Let us understand the process of how to cancel Udyam registration online on the Udyam registration portal.
In this blog, we cover the following topics:
What are the document required to cancel Udyam registration?
What is the process to Cancel Udyam Registration?
On July 1, 2020, the Union Minister of India initiated the new registration process for MSMEs. It was launched as a paperless registration system for the company of MSMEs by the Ministry of MSMEs. It's a fully online process that has simplified the operation. It is an online business registration mechanism that has a unique MSME registration service.
The Ministry of MSME has revised the definition of MSMEs and the process of registration w.e.f. 1st July 2020. It also launched a new portal for MSME/Udyam registration. Since then, the Udyam portal is working smoothly.
The new enterprise classification and registration process started on July 1. The registration procedure for small-scale companies is known, with effect from 1 July 2020, as Udyam Registration. And the registration to be done only on the Udyam registration portal.
The Udyam Registration Portal is a Government website, which is a public archive for small scale business registration and obtains a certified certificate known as the Udyam Registration Certificate.
The registered businesses under the new Ministry of MSME portal (ie Udyam Registration Portal) will receive URN (Udyam Registration Number), which is the permanent identification number and dynamic QR code. The website of the Government Portal and the company information can be accessible by approved business owners.
The new MSME/Udyam Registration online system unveiled by the Union MSME Ministry, w.e.f. 1 July 2020, has passed the Time & Technology test as more than 11 lakh MSMEs have already successfully registered themselves.
The Micro small medium Ministry made this portal seamlessly integrated with CBDT and GST networks as also with the GeM. Through this integration, now MSME registration (Udyam Registration) is a totally paperless exercise. Enterprises that are not yet registered, should register themselves to avail the benefits of the Ministry of MSME and other Government agencies.
The Ministry has ordered all its Field Establishments, such as MSME-Development Institutes, MSME Technology Centres, NSIC, KVIC, and the Coir Board, to extend full support to Udyam Registration entrepreneurs. Similarly, all District Magistrates and Centers for District Enterprises were asked to speed up the registration of MSMEs.
The Union Cabinet has authorized an updated definition of Micro Small and Medium Enterprises (MSME) to promote small business growth.
On the basis of the investment limit and the turnover size, the MSMEs were redefined. Medium units will now be described as firms with an investment of up to Rs 50 crore and a turnover of Rs 250 crore.
Micro Units: Companies with Investments up to Rs 1 crore & Turnover of below Rs 5 crore.
Small Units: Companies with Investment of up to Rs 10 crore & Turnover of below 50 crore
Medium Units: Companies with Investment of up to Rs 50 crore & Turnover of below Rs 250 crore (Revised)
|Micro||Not more than 5 Cr.||Not more than 1 Cr.|
|Small||Not more than 50 Cr.||Not more than 10 Cr.|
|Medium||Not more than 250 Cr.||Not more than 50 Cr.|
The package contains changes aimed at boosting companies with an emphasis on the micro-small and medium-sized enterprises (MSME) market. Check out here what all the steps to improve the MSME sector have been revealed, including the current concept and expanded investment limits.
Investment requirements have been updated upwards for MSMEs, with the adoption of turnover criteria; the differentiation between production and service firms has been removed.
The new registration process for MSMEs is completely online, paperless, and self-declaration based. No documents or proof are required for the registration of an MSME to be uploaded.
Udyam registration portal for MSMEs launched to help the small scale enterprise, during the COVID period. Some of the Government relief are mentioned below.
Released by Government on Atmanirbhar Bharat Abhiyaan, there are a total of 6 reforms to revive the MSME sector are:
In order to cancel Udyam registration collect these documents before continuing with the cancelation process of Udyam.
Simple process to cancel Udyam registration, follow this online process for cancelation of Udyam registration mentioned below.
Step 1: Visit cancel the Udyam registration website.
Step 2: Enter your information, such as a 16-digit Udyam Identification Number (URN), a registered mobile number, and an email address that was previously used to register for Udyam.
Step 3: Then, you have to select the choice of a registered phone number or email address to collect your OTP. The OTP will be sent to your preferred registered cell phone number or email address. And, for the application process, make the online payment.
Step 4: You will then receive a cancellation email message automatically at your registered email address within 1-2 working hours.
Now you have thoroughly understood the Udyam registration cancelation process.
Note: You need to share the OTP with the representative for further process (either on registered mobile or email).
Hoping you might have understood the cancel registration process of Udyam registration.
We are a private consultancy company in India, helping businesses to undergo registration, re-register, cancelation, editing services of Udyog Aadhaar/ Udyam/ MSME.
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