Here in this article, we will answer the most common question what is the use of udyam registration certificate? Before applying for udyam registration certificate online, do understand what are the uses of udyam certificate in MSME industries.
Udyam certificates are mostly used as Indian business licenses that are registered with the Ministry of MSME. Obtaining a udyam registration certificate qualifies your company as an MSME and entitles it to many government schemes, services, benefits, and subsidies. If you want to confirm that your micro, small or medium-sized business is legitimate, and running, then you should get an udyam certificate.
Below are some of the uses of the udyam registration certificate for micro, small and medium enterprises in India, read further.
Udyam Registration Form for Getting Udyam Certificate
What is the use of udyam certificate?
A non-registered MSME is excluded from a number of government schemes, benefits, and subsidies that are continuously published and modified. Here are the top 10 uses of the MSME Udyam registration certificate for micro, small and medium enterprises in India.
1. With Udyam Certificate get collateral-free loans
Bank loans for recording MSMEs are available without collateral or guarantee. There are some small business loans and MSMEs that don’t require collateral, but not all of them are MSMEs.
For example, if the conditions are fulfilled, the Credit Guarantee Trust Fund Scheme offers fast bank loans without collateral.
Learn more about – Udyam Scheme: Every MSME Should know
2. With Certification 50% off of the cost of registering a patent
For the patent registration of their company idea and process, registered MSMEs are eligible for up to a 50% incentive. To use this government programme, a certificate of registered MSME udyam registration is required.
Do you know the benefits of the Udyam Registration Certificate, as a business owner you should avail these advantages. Check out the 25 MSME Udyam Registration Benefits for Small and Medium Enterprises in India if you’re not familiar with the various benefits.
3. Can Exemption on Overdraft Interest Fee
If they have an overdraft, registered MSMEs can receive a 1% discount on the interest they pay at any bank or financial institution.
4. Can Help in Industrial Promotion Subsidy Eligibility
Under different government schemes and programs, registered MSMEs can receive industrial promotion subsidies for spreading awareness of their firm around the world.
This may involve receiving compensation for attending trade shows, marketing campaigns, and other events.
5. By Presenting your Udyam Registration Certificate you can Receive Protection Against Delayed Payments
When a registered MSME provides goods or services to another company and the payment isn’t made within 45 days, the government gives the MSMEs the right to impose compound interest on the unpaid balance each month. And the interest that must be paid is three times the rate that the RBI has approved.
Only registered MSMEs in India are eligible for this assistance with delayed payments.
6. Using your MSME Udyam Aadhar Certificate Receive a subsidy on your Electricity Bills
Particularly in the case of manufacturing facilities, registered MSMEs are also qualified for rebates on power bills in certain circumstances.
7. For Registered Udyam Businesses will get a Free ISO Certification
The Indian government commits to cover all ISO registration fees in the event that a registered MSME obtains ISO certification.
MSMEs that are not registered are not eligible for this refund.
8. Can Use it for Long-Term Tax Benefits
Only registered MSMEs are eligible for the maximum 15-year extension of the minimum alternate tax (MAT) credit, as opposed to the standard 10-year extension for all other companies.
9. Eligible To Apply For Indian Government Tenders
Since the Udyam Registration Portal is directly connected to a number of government e-marketplaces and State Government’s portals for issuing tenders, registered MSMEs can receive additional assistance and a boost in acquiring government contracts.
This is a significant benefit of registered MSMEs over unregistered MSMEs.
10. Can Use it as a Fee for One-Time Settlement of Non-Payments
The government offers a one-time settlement charge to pay off any outstanding dues in the event that a registered MSME is unable to make any unpaid invoices.
Still, confused about the MSME udyam registration certificate process and its benefits? Don’t worry!
Consult with top business experts & advisors of Govt schemes for MSMEs in India at this portal, and clear all your doubts and queries in no time.
How to Apply for udyam registration certificate?
Here is a fast and straightforward online process that allows you to apply your Udyam registration certificate while sitting in your office. Simply follow these 5 steps to quickly apply for your udyam certificate online.
Step 1: Visit the official website of udyam registration portal
Step 2: Select the button udyam registration certificate tab
Step 3: Fill out the udyam registration form to apply for your certificates like your Aaadhar number, name of the applicant, mobile no, and email Id so on.
Step 4: Additionally, select the registered mobile number and email address where you want to get your OTP. The OTP will be sent to your registered email address or mobile number.
Step 5: After evaluating your request, Udyam Representatives will approve your application.
Step 6: After the verification, your registered udyam certificate will be sent to your registered email address.
Note: After the OTP has been validated, you will need to share it with representatives in order to proceed with the online verification process.
We are a private udyam consultancy agency that supports all new businesses in India, including micro, small, and medium-sized enterprises (MSME). Therefore, we are aware of the time required to obtain an online udyam registration certificate while following the proper steps.
If you require any additional information on MSME, Udyog Aadhar and Udyam Registration Certificate, please don’t hesitate to reach out and our udyam helpline team will be happy to help. Have a great day ahead!
