How to Update Udyam Registration After Business Expansion
The Udyam certificate is essential for every entrepreneur in India. To update the Udyam certificate is simple. If you want to make changes in your business, like changing the firm name, contact details, ownership details and also investment details, these details are required to update the Udyam registration. After updating your certificate, you can access the government schemes.
The government initiative that provides a unique identification number to small businesses is based on their self-declared details, such as investment in plant and machinery or equipment, turnover, etc. The benefits of the Udyam Certificate are access to government schemes and subsidies, Easier access to loans and credit at lower interest rates, eligibility for MSME tenders, protection against delayed payments, and preference in government procurement policies.
Who is authorised to update the Udyam registration?
Updating the Udyam Registration Certificate is a process that should be undertaken by the authorised signatory of the enterprise, typically the proprietor, managing partner, or an authorised director.
This ensures that the information provided is accurate and legally binding. The Ministry of Micro, Small, and Medium Enterprises (MSME) emphasises that the registration and any subsequent updates should be carried out exclusively through the official Udyam Registration Portal. No private agencies or individuals are authorised to perform these activities on behalf of the enterprise.
Benefits of updating the Udyam registration after business expansion:
- Regular updates ensure you stay eligible for subsidies, tax benefits, and credit support programmes.
- Improved Loan & Credit Approval Chances: Banks and NBFCs check Udyam data when offering collateral-free loans, low-interest MSME credit lines. Having up-to-date turnover and investment details improves your credibility.
- Eligibility for Government Tenders: Many tenders require an updated Udyam Certificate and correct NIC code (industry type). Updating ensures you don’t get disqualified due to outdated or incorrect data.
- Protection Under MSME Laws: Updated details help in filing delayed payment complaints and getting priority in arbitration and also accessing legal support under MSME Samadhan Accura.
- Classification of Your Business: Your MSME classification (Micro, Small, or Medium) may change based on turnover, investment in plant & machinery, benefit eligibility, tax exemptions, and compliance levels.
- Supports Business Growth and Expansion: Updated NIC codes and business activities allow you to add new verticals, participate in new schemes and markets, and expand your operations without compliance issues.
Process to update the Udyam registration after business expansion
- Visit the Udyam registration portal.
- Click on “update Udyam registration”; you can view the “update details” of “update Udyam registration”.
- Logging in to the Udyam portal using your registration ID
- Enter the registration number and use OTP for authentication (you will receive the OTP on the registered mobile number which is linked with Aadhaar).
- To update the relevant details, such as enterprise name, plant address, business activity, investment or turnover, legal status of PAN and contact details.
- After updating the details to submit the updated form, you will receive the confirmation message. Ando, an updated certificate will reflect the changes once verified.
Why update Udyam registration after business expansion:
Several factors may change in your business expansion, like:
- Increase investment or turnover.
- Change in business activity. (like adding new products/services).
- Shift from micro to small or small to medium.
- Change in business address.
- Addition of new branches or units.
- Update in ownership, legal entity or contact details.
You Can Apply for Download Udyam Annexure Certificate Online Through Udyam Portal
Conclusion:
Updating your Udyam registration after expanding your business is essential to maintain the accuracy and credibility of your business in the ecosystem. It is used to access the government schemes, financial benefits, and compliance with legal requirements. To follow the simple steps to easily update your Udyam registration certificate. And also, it is used for future reference.
The benefits of the Udyam Certificate are access to government schemes and subsidies, Easier access to loans and credit at lower interest rates, eligibility for MSME tenders, protection against delayed payments, and preference in government procurement policies.
