#msme registered company list

[databasecompany]

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[udyamregister]

How to Update Udyam Registration Certificate Online: A Step-by-Step Guide

In India, the Udyam Registration is a crucial step for businesses, especially Small and Medium Enterprises (SMEs), to get recognized and benefit from government schemes and initiatives. Udyam Registration serves as a certification for an enterprise that falls under the micro, small, and medium categories. It is issued by the Ministry of Micro, Small, and Medium Enterprises (MSME) under the Government of India.

While Udyam Registration is a one-time process, there may be instances when business details need to be updated. This could include changes in the business name, address, type of business, or ownership. Updating the Udyam Registration Certificate ensures that the business remains compliant with the regulations and can continue availing itself of various government benefits.

In this article, we’ll walk you through the steps on how to update your Udyam Registration Certificate online and the various reasons why you might need to do so.

Why Update the Udyam Registration Certificate?

Before diving into the process, let's look at some of the common reasons why an enterprise might need to update its Udyam Registration details:

Change of Business Name: If a company undergoes a rebranding or changes its name, it’s important to reflect the new name in the Udyam Registration certificate.

Change in Address: If a business moves to a new location, it must update its address in the Udyam Registration.

Ownership Change: Any changes in the ownership structure, such as the addition of partners or a transition to a private limited company, must be updated.

Change in Business Activity: If a business switches or expands its activities, it should update its classification in the Udyam Registration to reflect the new scope of work.

Changes in Investment or Turnover: When the investment in plant and machinery or annual turnover crosses the limits prescribed for the MSME classification (micro, small, medium), businesses must update their Udyam Registration to avoid issues with government schemes and benefits.

Corrections in Data: Sometimes, errors or inaccuracies may exist in the registration details. Updating the certificate can correct these mistakes.

Also read : Print Udyam Registration Certificate Online

Steps to Update Udyam Registration Certificate Online

Updating your Udyam Registration Certificate can be done conveniently online through the official Udyam Registration portal. Below are the steps to follow:

1. Visit the Udyam Registration Portal

Start by visiting the official Udyam Registration portal This is where you can register a new enterprise as well as update the existing details.

2. Log in to the Portal

To update your Udyam Registration details, you’ll need to log in to the portal using your credentials. If you are already registered, you should have the User ID and password that you created during the initial registration. Enter your credentials and click on the login button.

If you have forgotten your login credentials, there is an option to reset your password through the portal. You will need to provide your registered mobile number or email ID to receive a password reset link.

3. Select the Update Option

Once logged in, look for the option that allows you to update your Udyam Registration details. This might be listed under sections such as “Update Udyam Details” or “Amend Udyam Registration”.

Click on this option to proceed with updating your information.

4. Make Necessary Changes

In the update section, you will be prompted to provide the details you wish to change. This can include:

Business Name: If you have changed your business name, enter the new name as per the official records.

Business Address: Update the registered office address, and provide proof of address such as utility bills, lease agreements, etc.

Ownership Structure: Update details of the business ownership, such as whether it is now a partnership, limited company, or a sole proprietorship.

Business Activity: Modify the nature of business activity or the industry type as per the latest business operations.

Investment and Turnover: If the business has seen changes in the investment in plant and machinery or turnover, update these figures.

5. Upload Supporting Documents

After making the necessary changes, you may need to upload supporting documents, especially for changes in business ownership, address, or investment figures. Common documents include:

A copy of the business’s new address proof

Updated financial statements (for turnover or investment-related updates)

New partnership deeds, incorporation certificates, or any legal document supporting ownership change

Ensure that the uploaded documents are clear, legible, and in the correct format as specified by the portal (usually PDF or JPEG).

6. Review and Submit

After making all the necessary updates, carefully review the details you’ve entered to ensure accuracy. Once everything is correct, click the “Submit” button.

You might receive an OTP (One-Time Password) on the registered mobile number or email address for confirmation of the changes. Enter the OTP in the required field to proceed.

7. Acknowledge the Updates

Once you’ve submitted the updates successfully, the portal will acknowledge the changes and provide an updated Udyam Registration certificate. You can download the new certificate from the portal directly.

8. Wait for Approval (If Necessary)

In most cases, the updates are processed immediately. However, if your updates require approval or verification by the authorities, there may be a short waiting period. The portal will inform you of the status of your update request.

Things to Keep in Mind While Updating Udyam Registration

Timeliness: Keep in mind that any changes in the business must be reported within a reasonable time frame. Failure to do so may result in non-compliance with government schemes and benefits.

Accuracy: Ensure that all the information you submit is accurate and backed by the necessary documentation. Incorrect information or forged documents can lead to the rejection of the update request.

Supporting Documents: Keep all the necessary documents handy for a smooth update process. These could include the certificate of incorporation, address proof, financial statements, etc.

Technical Issues: If you face any technical issues while trying to update your Udyam Registration, the portal has a helpline and FAQ section that can guide you.

Conclusion

Updating your Udyam Registration Certificate online is a straightforward process that ensures that your business remains compliant and eligible for various government schemes and programs. Whether it’s a change in the business name, address, or ownership structure, keeping the Udyam Registration up to date is important for maintaining the credibility of your enterprise and taking full advantage of the benefits available under the MSME sector.

[legalman1]

Guide to Proprietorship Firm Registration & PWD Rajasthan Registration.

For entrepreneurs venturing into their own businesses in India, setting up a sole proprietorship is often a preferred choice. With straightforward registration processes, low compliance requirements, and full control for the owner, a proprietorship is a practical option for small businesses. If you're considering starting a Proprietorship Firm Registration, here’s a complete guide on how to register your business, including the process for securing PWD Rajasthan registration for construction and related work.

1. What is Proprietorship Firm Registration?

Proprietorship firm registration is a way to formalize a sole proprietorship business, giving it a legal identity and recognition. This registration facilitates the business's smooth functioning, enables bank transactions, and builds credibility with customers and partners.

Single Ownership: Owned and controlled by one person.

Ease of Setup: Minimal legal formalities, quick setup, and fewer compliances.

Financial Flexibility: No need for a specific minimum capital.

A Proprietorship Firm Registration is an excellent choice for those seeking full control over their business operations without the complexities of company compliance.

2. Benefits of Proprietorship Firm Registration

Registering a proprietorship firm offers various advantages:

Legal Recognition: It provides official recognition, making it easier to work with banks and suppliers.

Complete Control: Since a proprietorship is owned by a single person, they have full control and decision-making authority.

Low Compliance Cost: Compared to other business structures, proprietorships face minimal compliance.

Tax Advantages: Certain tax benefits apply to proprietorship firms that can help reduce financial burdens.

3. Steps for Proprietorship Firm Registration

Here’s a step-by-step guide on how to Proprietorship Firm Registration in India.

Step 1: Choose a Business Name Select a unique name that aligns with your business. Make sure it doesn’t infringe on any trademarks.

Step 2: Apply for GST Registration If your firm has an annual turnover exceeding ₹20 lakh (or ₹10 lakh in some states), GST registration is mandatory. GST compliance also helps build business credibility.

Step 3: PAN and TAN Application A PAN card is essential for all tax purposes. Additionally, if you need to deduct tax at source for employees, you’ll require a TAN.

Step 4: MSME Registration Though not mandatory, registering under MSME (Micro, Small, and Medium Enterprises) can help you access government schemes, loans, and subsidies.

Step 5: Bank Account Setup Open a current bank account in the firm’s name. This account will help streamline your finances and make business transactions smoother.

Step 6: License and Permit Requirements Depending on your business sector, check if there are specific licenses or permits needed (like a shop and establishment license).

