Retail, Wholesale trade of items not covered under UDYAM Registration
SRINAGAR: The MSME Development Institute Srinagar under Ministry of MSME GOI organized the 12th online training session on Udyam Registration for the MSMEs of J&K dealing with manufacturing and services.
During the webinar, Assistant Director MSME DI Srinagar Saheel Alaqband explained the whole process through trial registration and informed MSMEs about the original govt. website from which registration can be done free of cost.
During the training, while discussing retail/wholesale trade, He stressed on the fact that Udyam registration is meant only for Manufacturing and Service enterprises and does not include divisions 45, 46 & 47 of NIC 2008 which deal with Wholesale and retail trade of Items as no such NIC code will be found on Udyam portal also during registration. The codes at sub-class/ 5 digit level 45200 and 45403 are exceptions in division 45 and are eligible for Udyam registration.
He said MSMEs should not select wrong NIC codes which do not reflect their actual line of activity in order to get the registration.
Alaqband said, till now the UT OF J&K has 14077 registered MSMEs under Udyam registration out of which 6904 belong to the manufacturing sector and 7173 belong to the service sector.