MSME / Udyam Renewal
Renew MSME Registration @ ₹ 1,499/-
-
With effect from 1st April 2021, the registered MSME is required to update the details from the Income Tax Return and the GST Return for the previous financial year on the MSME portal at the end of every financial year.
Consult with an Expert
It is a long established fact that a reader will be distracted by the readable content of majority have suffered alteration page when looking at its layout.
Important Disclaimer
We help you incorporate Companies in India at a reasonable fee and with complete transparency regarding the overall cost. Talk to our advisors to obtain an all-inclusive fee.
We are a professional consulting firm specialising in company registration, taxation, accounting, payroll, compliance, and intellectual property rights (IPR) services to assist new and existing businesses in India. We provide our professional services at a reasonable fee, explaining the eligibility, process, and documents required for setting up and maintaining a business. We also prepare and file necessary applications with relevant government agencies such as the Registrar of Companies (ROC) and the Income Tax Department. We do not directly provide government documents or represent ourselves as a government agency.
Are you a Professional?
Join as a Professional Partner & receive preferred rates on most ZeroBrokageTax offerings.
Get PSARA License Online - Easy & Simple Process
Obtaining a PSARA license is mandatory to start or continue a private security agency in India. The requirement is mentioned under the Private Security Agencies Regulation Act of 2005. PSARA License is issued by the Controlling Authority of the respective state government under whose jurisdiction the agency falls.
At Setindiabiz, we have an experienced team of legal professionals to guide and assist you in filing the online application for PSARA license. We have explained the concept, legal provisions, eligibility conditions, documentation and stepwise process of obtaining PSARA license here. Feel free to contact us if you need to seek to know more or require any kind of consultation.
Key Features of PSARA License :
- Startups Seeking Investors
- With Multiple Co-Founders
- Lowest Tax Rates
- Ability to offer ESOP
- IRS Tax Problems
MSME Renewal Eligibility
MSME Renewal Process must be opted by all registered MSMEs in India. A notification dated 26th June, 2020 makes it mandatory for them to update their previous year ITR and GSTR details annually. The details are used to reclassify MSMEs in the current financial year as per their updated investment, turnover, and export details. These details are auto-populated from the integrated Income Tax and GST databases on the portal.
What Details Can be Updated on the MSME Portal?
Besides the ITR details, other details of the MSME Certificate can also be updated at the end of the financial year. There are, however, a few exceptions as discussed below. All these details can be updated anytime of the year on a self-declaration basis. The details which can be updated in the MSME Certificate include:
|
|
What Details Cannot be Updated on the MSME Portal?
As mentioned earlier, almost all details of the MSME Certificate can be renewed or updated, except a few. These are the details which once submitted during MSME Registration remain the same throughout its validity, cancellation or voluntary surrender. Here is a complete list of such exceptions:
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
- Those dealing in merchandise with aggregate annual turnover exceeding Rs.40 Lakhs
MSME Renewal Date
Registered MSMEs must update their ITR and GSTR details by March 31st each year. Other than these, all other details of the MSME Certificate can be updated anytime of the year. Not updating the details of the MSME Certificate within the prescribed due date may lead to the cancellation of MSME Certificate.
Checklist for MSME Registration in India
The registration process for MSME Udyam Registration is fully digitalised and paperless. However, before you proceed to fill out the application form for the MSME Registration, you should prepare the following information so that it remains handy. The MSME is an Aadhar-based registration. Therefore, the aadhar number, which is linked with the mobile number of the owner or director of the business, is one of the key requirements
| Minimum Requirements | List of Documents |
|---|---|
|
|
How to Renew MSME Registration Certificate? - Stepwise Process
Wondering how to renew MSME Certificate Online? With our assistance, you can complete the MSME renewal process in 5 simple steps! Each of these steps are explained below for your clear and comprehensive understanding. Note that the entire MSME Certificate Renewal procedure can be completed on the official Udyam Portal.
Step-1: Visit the Online MSME / Udyam Portal
The documents required for GST Registration are based on the type of entity and the nature of its business activity. It is extremely important that all the documents required for online GST registration are prepared beforehand. This helps avoid any hindrance in the application process later. A complete list of such documents is mentioned in the section above.
Step-2: Sumit Udyam Registration Number & Validate Using OTP
GST registration for new business is an application-based process. The first part of the application seeks basic registration details. This includes type of entity, name of entity, PAN number, and the state / UT where the business operates. Providing these details enables successful registration on the GST Portal.
Step-3: Edit & Update Details
GST Registration in India is a PAN-based process. The applicant must provide his PAN details in the first part of the application. As mentioned earlier, the PAN must be linked to the applicant’s Aadhar, mobile number and email address for OTP verification.
Step-4: Submit the Updated Information
As soon as the PAN is entered, an OTP is sent to the linked mobile number and email address. After furnishing the two OTPs successfully, a Temporary Reference Number or TRN is generated. You can use the TRN for completing the application form further. Note that the TRN will be valid for 15 days only, so the process must be completed within this time period.
Step-5: Download the Updated MSME Registration Certificate
Sign in to the GST portal using the TRN and access the GST REG-01 application form. Complete the form by filling in the requisite details and uploading the requisite documents. This includes information about the business, promoters/partners, location of the business, products/services, and authorised individuals. Upon completing the form, verify it using the authorised signatory’s DSC or EVC.
Step-6: Issuance of GSTIN
Upon submission of all the details and documents, the application is processed in approximately 10 to 15 days. After successful verification of the form, the department allots a unique GSTIN to the applicant business. This GSTIN can further be used to check GST registration status and fulfil all GST-related compliances.
The Branch Office can carry out only permitted activities.
At ZeroBrokageTax, we legally assist small businesses and MSMEs acquire and renew their Udyam Registration Certificates. Our services include determining the eligibility of your enterprise for MSME renewal. We also provide documentation assistance, and submit the complete application for MSME Certificate Renewal Online. Our team tracks the status of your application and provides you with the updated MSME Certificate in no time!
|
|
MSME Renewal Benefits
Understanding MSME Renewal benefits will give you a clear insight into how crucial this process is for registered MSMEs. Registered MSMEs must renew their MSME Certificates annually, providing their previous year’s ITR details and GSTR filing status. This ensures the Government is aware of their MSME classification and current financial situation. Here are the 6 most important benefits of the MSME Renewal process in India!
Accurate Classification
The shareholders may be individuals capable of entering into a contract or legal entities.
Eligible for Government Schemes
Directors are tasked with overseeing operations and ensuring compliance..
Improved Credibility
One director must be a resident of India and stay there for at least 120 days
Seamless Compliance
The company name must be unique and distinct from others, whether a company or LLP.
Competitive Advantage
The company name must be unique and distinct from others, whether a company or LLP.
Timely Payment
The company name must be unique and distinct from others, whether a company or LLP.
Frequently Asked Questions
Let's Check Our Pricing Plan For You
Basic
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Standard
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Premium
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Premium
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller