Udyog Aadhar Registration

Udyog Aadhar Registration - Process, Procedure, Document Required, Fees, Eligibility, Duration

To receive government benefits, any small, medium, or micro firm can register as MSMEs under Udyog Aadhar. An Udyog Aadhar certificate is given to the business owners when they register as MSMEs. A twelve-digit unique number is also provided by the Government which is used as an identification number for all small and medium enterprises to conduct business. Also known as MSME registration, Udyog Aadhar helps micro, small, and medium companies flourish on a huge scale while also protecting them from financial exploitation by large corporations.

Small businesses that have registered for Udyog Aadhar would be eligible for a variety of benefits such as availability of bank loans, tariff subsidies, waive of stamp duty and registration fees, government contracts availability, exemption from direct tax, and so on.

The Udyog Aadhar, however, has been changed to Udyam. New MSMEs must register and get an Udyam Certificate through the Udyam Registration Portal while the Udyog Aadhar Certificate-holding businesses must re-register and get the Udyam Registration Certificate.

Advantages under Udyog Aadhar Registration

Small and medium enterprises that have done Udyog Aadhar registration have several advantages such as:

• Bank loans are available at a reduced interest rate by MSMEs who have Udyog Aadhar registration.
• There are a variety of tax breaks and exemptions available for small enterprises which can show their MSME registration.
• Businesses having unique identification numbers can avail of tariff subsidies in addition to capital and government incentives.
• Licensing, approvals, and registration are all simplified for businesses with 12-digit unique identification numbers.
• For participating in an international trade show, small and medium enterprises will receive special consideration with Udyog Aadhar registration.
• Stamp duty and registration fees are waived for enterprises with MSME registration.
• Small enterprises will have exemptions from direct taxation with 12-digit unique identification numbers.
• With this certificate, exemptions are available when applying for government contracts by micro-enterprises.
• Electricity bills will be reduced for small businesses with MSME registration.
• Payment for acquiring ISO certification will be reimbursed if small businesses have Udyog Aadhar.
• Businesses with MSME registration can do hassle-free opening of business bank accounts.