Module: General Practice
Q83: Under the Udyam Assist Platform (UAP) launched by the Ministry of MSME, which of the following statements is NOT correct?
✅ Correct Answer: D
Statement D is not correct.
The Udyam Assist Platform (UAP) was specifically designed to formalize Informal Micro Enterprises (IMEs) who are often exempt from GST or do not file Income Tax Returns.
Requiring these documents would defeat the platform's purpose.
Instead, registration is done by Designated Agencies (like banks) based on the information they already hold, without requiring the informal enterprise to upload GST or ITR proofs.
The resulting Udyam Assist Certificate grants them Priority Sector Lending (PSL) status.
The Udyam Assist Platform (UAP) was specifically designed to formalize Informal Micro Enterprises (IMEs) who are often exempt from GST or do not file Income Tax Returns.
Requiring these documents would defeat the platform's purpose.
Instead, registration is done by Designated Agencies (like banks) based on the information they already hold, without requiring the informal enterprise to upload GST or ITR proofs.
The resulting Udyam Assist Certificate grants them Priority Sector Lending (PSL) status.