4. What is PWD Rajasthan Registration?

For businesses in the construction industry, PWD Rajasthan Registration is essential for bidding on government contracts in Rajasthan. The Public Works Department (PWD) of Rajasthan requires registration for contractors who wish to participate in public projects. This ensures only qualified contractors are allowed to take on public construction and infrastructure projects.

5. Steps for PWD Rajasthan Registration

To become a registered contractor with PWD Rajasthan, follow these steps:

Step 1: Eligibility Check Make sure you meet the necessary eligibility criteria. This includes experience in construction work, availability of required equipment, and qualified personnel.

Step 2: Document Preparation Gather all the necessary documents. These usually include:

Proof of identity and address

Financial statements

Experience certificates

List of equipment and manpower

Step 3: Fill the Application Form The PWD registration form is available online on the official PWD Rajasthan website. Fill it with accurate details about your firm, services, and expertise.

Step 4: Submit Application and Fees Submit your completed form along with the registration fees. You may also need to submit documents in person for verification.

Step 5: Await Verification and Approval Once your application is submitted, PWD authorities will verify your credentials. Upon successful verification, you’ll receive your registration certificate, allowing you to participate in government tenders and contracts.

6. Why is PWD Rajasthan Registration Important?

Securing PWD Rajasthan registration allows proprietorship firms in the construction and infrastructure sectors to access opportunities with government projects, which offer steady work, credibility, and growth potential. Benefits of this registration include:

Access to Government Contracts: Eligibility to bid on state and local government projects.

Enhanced Credibility: Government-registered contractors enjoy a reputation of reliability and trustworthiness.

Financial Opportunities: Government projects provide a secure payment structure and often involve larger project scopes.

Conclusion

Registering a proprietorship firm in India is the first step toward formalizing your business. If your business involves construction or infrastructure, securing PWD Rajasthan registration opens doors to lucrative government contracts. This combination of registrations offers both independence and opportunities for growth in the public sector.

Legalman can assist with the entire registration process, ensuring you meet all the necessary legal requirements and that your journey into entrepreneurship is seamless. Whether it’s proprietorship firm registration or PWD registration, reach out to Legalman for expert assistance and start building your business on the right foundation.

[explorebusiness]

Document Checklist for GeM Registration: A Complete Step-by-Step Guide for Businesses

Introduction:

GeM the short form of Government e-marketplace is the electronic marketplace that was prepared by the Government of India to make procurement easier for public buyers as well as for registered sellers. Today, GeM has evolved as an alternative platform wherein vendors, suppliers, and business houses can sell their goods directly to government organizations. GeM registration will open up all those potential business opportunities which could make your business viable whether you are a seller or a buyer. Here is a complete checklist of the document for GeM registration, which would help in knowing the whole process and what kind of requirements are there for a smooth registration process.

1.Benefits of GeM Registration for Sellers:

• This will open access to a large government procurement market.

• GeM registration with Government Buyers with increased transparency.

• All tender and order processes also smoothen out

• Swifter payment cycles besides an administrative cost cut down.

• Direct as well as long-term contracts too to come out.

2. What is registrable on GeM?

Registration in GeM can be carried out by any Indian organization. These are -

Proprietary firm

• Partnership firm

• LLP

• Private and public limited companies

• Registered societies and trusts

• Startups and MSMEs

All of them can be an entrepreneur, service provider, or product seller. Now it is your turn to know what are those documents required for GeM Registration to make the process of registration smooth and without any hassle.

3. Documentary Checklist for GeM Registration:

Depending on the business entity type, the list of documents to be generated for GeM registration differs. This checklist further elaborates and sub-categorizes the kind of registrations.

A. For Individual Sellers /Proprietorship Firms

1. Aadhaar Card or PAN Card -Identity and address proof of person or Proprietor

2. Address proofs: Utility bills, bank statements, etc are valid address-related proofs for his/her case.

3. Bank Account details -Cancelled cheque or bank passbook.

4. Income Tax Returns: As a proof of income

5. Business Profile/Experience: Experiences in previous assignments or work with government or private organization

B. Documents required for Partnership Firms:

1. Photocopy of the partnership deed.

2. PAN Card of the Firm: PAN Card of the Organization

3. Address Proof: Electricity bill or office address on a lease agreement

4. Bank Account Details: Cancelled cheque or bank account statement

5. Registration Certificate: For the companies falling under the Indian Partnership Act.

C. Private Company and LLP Documents

1. Incorporation Certificate: RoC

2. MoA & AoA: Company incorporation documents

3. Company PAN Card: For identification purposes and tax purposes.

4. ID Proof of Signatory: Aadhaar/PAN of the authorized signatory.

5. Bank Details: Cancelled cheque or bank statement of the company's account.

6. GST Registration Certificate: Proof of the company's registration in India under the GST.

D. MSME, Start-Ups, Others

1. Udyam Registration Certificate: Udyam Registered.

2. DPIIT Recognition Certificate: Classified as a start-up.

3. Registration Certificate: Societies, trusts, or any other form of registered body.

4. Financial Statements: Balance sheet and income statement of previous two years,

4. Registration Procedure on GeM Portal: Step-by-Step Guideline

Once you have all the documentation available, if needed, begin getting registered there at GeM with the following steps :

1. GeM Portal: Log into the GeM official website and proceed with 'Seller Registration.'

2. Basic Information: Fill up your business name, address, e-mail id, and contact number.

3. Attachments of documents; attach the documents against checklists. Attachments in pdf and not more in size as prescribed.

4. Verification Process: It will verify all data/information concerning a particular company. Once GeM is done with its processes, then you qualify for inclusion.

5. Items Under Product/Service: The same shall be made available to a Government buyer once it's registered.

This is a straightforward process wherein registering with GeM will become pretty easy for the vendor; he would have thousands of procurements made by the government and available to him easily.

5. Some Common Mistakes To Avoid in GeM Registration

1. If any inappropriate information is related to the business or the submission of old documents, then time delay will take place in the process.

2. All the documents are prepared well in advance before applying for registration so there is no hassle at the last moment.

3. GST Registration Not Done: Sellers need to sell taxpaid goods and services. Sellers must at all times get registered under GST.

4. No updation: Update your GeM profile with all changes in the details of your business so the company does not fall short on the compliance aspect of GeM policies.

6. Conclusion: Streamline the GeM Registration Process

Register on a Government e-marketplace and thereby elevate your business substantially by getting an array of government buyers into your account. Once the company is suitably equipped with the knowledge of the checklist for registering through the document of GeM, then smooth sailing for the company and tapping into the available opportunities of GeM should be possible. An MSME is either new or old, and GeM may push it to sell more and increase profit volumes.

Apply now in just one click here Seller on GeM: Apply - Know how to register as a seller here today get expert support and makes the journey to onboard smooth and without hurdles.

[bidzprofessional]

In-depth Guide to Brand Registration on GeM: Procedure, Costs, and Required Documents

Introduction to Brand Registration on GeM

The Government e-Marketplace (GeM) is a vital initiative by the Government of India, providing an online procurement platform for government agencies and departments to purchase goods and services. As more companies strive to serve government clients, registering a brand on GeM has become an essential step for businesses to enter and compete in this market. GeM registration ensures credibility, facilitates procurement, and opens doors to business opportunities. In this article, we provide an exhaustive guide to the GeM registration procedure, costs, documents required, and insights into the benefits.

What is GeM Brand Registration?

GeM Brand Registration is the process by which companies register their brand on the Government e-Marketplace, enabling them to list products and services that government bodies can procure directly. Registering a brand on GeM brings numerous advantages, including increased visibility, credibility, and simplified access to government tenders.

