We are all aware that back in June 2020, the Ministry of Micro, Small & Medium Enterprises had issued an official Gazette Amendment introducing the new system of Udyam Registration. Further it had also asked existing Udyog Aadhaar registrants to migrate to the new system within a stipulated time. The time to update has been extended ever since giving more and more time to existing Udyog Aadhar holders to migrate to the new system.
As per the recent circular issued by the Ministry of Micro, Small & Medium Enterprises, this time extension is going to end on 31st March 2022, after which the current existing Udyog Aadhar registered enterprises will no longer be valid and will have to obtain a fresh Udyam Registration or migrate their existing Udyog Aadhaar registration to the new system.
This is being done to make sure every enterprise has updated itself to the new system and thereby has access to all the new and updated benefits the Ministry wishes to provide to the Micro, Small & Medium Enterprises. Even though enterprises may argue that they haven’t been able to benefit much from the existing Udyog Aadhar registration, it needs to be noted that the old system had more constraints when it came to availing benefits and the ministry plans to tackle the same with the new and improved system of Udyam Registration. It is therefore urging the existing Udyog Aadhar Memorandum holders to update their registration and migrate to the new system of Udyam Registration.
Lets, try to answer our second question;
Why you should migrate your Udyog Aadhar to Udyam Registration?
The answer is straight forward and simple - to stay in the system. You want to make sure that all the hard work you put into your enterprise gets recognized by the system. This is exactly why you should get your Udyam Registration. The new system is different from the old system in the following ways:
The new system uses a QR Code to track and verify your registration certificate. It helps any agency tied with the government to verify your certificate and make sure of its authenticity.
The new system also automatically pulls data from the ITR and GST returns filed by your enterprise in order to categorize the enterprise into Micro, Small or Medium Enterprise. You no longer need to manually enter this data and prove it with documents as the same is auto populated by the system.
The new registration certificate can be used as an Identity Document for your enterprise at financial institutions like banks, etc.
Online access to majority of benefits passed on to enterprises having Udyam Registration Certificate is being enabled in the new system.
The above is a list of a few benefits enterprises which migrate to the new system get upon successful migration. There are many more benefits associated with the new system which will be updated and communicated from time to time.
The process to migrate your existing Udyog Aadhar Memorandum to Udyam Registration is very simple. Even if you don’t remember your old Udyog Aadhar details but are sure you had one, the same can be recovered using your basic information like mobile number or email address used at the time of that registration.
So go ahead and get your new and improved Udyam Registration by visiting this link: https://www.udyogaadhar.co.in/udyog-aadhar-to-udyam