The central government has now made it easier to register a new company under MSME
Deccanexpress online: NEW DELHI: The central government has launched a portal on July 1, 2020, to facilitate the registration of a new company under the Micro, Small, and Medium Enterprises (MSMEs).
The aim is to provide a one-page registration facility to those who want to start new companies, avoiding the difficult process of registration. Now people can register any company under MSME. This, not only eases the process of registration but also saves time.
According to the notification issued by the Center on November 26, 2020, GS-TIN (GSTIN) will be mandatory for registration on the portal, which will be effective from 1 April 2021. Now the Center has given relief to those who want to start a new company.
After the Center made GS-TIN mandatory, many MSME Organizations said that this is affecting the registration process. He said that many enterprises are exempted from the imperative of filing GST returns. At the same time, the annual turnover of many MSMEs are so low that they do not need to be registered under the GST Act. In such a situation, the imperative of GS-TIN for registration is becoming a hindrance.
The MSME Ministry, after investigating the matter, issued a notification on 5 March 2021, stating that GS-TIN will be mandatory for those filing GST returns. At the same time, those who are exempted from filing GST returns, while registering their company, will have to provide a Permanent account number (PAN) card.
The enterprise registration portal has received a great response from the businessmen. With the help of this portal, artists and handicraftsmen working in the unorganized sector are getting a lot of help. As of 5 March 2021, more than 25 lakh MSMEs have been registered on the portal.