Step-by-Step Guide to the Brand Registration Procedure on GeM

Create a GeM Seller Account

Begin by visiting the GeM portal and clicking on the "Sign Up" option.

Select the "Seller" category to initiate the registration process.

Complete the seller profile by entering all required details, including organization name, address, and authorized person’s details.

Verify the contact number and email address to activate your account.

Complete Profile and Upload Documents

Fill in the company's details, business category, and profile information.

Upload the essential documents, including PAN Card, Aadhaar, Udyog Aadhaar (if applicable), and business certifications.

It’s crucial to ensure that all information entered aligns with official records.

Submit Brand Approval Request

Once the basic profile setup is completed, apply for Brand Approval.

The application will require you to provide details about your brand, product categories, and descriptions.

GeM may request additional documents to verify your brand's authenticity.

Brand Approval and Listing Products

Upon successful submission, GeM officials will review the brand registration request.

Once approved, your brand will be live on the portal, and you can proceed to list products or services.

Ensure that each product listing adheres to GeM’s guidelines and specifications for faster approval.

Maintain Regular Compliance and Reviews

Maintain regular updates to ensure compliance with GeM's policies.

Regularly review product listings to match evolving government needs and procurement patterns.

Documents Required for Brand Registration on GeM

To complete the brand registration on GeM, specific documents are required. Here is a detailed list of essential documents:

Company’s PAN Card - A mandatory document to verify the business entity’s identity.

Aadhaar Card of the authorized signatory - Essential for identity verification of the person representing the brand.

Udyog Aadhaar or MSME Registration Certificate - Applicable if the business is registered under the MSME (Micro, Small & Medium Enterprises) category.

Certificate of Incorporation - Required for companies to verify their legal existence.

Product Certification - This could include quality certifications, test reports, or compliance certificates relevant to the product.

Trademark Registration Certificate (optional but recommended) - Provides authenticity and credibility to the brand.

Financial Statements or Tax Filings - Proof of financial stability may sometimes be requested.

Ensure all documents are authentic, up-to-date, and legible to avoid unnecessary delays.

GeM Registration Fees

GeM registration fees are generally structured to accommodate a wide range of businesses. Here’s an outline:

Basic Registration Fee - Signing up as a seller on GeM is typically free of cost, covering account setup and profile creation.

Brand Registration Charges - Certain brands may need to pay nominal fees based on the category, volume of products, or company size.

Transaction Fees - GeM may levy a minimal fee per transaction or sale on the platform.

Vendor Assessment Fees - For brands requiring third-party assessments (especially for technical products), additional fees are charged. The vendor assessment fee typically ranges depending on the complexity of the assessment.

Benefits of Registering a Brand on GeM

Registering a brand on GeM offers considerable benefits, especially for businesses aiming to secure government clients. Some of the key benefits include:

Direct Access to Government Clients - GeM provides a seamless channel to offer products and services directly to government bodies, reducing dependency on intermediaries.

Enhanced Credibility - Being listed on GeM adds a layer of credibility, as only verified and legitimate businesses can participate on the platform.

Transparent Procurement Process - GeM ensures transparency through a well-defined procurement process, minimizing risks of malpractices.

Increased Market Reach - Brands gain visibility across a wide network of government agencies, thereby increasing market reach and enhancing sales potential.

Efficient Payment Process - GeM's payment system is structured to streamline transactions, ensuring timely payments and reducing the risk of payment delays.

Opportunity for Small and Medium Enterprises (SMEs) - SMEs can participate on GeM and compete on an even playing field, with various schemes and supportive measures in place.

How to Maintain and Update Brand Registration on GeM

To maintain a compliant and updated brand profile on GeM, consider the following practices:

Regularly Update Product Listings: Ensure product details, prices, and availability are up-to-date to avoid issues with orders.

Monitor Feedback and Reviews: Actively engage with customer feedback to maintain a positive rating.

Stay Informed on GeM Policy Changes: GeM policies and procurement guidelines may evolve, so stay updated to ensure continued compliance.

Update Certifications and Licenses: Renew and upload updated certifications, as expired documents can lead to listing suspension or removal.

Conclusion

In conclusion, registering your brand on GeM is an invaluable step for companies looking to enter the government procurement market in India. This comprehensive guide has covered essential steps, required documents, fees, and benefits associated with GeM brand registration. Following the process diligently can help your business gain visibility, credibility, and access to lucrative government contracts. Make the most of this opportunity to expand your market reach and contribute to government projects.

[msmeregin]

What role Udyam Registration plays in Government Tenders and Contracts?

Introduction:

Udyam Registration is one of the most impactful initiatives by the Indian government toward enabling and supporting MSMEs. It acts like a catalyst or an easy gateway that provides businesses with easy access to numerous resultant benefits, especially while participating in government tenders and contracts. That is why business people, entrepreneurs, and new ventures look for this reach enhancement with a body of understanding of how Udyam Registration impacts the reach. It is on this account that the article covers why it is important, its benefits, and how to overcome registration barriers.

Role of Udyam Registration in Government Tenders and Contracts:

The Udyam Registration primarily caters to the needs of those firms that are willing to take up government contracts. The government has kept some procurement strictly for MSMEs, therefore permitting small firms and medium firms to level each other's fields. This way, business registration under Udyam benefits businesses when tendering happens in the following ways:

1. Accessibility to tenders is easy:

In return, the government will allow tenders on GeM and CP portals to be available to all registered companies under Udyam. These eventually turn out to be an immense backhand support for businesses to search for their prospects through tenders. Udyam Registration will further enable MSMEs to achieve prospects in construction, IT services, manufacturing sectors, etc.

2. EMD exemption:

The cost of providing EMD is prohibitively expensive for most of the entities. Most of the Udyam-registered MSMEs are exempted from furnishing EMD which saves them from front-end expenses and thereby removes one of the entry barriers in the tendering process. Small units will compete on a level playing field where they are not burdened with the cost of taking a large tender.

3. MSME Protection Procurement:

The other part of procurement is specifically kept aside by the Indian government for MSME. This policy will rejuvenate the growth of smaller firms as they will be made to feel that they shall be taken into account for services or products offered to government agencies. In Udyam Registration, it means must-req research into this very procurement, thus increasing the chances of winning the contracts.

4. Price Preference:

In tendering, the businesses registered and identified under Udyam have an upper hand over their competitors who did not enroll themselves. For example, it will be a little higher than the companies, but if it is within the price margins allotted, then they will prefer the MSMEs. Such treatment brings competitiveness among the MSMEs during the process of tendering.

Common Problems in Udyam Registration and the Way to Overcome Them :

Despite many gains through Udyam registration, most people face real hassles in the process of registration or processing. Here are some common problems and their way to overcome them :

1. Lack of Awareness:

• Problem: Many entrepreneurs and small business owners do not know about the process of Udyam Registration or its benefits.

�� SOLUTION: The registration process can be grasped by doing it through online tutorials, government-organized webinars, or MSME facilitation centers.

• PROBLEM: The registration procedure will involve some documents like PAN, Aadhaar, and business-related details. Small businesses face the problem of giving proper information.

• Solution: Obtain a list of documents beforehand to begin the process for registration. Registration may also be submitted by soliciting help from a service provider for registration also, in case problems are being faced

3. Technical Glitches at Udyam Portal:

Problem: Technical issue in case of a down server or uploading information on the Udyam Registration portal.

Apart from this, try to log in to portals during regular hours with proper internet connectivity, and at the same time, technical support is also provided by the government's side for any such problems.

