Q. Consider the following statements regarding Udyam portal:
1. Registration under Udyam portal is based on self-declaration.
2. It is integrated with Goods and Services Tax Network (GSTN) as well as the government e-marketplace (GeM).
Which of the above statements is/are incorrect?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D

Both statements are correct 

  • Udyam registration portal was launched in 2020. It is an online self-declaration process for MSMEs. 
  • It simplifies the process of registering for any enterprise under the MSME category for them to avail benefits under various government schemes. 
  • Also, it is already integrated with the Central Board of Direct Taxes (CBDT), Goods and Services Tax Network(GSTN) as well as the government e-marketplace(GeM). 
  • As of July 2021, over 3.8 million MSMEs have registered on the Udyam portal.