Over 42.5 million units, and comprising over 95% of the economic establishments within the country, the SME sector is that the foundation of India’s economic process . In fact, it’s liable for 45% of the entire Indian manufacturing output. To facilitate the efforts of this sector, the ministry of Micro, Small and Medium Enterprises India, in conjunction with the govt of India, launched the Udyog Aadhaar facility. If you’re wondering ‘What is Udyog Aadhaar?’, the solution is simple: it’s an identification system, almost like Aadhaar, but specifically for businesses. As an MSME/SME, you’ll enjoy special Udyog Aadhaar benefits through subsidies as its main purpose is to market the expansion of all businesses registered.
Udyog Aadhar is that the registration process for the businesses to list themselves under the Micro Small and Medium Enterprises category of the govt of India. Under this process a singular number is generated for every company and also they’re given a recognition certificate as a symbol of their registration. the most motive of this process is to supply maximum benefits of the Micro Small and Medium Enterprises category to all or any the businesses present in India and registered through Udyog Aadhar. The director, owner or proprietors of the only proprietorship company are alleged to provide their Aadhar details whereas all other companies including indebtedness partnership firms, partnership firms, private companies, etc. are to supply the Udyog Aadhar number.
Udyog Aadhar Registration process
The process of application is extremely simple and straightforward . the entire process is simple as compared to the initial process. Following are the rules to register your company under Micro Small and Medium Enterprises category via Udyog Aadhar.
Documents needed for the appliance of the Udyog Aadhar
- Name of the business owner along side his Aadhar number.
- Document stating the social category is selecting OBC, SC and ST.
- Name of the corporate along side the small print of the initial registration process of the corporate .
- Document supporting the sort of the organization
- Documents associated with the postal address and therefore the bank details.
- National Industrial classification code.
- Pan card details
These documents are to be uploaded online where required. If an individual isn’t filing the shape online then he will need to submit the documents with the overall manager of the concerned District Industries centre along side the dully filled form for the Udyog aadhar.
Benefits of Udyog Aadhaar
There are a numerous benefits of registering and getting a Udyog Aadhaar for your business.
Given below, may be a list of advantages derived from the varied schemes offered by the Ministry of MSME for the Protection, Growth and Development of the tiny enterprises. an equivalent benefits also can be availed by the Udyog Aadhaar holders and convince be very advantageous for them.
The benefits are as follows:-
- Protection against delay in payment.
- Fast resolution of disputes
- Collateral Free loans from bank
- Exclusive consideration for participating in international trade fair
- Octroi benefits
- Waiver of stamp tax and Registration fees
- Several Exemption under tax Laws
- Barcode registration subsidy
- Subsidy on NSIC Performance and Credit ratings
- Counter Guarantee from GoI through CGSTI
- Reduced rate of interest from banks
- 15% subsidy under CLCSS scheme for technology upgradation
- Exemptions while applying for state tenders
- Concession in Electricity Bills
- Reimbursement of payment made for obtaining ISO certification
- 1% exemption in interest on OD
- Increasing eligible loan limit for optimal reasons, from the quantity of Rs. 25 lakh to Rs. 50 lakh
- Raising the extent of guarantee cover from 75 you must 80 %
- Reservation of products for exclusive manufacturing by MSME/SSI
- Easier registration and approvals to get Licenses
- Eligible for IPS subsidy
- Preference in allocation of state tenders
- Excise Exemption Scheme
- Reduced rate of interest from banks
- 50% subsidy for patent registration
Above mentioned are a number of the advantages that a Udyog Aadhaar holder can enjoy. aside from these as and when there are new schemes introduced, an equivalent benefits also can be enjoyed by the Udyog Aadhaar holder.