Compliance and Utilization Tips for Udyam Services:

To receive all the benefits of Udyam Registration, these enterprises must update themselves with the rules and update their registration data periodically. Some compliance tips are as follows:

• Udyam business details update every Year: Every change in business details, such as any turnover or investment changes, is to be updated through the Udyam portal yearly.

• Low-Interest Loans: Loans that are given at a low rate of interest can be applied for simultaneously with loans for business or credit schemes while applying for the Udyam certificate.

• Tracking of the Tenders that are currently Tendered: It is a tracking, say, on the government tender portals such as GeM and CPPP for getting fresh opportunities whenever they are tendered.

Conclusion:

Udyam Registration is a strategic tool for getting mainstream access to MSMEs into Government Tenders and Contracts. In doing so, it facilitates easy access, exemptions, and preferential treatment from competitive barriers for small businessmen in and by the process. So, with all the benefits of the pursuit of Udyam Registration, there will be a compulsive demand on business persons to know the registration process and common issues, and they have to follow them. It is, therefore, an opportunity for the businessmen to avail the benefits at scale level as they are actively engaged in all government projects.

[fincrew]

Government Business Grants: What You Need To Know

Do you need funding for your startup? We'll explore something everyone dreams of free money or securing a grant from the government. The Malaysian government offers many financial aids and grants to help small and medium businesses. You can save your business from bankruptcy with these grants and financial assistance. You can also use it to boost the growth of your business. Here is a list of grants available to small and medium businesses in Malaysia.

Soft Loans For SMEs (SLSME)

If you're a startup or an SME that's relatively young, check out SLSME. With this business grant from the government of Malaysia, you can get up to RM5 million in funding. You will have access to the range of offerings based on the purpose of the grant, so the amount you can receive varies. To qualify for Soft Loans for SMEs, register as one of the following; - Small and medium-sized enterprises incorporated under the Companies Act of 1965. - Businesses incorporated under the 1956 Business Registration Ordinance. - Malaysians held at least 60% of the equity. - Possess a valid premises license. - Owns SMEs with a shareholding of no more than 20% held by public companies; if applicable, only. A significant focus of SLSME is the manufacturing industry and manufacturing-related services, excluding financial and insurance services. Wage Subsidy Programme (WSP 3.0) It is a financial aid program designed to help SMEs or enterprises registered with MCOs pay salaries and wages. Because of the pandemic, there was a reduction in income, so companies had to sack employees or reduce their payouts. A newly-introduced WSP 3.0 is for all companies to help these groups. There is an employee subsidy of RM600 available for every SME or MSME. Employees with a salary of more than or equal to RM 4,000 are eligible to make claims, and no more than 500 employees can. Targeted Loan Repayment Assistance (TRA) Malaysia's government launched the Targeted Loan Repayment Assistance (TRA) program to help small, medium, and micro enterprises hit by the epidemic. TRA is also available to individuals, solopreneurs, and SMEs. Following the pandemic, SMEs will have six months to repay their debts through Targeted Loan Repayment Assistance. If the loan bearer wants to pay the loan in three installments over three months, they can do so if the loan amount is up to RM 150,000. Alternatively, the loan bearer can extend the payment period to 6 months with a 50% monthly installment reduction. A Targeted Loan Repayment Assistance application is readily accepted. You must submit it to the bank that issued you the loan. A business doesn't need to maintain bank connections. Bumiputera Enterprise Enhancement Programme (BEEP) The Bumiputera Enterprise Enhancement Programme, better known as BEEP, is a specialized SME funding program in Malaysia aimed at helping Bumiputera SMEs become more competitive, resilient, and dynamic. They help increase productivity and offer solutions to SMEs by strengthening their core business and capacity. BEEP provides financing solutions to Bumiputera SMEs, including: - Training - Packaging and labeling - Certification and Quality Management System - Innovation - Advertising, Promotion, and Branding SMEs who qualify for this grant can apply through SME Corporation Malaysia. PERMAI Special Prihatin Grant (GKP) The Special Prihatin Grant is a grant that is available to micro, small, and medium-sized businesses. The funding is for assisting these businesses financially and helping them grow. First announced in 2020, the grant is available to micro, small, and medium businesses. You can receive RM 500 if you are a micro, small, or medium enterprise. According to the Malaysian government, one million businesses will benefit from the grant.

Bottom Line

Malaysian government grants intend to provide SMEs with access to help when needed. Government efforts aim to boost the economy. Thus, government grants are positioned and launched in a way accessible to businesses. These grants are easily accessible to all businesses needing financial assistance, and they maintain grant eligibility relatively. Additionally, government officials assist struggling businesses when they cannot apply. It is even possible for a company to leverage the benefit of a grant without even being registered. Read the full article

[jjtax]

Key Compliance Requirements For Startup And MSME

What is a Startup ?

Startups is a newly established company founded to develop or bing a unique product or service to market and make it irresistible and irreplaceable for customers.

What is an MSME & Its classification ?

MSME stands for Micro, Small, and Medium Enterprises. The criteria for the classification is as follows -

A. Micro Enterprises: Investment in plant and machinery or equipment does not exceed Rs. 1 crore and the annual turnover is up to Rs. 5 crores. B. Small Enterprises: Investment in plant and machinery or equipment exceeds Rs. 1 crore up to Rs. 10 crore and the annual turnover is between Rs. 5 crores and Rs. 50 crores. C. Medium Enterprises: Investment in plant and machinery or equipment exceeds Rs. 10 crores up to Rs. 50 crores and the annual turnover is between Rs. 50 crores and Rs. 250 crores.

Compliance specific to MSMEs

Section 9 of the MSMED ((Micro, Small and Medium Enterprises Development) Act defines specific companies for which MSME Form 1 is a crucial compliance. These companies submit MSME Form 1 once every six months to the Ministry of Corporate Affairs (MCA).

The listed companies are required to submit an annual return of outstanding payments of MSMEs to the Registrar of Companies (ROC) every year, which includes information on the amount due for payment and the reason for the delay. These companies can file MSME Form 1 only if their outstanding payment to MSME suppliers has exceeded 45 days.

MSME Form 1

The MSME-1 is a half-yearly return that the specified companies need to file regarding their outstanding payments to the MSME. In this manner, the ROC can keep track of the companies that have outstanding dues towards MSMEs and the MSME suppliers who need to receive payments. Specified companies are companies- 

That have obtained goods or services from the MSME. 

Whose payments to the MSMEs exceed 45 days from the date of acceptance or deemed acceptance of the goods or services.

Compliance with legal, financial, and regulatory requirements forms the very foundation of long-term sustainability and growth of any startup or MSME. These certifications establish customer trust and show commitment to meeting industry standards and regulatory requirements. Below is a list of compliance requirements for both startups & MSMEs :- 1. Business Registration and Licensing Company Formation Proper registration under the appropriate form, whether proprietorship, partnership, LLP, or a private limited company. The Companies Act, 2013 and the Limited Liability Partnership (LLP) Act, 2008, govern registrations in India and require startups to submit several documents, including the company’s Memorandum of Association (MoA), Articles of Association (AoA), LLP Agreement, proof of identity and address of the directors/partners and details of the registered office address. The registration process can be completed online through the Ministry of Corporate Affairs (MCA) website. A. Trade License: It means a trade or professional license that is required for the business by its nature. B. Industry Specific Licenses: These would correspond to the particular industry regulations addressed by restaurants, for instance, food safety aspects, or the environmental clearances required for a manufacturing unit. Registration specific to MSMEs - A. Udyam Registration: MSMEs must register on the Udyam Registration portal to obtain an MSME certificate, which is necessary to avail various government schemes, subsidies, and benefits. This replaces the earlier system of Udyog Aadhaar. B. Classification: Ensure your enterprise falls under the correct category (Micro, Small, or Medium) based on investment in plant & machinery/equipment and turnover.

