UDYAM (Udyog Aadhaar Memorandum) is a government scheme that provides recognition and registration to micro, small, and medium enterprises (MSMEs) in India. It is a voluntary registration process, and MSMEs can register themselves online through the Udyam Registration portal.
If you have registered your business as an MSME under Udyam, but for some reason, you want to cancel your registration, you can do so by following the steps mentioned above.
Once you cancel your Udyam Registration Certificate, you will no longer be eligible for any benefits or incentives provided by the government to MSMEs. These benefits include subsidies, tax exemptions, loans at lower interest rates, and more.
It is essential to note that if you cancel your Udyam Registration Certificate, you cannot restore or recover it. Therefore, before canceling your registration, make sure it is what you want to do. Also, if you have availed any benefits based on your Udyam Registration, you must inform the relevant authorities about your cancellation and return any benefits received.
Details of Udyam Registration Cancellation
There can be several reasons why a business might want to cancel their Udyam Registration. Some of the most common reasons are:
- Closure of Business: If a business has decided to close down or cease operations. It may choose to cancel its Udyam Registration as it is no longer required.
- Change in Business Structure: If there is a change in the business structure, such as a merger or acquisition. The Udyam Registration may need to be cancelled and re-registered under the new entity.
- Incorrect Information: If the business has provided incorrect information during the Udyam Registration process. They may choose to cancel and re-register with the correct details.
- No Longer Eligible: If the business no longer meets the eligibility criteria for Udyam Registration, such as exceeding the turnover limit, they may choose to cancel their registration.
- Duplicate Registration: If the business has mistakenly registered multiple times, they may choose to cancel the duplicate registrations.
- Unhappy with Services: If the business is not happy with the services provided by the government under the Udyam scheme. They may choose to cancel their registration and opt-out of the scheme.
It is important to note that once a business cancels its Udyam Registration. They cannot restore or recover it, and they will have to re-apply for a fresh registration if required. Therefore, businesses must carefully consider their reasons for cancellation before proceeding.
What document is necessary to revoke Udyam’s registration?
To revoke or cancel Udyam Registration, no specific document is required. The cancellation process can be completed online through the Udyam Registration portal by following the steps mentioned earlier in this conversation.
However, to complete the cancellation process, you need to provide your Udyam Registration number and the one-time password (OTP) sent to your registered mobile number to authenticate your identity.
It is essential to note that canceling Udyam Registration is a one-time process, and once you cancel your registration, you cannot restore or recover it. Therefore, businesses must carefully consider their decision to cancel before proceeding.
If you have any doubts or concerns about canceling your Udyam Registration, you can seek guidance from a professional or contact the relevant authorities for assistance.
How do I cancel my Udyam registration online?
To cancel your Udyam registration online, you can follow these steps:
- Go to the Udyam Registration portal.
- Click on the “Udyam Registration” tab and then select “Udyam Registration – Edit / Update / Cancel” from the drop-down menu.
- Enter your Udyam Registration number and click on the “Validate & Generate OTP” button.
- Click the “Validate OTP” button after entering the OTP you received on your registered mobile number.
- Click the “Cancel Udyam Registration” option after logging in.
- A confirmation pop-up will appear, asking if you are sure you want to cancel your registration. Click on “Yes” to confirm.
- A message will be displayed confirming the cancellation of your Udyam Registration.
It is important to note that once you cancel your Udyam Registration. You cannot restore or recover it, and you will have to reapply for a fresh registration if required. Also, if you have availed any benefits based on your Udyam Registration. You must inform the relevant authorities about your cancellation and return any benefits received.
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If you face any issues during the cancellation process, you can seek guidance from a professional or contact the Udyam Registration helpdesk for assistance.
canceling a Udyam Registration Certificate is a straightforward process that you can complete online. However, it is crucial to understand the implications of canceling your registration and make an informed decision before proceeding.