Udyam Registration/Udyog Aadhaar is a certification for micro, small, and medium enterprises operating in India. Udyam certificate is issued by the Ministry of MSME Government of India. it facilitates the development & promotion of enterprises through various benefits & schemes.
Who Monitors Udyam Registration?
It is governed by the MSMED Act 2006 in India under the Ministry of Micro, Small, and Medium Enterprises
- Micro Enterprises : It is an enterprise whose investment is < INR 1 crore and yearly turnover are < INR 5 crores.
- Small Enterprises : It is an enterprise whose investment is < INR 10 crore and yearly turnover are < INR 50 crores.
- Medium Enterprises : It is an enterprise whose investment < INR 20 crore and yearly turnover is < INR 200 crores.
Udyam Registration Process
Step 1: Visit on https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm
Click on “For new Entrepreneurs who are not registered yet as MSME” option.
Step 2: Enter Your Personal Information
Step 3: PAN Verification
Step 4: Filling Correspondence Details
Step 5: Fill the Bank Details
Step 6: Enterprise Details
Step 7: Select the District Industry Center and Accept the Declaration.
The Benefits of Udyam Registration
- 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 duty and Registration fees
- Several Exemption under Direct Tax Laws
- Barcode registration subsidy
- Subsidy on NSIC Performance and Credit ratings
- Reduced rate of interest from banks
- 15% subsidy under CLCSS scheme for technology upgradation
- Exemptions while applying for Government 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 amount of Rs. 25 lakh to Rs. 50 lakh
- Raising the extent of guarantee cover from 75% to 80%