2. Tax Compliance A. Income Tax: The concerned entity has to register itself for income tax and continue to comply with its provisions by filing returns on time and paying advance taxes. B. Goods and Services Tax (GST): If the turnover is more than the threshold prescribed under GST, then there will have to be registration under it. Timely filing of GST returns and payment of taxes. C. Other Taxes: Depending upon the business, there may be requirements of compliance in respect of other taxes such as excise duty, customs duty, or state-specific taxes. 3. Laboure and Employment Laws Employee Provident Fund If there are 20 or more employees, ensure compliance regarding employees - A. Employees State Insurance: Get registered under Employees State Insurance if it employs more than 10 employees and ensure medical benefits as required.  B. Employees' Provident Fund (EPF): Organisation with 20 or more employees must register for PF. However, smaller establishments can also register voluntarily to provide benefits to their employees. C. Minimum Wages Act: A minimum wage as concerned and prescribed by the law shall be provided to employees.  D. Employment Contracts: All employees shall be provided with formal employment contracts. Every employee shall have an employment contract that requires clearly stated working hours, leaves, and discharge conditions in compliance with labor laws.

4. Intellectual Property Rights (IPR) Trademarks Branding and logos are intellectual property and, hence should be registered as trademarks. A. Patents and Copyrights : If applicable, register innovative products or processes under Patents and original content under Copyright. B. Confidentiality Agreements: Use non-disclosure agreements to protect sensitive business information. 5. Environmental and Safety Regulations Environmental Compliance Ensure compliance with the environmental regulations on waste management, pollution control, and obtaining environmental clearances. Comply with the regulations at workplaces concerning fire safety, hazard management, and health of employees. 6. Financial Reporting and Audits Statutory Audits Conduct an annual statutory audit under the statute and ensure filing the financial statements with the regulatory authorities in a timely manner. A. Internal Audits: Develop internal audits to track the financial health and also adherence to the internal policies. B. Accounting Standards: Follow accounting standards laid down by the regulating bodies either under the Institute of Chartered Accountants of India or under the International Financial Reporting Standards. 7. Data Protection and Privacy Data Protection Data protection is becoming increasingly crucial for businesses in India. As a business, it is essential to implement data protection measures, such as secure storage of customer data and complying with data protection regulations such as GDPR, CCPA etc.

8. Anti-Money Laundering and Know Your Customer AML Compliance Put in place anti-money laundering policies and procedures, particularly in financial services. KYC norms for Customer Identification and Prevention of Frauds. 9. Corporate Governance Board Meetings Hold Board Meetings and compliances related to the Minutes of Meetings. Holding of AGMs and compliances related to Shareholders' Rights and Obligations. Certain categories of companies are required to appoint a qualified Company Secretary to look after compliance. 10. Sector-Specific Compliance Healthcare Compliance related to Health-related Regulations, Licensing, and Patient Confidentiality Laws. 

11. Compliance with Foreign Direct Investment FDI Norms Adhere to the FDI norms while taking foreign investment, which inter alia, includes reporting requirements and sectoral caps. 12. Consumer Protection Laws Fair Trade Practices Comply with the consumer protection Acts that ensure transparency and quality with fair pricing.

13. Corporate Social Responsibility Compliance with CSR If your business has a net worth of ₹500 crore or more, a turnover of ₹1,000 crore or more, or a net profit of ₹5 crore or more, comply with CSR obligations, including spending on social activities and filing CSR reports.

JJTax

[pmohantyblog]

Annual ROC Compliances for Private Companies in India

Under the Companies Act, all companies incorporated in India must file specific documents annually with the Registrar of Companies (ROC). These companies are crucial for compliance with Indian corporate laws and regulations. Failure to comply with these regulations can result in penalties and fines for the company’s officers, directors, or the company itself. Following are a comprehensive list of Annual ROC Compliances.

1. Board Meetings:

Description: Every company is required to hold at least four board meetings per year, and the difference between any two meetings must not be more than 120 days. In the case of one-person companies, dormant companies, small companies, and Section 8 companies, it is required to hold one board meeting in each half of the year, and the difference between two meetings must be more than 90 days. The first board meeting of a company must be held within 30 days of its incorporation.

Deadline: The notice for the Board Meeting must be sent to all directors at least 7 days in advance to their registered address with the company. This notice can be sent by hand delivery, post, or electronic means.

2. Disclosure of Interest by Directors (Form MBP-1):

Description: Directors are required to disclose their interests in other entities or businesses to avoid conflicts of interest.

Deadline: Must be disclosed at the first board meeting of the financial year.

3. Preparation of Minutes:

Description: Minutes of Meeting are records of the decisions taken during a meeting. Minutes provide a true and fair summary of the proceedings of the meeting, and they must be prepared according to secretarial standards 1 as approved by the Central Government . These minutes serve as evidence of what was discussed and decided in the meeting.

Deadline: Every company must prepare, sign, and keep minutes of every meeting within 30 days of the meeting’s conclusion.

4. Maintaining Statutory Register:

Description: According to the Companies Act, 2013, every company is required to maintain statutory registers, which must be kept at the registered office of the company in either paper or electronic form. These registers include:

Register of Members

Register of Debenture Holders/ Other Securities Holders

Register of Directors and Key Managerial Personnel and Their Shareholding

Register of Renewed and Duplicate Share Certificate

Register of Sweat Equity Shares

Register of Employee Stock Option

Register of Shares/Other Securities Bought Back

Register of Charges

Register of Loans, Guarantee, Security And Acquisition Made By Company

Register of Investment Not Held In Its Own Name By The Company

Register of Contracts With Related Parties And Contracts And Bodies, Etc., In Which Directors Are Interested

5. Return of Deposits (Form DPT-3):

Description: The e-Form DPT-3 is an Annual compliance form mandatory for companies to disclose their financial obligations, more specifically about deposits and the transactions related to them, annually in a time bound manner.

Deadline: On or before June 30th, every year.

6. Filing of form MSME-1:

Description: Companies must file e-form MSME-1 if they have purchased goods or services from MSME suppliers and the payments to these suppliers are overdue by more than 45 days from the date of accepting the goods or services. The purpose of filing this form is to ensure timely payment to MSMEs and to promote their growth and sustainability by providing a mechanism to track payments due from larger companies. Read E-form MSME-1 article to learn more. 

Deadline:The MSME-1 form is submitted to the MCA every six months. For the period from April to September, the due date is 31st October. For the period from October to March, the due date is 30th April.

7. DIR-3 KYC: Director KYC Submission:

Description: Directors must submit their KYC details annually through Form DIR-3, provided their Director Identification Number (DIN) was allotted by March 31st of that year and the status is ‘Approved’. Failure to file DIN eKYC results in a penalty of Rs. 5,000.

Deadline: It must be filed by September 30th for each year.

8. Conducting the Annual General Meeting (AGM):

Description: During the AGM, shareholders, directors, and Key Managerial Personnel gather to discuss and decide on various important matters pertaining to the company’s operations and to discuss the company’s performance, approve financial statements, declare dividends, and appoint or reappoint directors and auditors.

Deadline: The deadline for holding the Annual General Meeting (AGM) must be within 9 (nine) months from the end of the financial year for a company holding its first AGM. For subsequent AGMs, the deadline is within 6 (six) months from the end of the financial year, typically by September 30th.

