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GST not mandatory for MSME Udyam registration, PAN card can be used
PrintThe requirement for registering on the Udyam Registration Portal has been further simplified.
The Modi government’s paperless portal to ease MSME registration was launched on July 1, 2020. The objective of the portal is to provide a single-page registration, consume less time and simplify processes of registering any enterprise under MSME.
As notified on November 26, 2020, GSTIN became one of the mandatory conditions for registration on the portal, effective April 1, 2021. Following this, several MSME associations stated that the measure of making GSTIN mandatory is impacting the registration process as many enterprises are exempt from the mandatory requirement of filing GST Returns as per the GST Act/notifications.
They also noted that annual turnover for several MSME might be less than the threshold limit for exemption from registration under GST Act.
The matter has been examined and the Ministry of MSME notified on March 5 to align the mandatory requirement for filing Udyam Registration with those for filing GST Returns, in the interest of those enterprises that are exempted from filing returns. And now, the proprietor may use his or her PAN for registering the enterprise.
Udyam Registration portal has received a massive response from the stakeholders on account of its simplicity, objectivity, user-friendliness and transparency.
This facilitation would further help various micro-enterprises, including skilled craftsmen and artisans and other enterprises in the informal sector and unorganised sector, to get the registration done easily.
As of March 5, the Udyam registration portal registered over 25 lakh MSMEs.
The Modi government’s paperless portal to ease MSME registration was launched on July 1, 2020. The objective of the portal is to provide a single-page registration, consume less time and simplify processes of registering any enterprise under MSME.
As notified on November 26, 2020, GSTIN became one of the mandatory conditions for registration on the portal, effective April 1, 2021. Following this, several MSME associations stated that the measure of making GSTIN mandatory is impacting the registration process as many enterprises are exempt from the mandatory requirement of filing GST Returns as per the GST Act/notifications.
They also noted that annual turnover for several MSME might be less than the threshold limit for exemption from registration under GST Act.
The matter has been examined and the Ministry of MSME notified on March 5 to align the mandatory requirement for filing Udyam Registration with those for filing GST Returns, in the interest of those enterprises that are exempted from filing returns. And now, the proprietor may use his or her PAN for registering the enterprise.
Udyam Registration portal has received a massive response from the stakeholders on account of its simplicity, objectivity, user-friendliness and transparency.
This facilitation would further help various micro-enterprises, including skilled craftsmen and artisans and other enterprises in the informal sector and unorganised sector, to get the registration done easily.
As of March 5, the Udyam registration portal registered over 25 lakh MSMEs.
Category : MSME | Comments : 0 | Hits : 1225
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