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Udhyog Aadhaar Reg./MSME
Micro Small and Medium Enterprises (MSME) Registration or Udyam Registration. Initially it was Udyog Aadhar or MSME Registration but later in the year 2020 Government of India changed its name and declared it as Udyam Registration.
According to Micro, Small, and Medium Enterprises Development (MSMED) Act in 2006, all the small, medium, and micro enterprises belonging to the manufacturing or servicing sector are eligible for registration under Udyam Registration. After registration under Udyam Registration Portal an enterprise will be assigned a permanent identity number to be known as “'Udyam Registration Number”. An e-certificate, namely, “Udyam Registration Certificate” shall be issued on completion of the registration process. Generally, it takes 2 to 7 working days to generate registration Certificate.
The motive behind Udyam Registration was to offer a way to the government to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via MSME through their Aadhar Card Number.
Who can Registered under Udyam Registration:
- Sole Proprietor
- Partnership Firm
- LLP (Limited Liability Partnership)
- Private Limited Companies
Limit of Micro Small and Medium Enterprises for both Manufacturing and Service :
- Investment: Upto Rs.1 Cr.
- Turnover: Upto Rs.5 Cr.
- Investment: Upto Rs.10 Cr.
- Turnover: Upto Rs.50 Cr.
- Investment: Upto Rs. 50 Cr.
- Turnover: Upto Rs. 250 Cr.
Benefits of Udyam Registration:
- Udyam registration helps in getting government tenders.
- Due to the Udyam, the bank loans become cheaper as the interest rate is very low (Upto 1.5% lower than interest on regular loans.
- Easy access to credit in lower interest rates
- Higher preference is given to businesses registered under Udyam for government license and certification.
- There are various tax rebates available for Udyam Registration
- Becomes easy to get licenses, approvals, and registrations, irrespective of the field of business.
- 50% concession in Government Fee of Intellectual Property Rights (IPR) (Patent, Copyright, Trademark) in India.
- Priority in Releasing Payment by Other Companies
Documents/ Information Required For Udyam Registration:
- Aadhaar No. of Proprietor/ Partner/ Director
- PAN of Proprietor/ Organisation
- GST Registration No.
- Phone No. linked with above mentioned Aadhaar
- Email Id of Organisation
Udyam Registration Process:
- Visit the Official Website of Udyam Portal
- Enter Your Personal Information
- Aadhaar and OTP Verification
- PAN Verification
- Filling Correspondence Details
- Fill the Bank Details
- Fill the Enterprise Details
- Select the NIC Code
- Enter No of Employees Working
- Select if interested in getting registered on Government e-Market (GeM) Portal
- Select interested in getting registered on TReDSPortals(one or more)
- Submit and get final OTP
- Print Certificate