9. Financial Statements Submission (Form AOC-4):

Description: This filing encompasses the submission of financial statements, including the balance sheet, profit and loss account, and cash flow statement, along with accompanying reports like the Director’s Report and Auditor’s Report.

Deadline: Within 30 days from the conclusion of the AGM.

10. Annual Return Filing (Form MGT-7/MGT-7A):

Description: The annual return offers a thorough overview of the company’s financial status, encompassing information about its shareholders, directors, and significant financial indicators. Companies other than OPCs and small companies must file Form MGT-7; on the other hand, OPCs and small companies must file Form MGT-7A.

Deadline: Within 60 days from the conclusion of the Annual General Meeting (AGM).

11. Appointment of Auditor (Form ADT-1):

Description: Companies must intimate the ROC about the appointment or reappointment of auditors in the AGM through this filing.

Deadline: Within 15 days from the conclusion of the AGM.

12. DIR-12: Regularisation of Directors at the AGM:

Description: This form relates to changes in the company’s directorship, encompassing the regularisation of additional director to director at the AGM.

Deadline: It must be filed within 30 days of the AGM.

Importance of Compliance:

Ensuring legal adherence by complying with the provisions of the Companies Act, 2013 and other relevant regulations fosters transparency and accountability in financial reporting and governance practices. This transparency builds trust among stakeholders and helps avoid penalties and legal repercussions for non-compliance.

Consequences of Non-Compliance:

Not meeting annual compliance requirements can lead to fines from regulators and even legal trouble, including prosecution and disqualification of directors. Additionally, if people think a company isn’t following the rules properly, it can hurt the company’s reputation, making investors nervous and hurting relationships with other businesses. 

Conclusion:

Annual compliances are important for companies to help them keep things running smoothly, make sure the company follows the rules, and maintain a good reputation. By doing these tasks well, companies show they’re transparent, accountable, and responsible. Additionally, they avoid getting into legal trouble, save money on penalties, and keep people’s trust. So, taking care of annual compliances isn’t just a legal duty; it’s a smart move for keeping everyone happy and ensuring the company’s success in the long run.

Would you like to file annual compliances for your company? Hurry up! Legal Terminus can provide valuable assistance in smoothly and efficiently handling these processes. Our experts ensure a hassle-free and timely transition, helping you fulfil your legal and regulatory obligations effectively. Reach out to us now to take advantage of our expert services and free consultation.

[professionalutilities1]

What is the eligibility for NSIC registration?

Eligibility for NSIC Registration: Business size: To apply for NSIC registration, the company must be a small or medium-sized organization (SME) with an annual turnover of less than Rs. 100 crore. Registration and Net value: The company must be registered with the Registrar of Companies (ROC) and have a net value of at least Rs. 25 lakh. Startups: MSMEs that have begun commercial production (startups) but have not yet completed one year of operation are eligible for one-year Provisional Registration. After one year, MSMEs may apply for full registration. Note: The provisional registration certificate is valid for one year and is provided to MSMEs up to a ceiling of Rs. 5 lakh.

Micro and Small Enterprises: MSMEs with an Udyog Aadhaar Memorandum (UAM) and a workshop, whether owned or leased, are eligible for registration. GST Registration: Any manufacturer or service provider with a valid GST number who meets the requirements listed above can apply for NSIC registration online. Capability: Eligible enterprises must have commercial and technological advancements to supply services to government entities such as defense, railways, public utilities, and central and state government departments. Traders are not qualified to register under the NSIC schemes.

[magazinesubs55]

Government e-Marketplace (GeM): Buyers and Sellers Meet at GeM Portal

The Government e-Marketplace, also known as GeM, is a transformative endeavor by the Government of India to improve openness, efficiency, and efficiency of public purchasing. GeM is an online marketplace that connects buyers and sellers to exchange products and services required by different government agencies and organizations.

GeM, which debuted in 2016, has transformed the conventional buying procedure by creating a user-friendly, transparent, and effective market. The portal provides a diverse range of products, from office supplies to advanced technology, making it an all-encompassing resource for every government procurement requirements.

Why GeM?

Transparency:  The platform ensures that every transaction are done fairly and transparently. Buyers and sellers meet at the GeM site, where each stage of the procurement process is documented and can be tracked in real time.

Efficiency:  GeM saves energy and time on product and service sourcing by optimizing procurement procedures. The site's sophisticated search and filter features help customers locate what they need quickly, while sellers can easily list their products and reach a large audience.

Cost-Effective: GeM uses the government's power of association to ensure that products and services are priced competitively. This not only saves taxpayer money, but it also ensures equal costs all suppliers.

Inclusivity: GeM is intended to be accessible to companies of all sizes, especially MSMEs. This inclusivity promotes a varied and competitive marketplace, which benefits buyers as well as sellers.

How It Works

Registration: All buyers (government entities) and sellers (vendors) must register on the GeM site. The registration process is simple and may be done online.

Product Listing and Search: Sellers publish their items or services on the platform, along with full specs. Buyers can use numerous filters to find the things they need.

Order and Payment: After selecting a product, the customer places an order through the site. The integrated payment system ensures that transactions are completed in a fast and secure manner.

Conclusion

The GeM platform is a game changer for public procurement. By guaranteeing that buyers and sellers meet via the GeM portal, we build a culture of trust, efficiency, and inclusivity. Whether you're a government official seeking for supplies or a vendor looking to extend your market, GeM has the appropriate platform for you.

In essence, the Government e-Marketplace connects buyers and sellers through the GeM portal, setting the path for a more transparent and efficient procurement process that benefits all parties.

[databasecompany]

Explore a comprehensive MSME list of companies for insights into diverse industries. Find potential partners, clients, and opportunities. Browse now

[udyamregister]

Documents Needed for Udyam Certificate Cancellation

The Udyam Registration online apply process in India has streamlined the process of registering micro, small, and medium enterprises (MSMEs) and provides businesses with numerous benefits, such as access to government schemes, subsidies, and easier access to credit. However, there might come a time when a business owner decides to cancel or deactivate their Udyam certificate. The reasons for this could vary, such as the business shutting down, a change in the business structure, or no longer meeting the criteria for MSME classification.

To cancel a Udyam certificate, businesses must follow a systematic process and provide specific documentation to the authorities. In this article, we will discuss the necessary steps and documents required for Udyam certificate cancellation, along with other important details related to the process.

What is Udyam Registration?

Udyam Registration is an initiative by the Ministry of Micro, Small, and Medium Enterprises (MSME), aimed at simplifying the process of MSME registration. The registration is done through an online portal and businesses are categorized into three main categories based on their annual turnover and investment in plant and machinery.

The Udyam certificate serves as an official recognition for a business as a micro, small, or medium enterprise. It entitles businesses to various government schemes, tax benefits, and priority sector lending by banks.

Reasons for Udyam Certificate Cancellation

There could be several reasons for a business owner to cancel their Udyam certificate. Some of the common reasons include:

Business Shutdown: If the business ceases to operate or goes into liquidation, there would be a need to cancel the Udyam registration.

Change in Business Status: If the business no longer qualifies as a micro, small, or medium enterprise (e.g., it crosses the revenue or investment limits), it might no longer be eligible for MSME benefits.

Change in Ownership or Structure: If there is a change in ownership or the business is restructured (e.g., turning from a sole proprietorship into a private limited company), it may require de-registration and re-registration under the new structure.

Duplicate Registration: A business might have mistakenly registered more than once or there may be discrepancies in the registration information.

Voluntary Cancellation: In certain cases, the business owner might wish to voluntarily cancel the registration if the benefits are no longer relevant to their operations.

