable for suspension of its status.
- classification of the enterprise will be updated on the bases of information furnished or gathered from the Government’s sources including ITR or GST return.
- Communication will be sent to the enterprise about any upward or downward category change in the status.
Registration Process for UAM
Aadhaar number of Managing person require as below :
- Proprietorship firm – proprietor,
- Partnership firm – Managing Partner
- Hindu Undivided Family (HUF) – Karta
- In the case of a Company / Limited Liability Partnership / Cooperative Society / Society / Trust, GSTIN and PAN of its authorized signatory along with its Aadhaar number shall be required.
- If any person wants to do registration for more than one industry then also he/she can do individual registration.
- If Wrong the self-declared documents and data provided, the Udyam Registration or update process shall be liable to such penalt
