Visit Online Udyam Registration Portal to Enjoy Udyam Registration Benefits. Here we have also discussed about udyam registration benefits.
On July 01, 2020, the government of India confirmed that all MSME (micro, small and medium enterprises) are to be known as Udyam. The registration process shall be known as Udyam Enrollment Registration. This process is based on self-declaration and there is no need for adding or uploading any document/certificate/paper. All existing Indian enterprises must register and be filed as an Udyam before 31 March 2021. To upgrade your older Udyog Aadhar Memorandum to Udyam registration you have to verify the PAN.
From the 1st of July 2020, any person in India who aspires to open a micro, small or medium enterprise, will have to file for the Udyam Enrollment Registration from the online udyam registration portals. As soon as the government reviews your application, you will be issued an Udyam Registration Number and an e-certificate.
For the protection and growth of small businesses in India, the Ministry of MSME guarantees numerous benefits once you have received your Udyam registration certificate and are validated as a business owner by the government.
There are no requirements for Udyam registration. There will be no fees or application costs for the filing process. Only your Aadhar number, GST, PAN shall be required in order for you to enjoy the benefits of Udyam certificate.
If you need help in registration for your business in the udyam registration portal, do let us know by filling up the above form.
There are various benefits of udyam registration. Those can all be enjoyed once you have registered your business from one of the online Udyam registration portals. These are listed out as per the schemes offered by the Ministry of MSME for the development of micro, small and medium enterprises in India. There are 24 benefits and they are as follows:
- As applicable in the state laws, the owner of the business can avail tax concessions and octroi.
- Claim stamp duty and registration fees waiver.
- Exemption of 1% interest rate on Overdraft.
- Can avail subsidy from NSIC and credit ratings & Eligible for IPS subsidy.
- Reimbursements will be provided on the payments made for ISO certificate obtaining.
- Product reservations for exclusive manufacturing conducted by MSME and SSI.
- Avail Excise Exemption Scheme.
- Avail exemption while applying for government tenders.
- Exemption under direct tax laws.
- Enjoy easy bank mortgages and Bank Business Loans
- Bank loans become cheaper as the interest rate is very low (Upto 1.5% lower than interest on regular loans
- It is easier to proclaim licenses, registrations and approvals irregardless of field of business because businesses which are registered under Udyam are given preference.
- Registered Udyams gets tariff subsidies and tax and capital subsidies
- Interest rate Subsidy on Bank loans
- Protection against delayed payments, against material/services supplied
- Ease of obtaining registrations, licenses, and approvals.
- MSME Registered entity gets eligible for CLCSS (credit linked capital subsidy scheme)
- Subsidy is available for Patent registration
- Industrial Promotion Subsidy (IPS) Subsidy Eligibility
- One can avail 100% Collateral Free loans from all banks
- Special consideration on International Trade fairs
- Barcode Registration Subsidy
- Waivers shall be provided in the Security deposit of Government tenders and departments.
- Concession in Electricity bills
Any business can register for Udyam Certificate:
- Proprietorship business
- Hindu Undivided Family (HUF)
- One Person Company (OPC)
- Partnership firm
- Limited Liability Partnership
- Private limited or limited company
- Co-operative Societies
- Any association of persons
What is the exemption criteria for UDYAM certificate?
The turnover and investment criteria of the enterprise in order for it to be registered as an Udyam to avail the benefits of Udyam registration are as follows:
- For Microenterprise units: Enterprises with Investment up to Rs 1 crore with a turnover of less than 5 crores will now be called small enterprise units.
- For Small enterprise units: Enterprises with Investment up to Rs 10 crore with a turnover of less than 50 crores will now be called small enterprise units.
- For Medium enterprise units: Enterprises with Investments up to Rs 50 crore with a turnover or less than 250 crores will now be called Medium Units.
The Udyam Registration process is simple and only a few steps are involved in the entire process such as Aadhar name, GSTIN and PAN details, etc.
For any of your inquiries regarding Udyam registration portal, feel free to fill the form.
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