Step-by-Step Guide for Udyam Certificate Cancellation

The process of Udyam certificate cancellation is relatively simple, but it requires that certain steps be followed and the right documents be submitted. Below is a step-by-step guide on how to proceed:

Step 1: Log in to the Udyam Portal

To cancel the Udyam certificate, you must first log in to the official Udyam registration portal. Use the same login credentials (i.e., email ID and mobile number) that were used during the initial registration. If you have forgotten the login details, you can recover them via the portal.

Step 2: Locate the Cancellation Section

Once you have logged in, navigate to the section where you can view and manage your Udyam registration details. On the dashboard, look for an option to "Cancel Udyam Registration" or "Deactivate Udyam Certificate." This option may be listed under your registration details or settings.

Step 3: Provide the Reason for Cancellation

During the cancellation process, you will be prompted to provide a reason for the cancellation of your Udyam certificate. This could include business closure, change in status, or any of the other reasons listed above. You may be required to upload certain documents as proof of the reason for cancellation, such as:

Proof of business closure (e.g., a closure certificate, a board resolution, or a notice of dissolution).

Documents indicating changes in business structure or ownership, such as incorporation documents or partnership dissolution documents.

Financial statements that prove the business no longer qualifies as an MSME.

Step 4: Submit the Cancellation Request

After completing the necessary details and uploading the required documents, submit the cancellation request through the portal. The portal will generate an acknowledgment of your cancellation request, which you should save for your records.

Step 5: Verification by Authorities

Once the cancellation request is submitted, the Ministry of MSME will review the details provided. If they find everything in order, they will approve the cancellation request and deactivate your Udyam certificate.

This process may take a few days, depending on the workload of the ministry and the complexity of your cancellation request. If there are any issues with your request or documents, you may be contacted for additional information or clarification.

Step 6: Certificate Deactivation

Upon successful verification and approval, the Udyam certificate will be officially deactivated, and your business will no longer be recognized as an MSME. You will receive a confirmation email or notification from the Udyam portal regarding the cancellation.

Also read:- print udyam certificate

Documents Required for Udyam Certificate Cancellation

To successfully cancel your Udyam certificate, the following documents may be required:

Proof of Business Closure:

Closure certificate from the relevant authority (if the business is shutting down).

Board resolution or meeting minutes stating the business closure (if applicable).

Change of Ownership or Business Structure:

Copy of new incorporation documents if the business is changing its legal structure (e.g., from a sole proprietorship to a private limited company).

Partnership dissolution agreement (if applicable).

Proof of Not Meeting MSME Criteria:

Financial statements or balance sheets showing that the business no longer qualifies as an MSME (e.g., turnover exceeds MSME thresholds).

Other Relevant Documents:

Any other documents requested by the authorities to substantiate the reason for cancellation.

Important Points to Remember

Eligibility for Cancellation: Ensure that your business has ceased to meet the eligibility criteria for MSME status before you proceed with the cancellation. Otherwise, you may not be eligible for de-registration.

Impact of Cancellation: Once the Udyam certificate is canceled, you will lose access to benefits like subsidies, loans, and other MSME privileges. Make sure to evaluate the consequences of cancellation before proceeding.

Timeline for Cancellation: The cancellation process can take a few days to a few weeks, depending on the documentation and verification process. Ensure that you follow up if there is a delay.

Re-Registration: If you decide to resume operations or requalify for MSME benefits, you can apply for Udyam registration again through the same portal.

Conclusion

Cancelling your Udyam certificate download is a relatively straightforward process, but it requires careful attention to detail and submission of the correct documentation. Whether you're closing your business, changing its structure, or no longer meeting MSME criteria, ensuring that all documents are properly submitted will help avoid delays and complications.

[explorebusiness]

GeM Registration in India: Enhances Public Procurement for Businesses

GeM has been a powerhouse of initiative as far as public procurement is concerned in the Indian context. An online platform was created in 2016 that serves to connect government departments with businesses, enabling them to buy and sell products and services more effectively. Before GeM came into being, public procurement involved lengthy procedures, middlemen, and a lack of transparency. Today, GeM helps businesses, especially smaller ones, by providing direct access to government contracts, streamlining the process for both buyers and sellers.

Let's look at how GeM registration works, why it is important for businesses, and how it is reshaping public procurement in India.

What is GeM?

GeM is a web-based platform where firms can list their products and services for sale to government departments, PSUs, and other public bodies. The platform aims to make procurement easier by creating a unified buying process that is faster and more transparent. By eliminating middlemen, GeM ensures fair prices, timely payments, and reduces the complexity of purchasing for both the government and businesses.

For businesses, especially SMEs, GeM presents a great opportunity to connect with one of the largest buyers in India—the Indian government. With over 50,000 government buyers on the platform, businesses of all sizes can bid for contracts and expand their reach.

Why Should Businesses Register on GeM?

Access to Government Contracts Registering on GeM gives businesses direct access to government buyers. The government purchases a wide range of goods and services, from office supplies to IT services. Once registered, businesses can bid for tenders and supply goods or services to central and state governments, opening up a massive market that was previously harder to reach.

Transparency and Fair Play One of the main advantages of GeM is the transparency it brings to the procurement process. All bids are open to view by registered businesses, eliminating hidden deals and favoritism. This is especially valuable for small businesses, as it ensures equal opportunities to win contracts.

Smooth and Efficient Process The traditional public procurement process was often complicated, involving extensive paperwork and bureaucracy. GeM simplifies everything, from business registration to listing products, making it easier for businesses to offer their products or services without dealing with complex paperwork.

Faster Payments Cash flow is always a concern for small businesses. One of the best features of GeM is the assurance of timely payments. The platform ensures that once the government makes a purchase, payments are processed quickly and directly into the business’s bank account, providing a significant relief to those struggling with delayed payments in traditional procurement.

Support for MSMEs GeM is particularly beneficial for Micro, Small, and Medium Enterprises (MSMEs). The platform gives preference to MSMEs in many government tenders, with certain tenders reserved exclusively for them. MSMEs also enjoy price advantages in some cases, providing much-needed support to compete against larger companies.

How to Register on GeM: A Simple Guide

Registering your business on GeM is easy. Here’s a step-by-step guide:

Visit the GeM Website Go to the official GeM website: https://gemregister.org/ for all the information you need.

Seller Registration Look for the option to register as a seller and provide basic details such as your business name, address, and contact information.

Provide Aadhaar and PAN Details You’ll need to provide your Aadhaar number and PAN (Permanent Account Number) for verification to secure and validate your business registration.

Add Bank Details To receive payments, you need to provide your bank account details. Make sure the information is accurate, as payments will be directly transferred to this account.

Upload Documents Upload necessary documents, including your company registration certificate, tax details, and product/service information. After verification, you’ll be able to list your products and services.

Start Selling Once registered, you can start listing your products or services and bid on government contracts—it’s that simple!

How GeM is Changing Public Procurement?

Economizing Costs for the Government Competitive bidding on GeM reduces procurement costs for the government by eliminating middlemen and ensuring the best prices for goods and services.

Quicker Procurement The complete digitization of the procurement process has reduced delays. Government departments can now procure goods and services faster, essential for meeting deadlines and executing projects efficiently.

Data-Driven Decisions GeM provides the government with data to make better procurement decisions. Advanced analytics show which products are in demand, monitor prices, and ensure value for taxpayers' money.

Conclusion

GeM has transformed the way public procurement works in India. For businesses, it opens up an unprecedented opportunity to access government contracts, grow revenue, and simplify the sales process. Whether you run a small business or a large enterprise, GeM is a platform that ensures transparency, fairness, and efficiency.

If your business isn’t yet registered, now is the perfect time to take advantage of GeM. By joining the platform, you’re not only opening doors to new opportunities but also contributing to a more efficient and transparent procurement system in India.

[gemconsulting0]

GeM portal | GEM Registration Online

GEM Registration Online

The GeM provides an online end-to-end solution for the public procurement of goods & services which is initiated by the Ministries of Central Government, state government, and Public Sectors bodies.

You can upload your list of items on the GeM portal to get a trustworthy customer and to expand your business globally to bring more profit and recognition to your business startups.

GeM PORTAL:

GeM provides the entire procurement process from vendor registration to order Fulfillment and payment. It is a complete end-to-end contactless, cashless and paperless procurement process.

GeM enhances transparency and efficiency in the procurement process which ensures timely delivery and payment. -

Documents required for GeM registration-

Proprietorship -

Pan Card

Aadhaar Card

GST Certificate

MSME Certificate(if available)

Partnership Firm-

Firm Pan Card

Partner Pan Card (Key Person)

Aadhaar Card (Key Person)

Firm Gst Certificate

Firm Bank Account Details

Firm MSME Certificate (if available)

Company-

Company Pan Card

Director Pan Card

Aadhaar Card (Key Person)

Company Gst Certificate

Company Bank Account Details

Company MSME Certificate (if available)

Trust / Society-

Trust / Society Pan Card

Partner Pan Card (Key Person)

Aadhaar Card (Key Person)

Trust / Society Gst Certificate

Trust / Society Bank Account Details

Trust / Society MSME Certificate (if available)

GeM buyer registration step by step-

STEP 1: Online application submission on GeM registration online STEP 2: Fill the registration form step by step and choose the option of the BUYER to get registered as a buyer in the GeM portal. STEP 3: Complete the fee payment that is provided by the portal which is 100% secured. STEP 4: Expert will call to collect OTP and process your information. STEP 5: Registration will be successfully completed. STEP 6: After successful completion of registration, the registration credential will be delivered to your registered mail account.

GeM Seller Registration step by step:

STEP 1: Online application submission on GeM registration online STEP 2: Fill the registration form step by step and choose the option of the SELLER to get registered as a SELLER in the GeM portal. STEP 3: Complete the fee payment that is provided by the portal which is 100% secured. STEP 4: Expert will call to collect OTP and process your information. STEP 5: Registration will be successfully completed. STEP 6: After successful completion of registration, the registration credential will be delivered to your registered mail account. STEP 7: Security money will be deposited by the owner. STEP 8: Catalogue creation is done by the owner.

GeM Registration sample certificate:

Conclusion

So, the Government is providing the best service through the GeM to both buyer and seller which will give them better scope in the e-marketplace and also a better opportunity to expand their business. So if anyone wants to sell or buy the goods and services they can easily register in the GeM registration portal to use the service with better transparency, security, and also better opportunity than others. Our main key is to provide great service to our customers with an extraordinary team which will give you better recognition in your startup and business.

[msmeregin]

Renewal and Validity of Udyam Registration: Everything You Need to Know About Your Business

Thus, through the Udyam Registration, MSMEs in India get streamlined access to various benefits and support from the government. Probably, a lot of business owners might not understand too well the renewal and validity aspects of their registration. Find here a very detailed overview of the validity and renewal process along with some compliance tips that will ensure your Udyam Registration remains active and beneficial for your business.

1. Udyam Registration Validity:

The other very essential advantage of Udyam Registration is that it is easy; however, one needs to find out the duration for which it remains in force so that one does not violate it.

Permanent Registration: In a regular situation, once a Udyam Registration is made, it is permanent. The earlier Udyog Aadhaar would not require renewal every year as was the case.

• Renewal: While there is no fixed renewal term, the enterprises are required to change their details if the category is changed from micro, small, or medium or if there is a significant deviation in investment and turnover.

2. When Do I Need to Renew My Udyam Registration?

Even though the registration is valid for life, under the following circumstances, one has to update to ensure that the registration is correct and accurate in terms of rules:

• Scale-up of Business: If your business enhances from a micro to a small or small to a medium category, you must update the registration in that direction.

• Change in Investment or Turnover: Since the MSME classification is based on investment in plant and machinery or equipment, and also by annual turnover, in case there are changes in either of the parameters, then the same should be updated on the Udyam portal.

• Ownership or legal form: This involves a change of ownership or legal form such as proprietorship to a private limited company. Then you would be required to update it at the Udyam portal.

Having an updated registration will ensure that your business remains eligible for other benefits and subsidies.

3. Common Issues Experienced During the Udyam Registration Process

Although the Udyam Registration process is simple, the businesses often face problems related to registration and compliance:

• Information Inconsistencies: Misaligned data in government data centers (for instance PAN and Aadhaar) can sometimes cause a delay in the process

• Technical Issues: Technical flaws on the servers or technical lag on the portal can, at times, impede the registration process

• Documentation Issues: When the documents are not available or when an improper document that doesn't fall into the valid list is presented, the request is often rejected or delayed.

Tip: To prevent these obstacles, ensure that the information you enter for all of them aligns with your authentic records and have all the documents needed (PAN, Aadhaar, GSTIN, etc) ready before you start registering.

4. Compliance Tips to Maintain Udyam Registration Active

To maintain an active Udyam Registration and to continue staying in a position to enjoy the benefits availed under it, here are the compliance tips :

• Check Business Classification Periodically: Check your business classification from time to time and update it if your investment or turnover changes.

• Document Safeguard: You should have a digital and physical version of your Udyam registration certificate, and you should make updates right away if you have any changes.

• GST Compliance: Since the registration under Udyam is linked to GST registration for these specific categories of businesses, you may be saved from hassles regarding the status under the Udyam scheme due to GST compliance.

• Timely Changes: Any change in your address contact details or category should be updated on the portal without delay.

5. Renewal Process: Do You Have to Renew Udyam Registration?

Udyam registration technically does not require annual renewal like other business registrations do; though you are required to be proactive about updating the information of registration as your business evolves to keep it active:

• No Compulsory Renewal: The Indian Government does not demand renewal to this day. The registration continues in force while the concern is operational.

• Voluntary Updates: It is not a renewal procedure but an updating of the Udyam portal that ensures reflection upon the status of your business.

Take Away: Updating the portal is key to staying updated with the regulations in their changes. Though you're not obligated formally to renew it, periodic updating leads to compliance as well as exploitation of government schemes.

6. Significance of Updating the Udyam Registration

A current Udyam Registration ensures you trouble-free access to a wide range of benefits that can immensely help your business. These include

• Financial Benefits: Loans are available quite easily and with reduced interest rates, which can still be able to provide loans without collateral, and one can also be eligible for other subsidies.

• Tax Incentives: An updated Udyam Registration can help you avail of tax rebates and other benefits declared by the state or central government.

• Market Access: The MSMEs registered under Udyam enjoy benefits of preference in government tenders and procurement policies.

All these advantages reciprocate benefits to businesses in terms of staying compliant and keeping their Udyam Registration details current.

Conclusion:

Udyam Registration would provide permanent and hassle-free access to various governmental benefits for MSMEs. Though they do not need official renewal, business entities must update their registration to stay eligible for the same. All this dependency on the validity and renewal of Udyam registration will enable entrepreneurs to concentrate more on growth and not comply with too much of such hassles.

Keeping Udyam Registration Rules Up-to-Date Can Inform and Maximally Potentialize MSMEs Keeping updated with changes that are made to rules governing Udyam registration will help unlock your total potential and maximize the support of the program. Use the active and correct registration and continue to enjoy the assistance from the Udyam program.