Udyam Registration Benefits
Udyam Registration Benefits

Udyam Registration Benefits

Udyam Registration Will Allow You and Your Business to Avail Many Benefits. Here we have listed out all the major benefits for small business if they have a Udyam registration certificate.

If you are the owner of any small enterprise in today’s society, it is highly advisable for you to get an Udyam MSME registration. There are numerous advantages when it comes to getting an Udyam MSME registration. 

If you are the owner of a micro/small/medium enterprise, where the investment in plant and machinery or equipment does not exceed one/ten/fifty crore rupees and turnover does not exceed five/fifty/two hundred fifty crore rupees respectively. 

The government of India has organised a full system of facilitation for the registration process known as “Udyam Registration”. The government will provide your business with a permanent registration number after the process. With completion of the registration process, a certificate will be issued online which you can print.

This certificate will consist of a dynamic QR code from which the web page on our Portal and details about your enterprise can be accessed. The entire registration process is completely free of cost and no fees or costs have to be paid to anyone. Furthermore, there will also be no need for renewal of the registration. If you face any problems during the process, our single window systems at Champions Control Rooms and at DICs will assist you. 

The entire process of the MSME registration is free, paperless and based on self-declaration. No documents and proof are required to be uploaded for registering an MSME. Simply, the aadhar card will be enough.

All details related to investment and turnover linked with your PAN & GST of your enterprise will automatically be taken from government databases. Our online system is fully integrated with Income Tax and GSTIN systems. It is important to remember when getting an udyam registration online and make sure of the following details: 

  • Having a PAN and GST number is mandatory from 1.04.2021.
  • You will have to re-register your enterprise if you have an EM-II or UAM, or any other registration under the ministry of MSME. 
  • Do not file more than one Udyam registration for your enterprise. Although, any number of activities including manufacturing or service or both can be added or specified in one single registration. 

As said above, there will be no fees incurred for filing for udyam registration. Aadhar number will be required for the process and the aadhar number of the proprietor in the case of proprietorship firm, or of the managing partner in the case of a partnership firm or of a karta in the case of a Hindu Undivided Family (HUF). 

The organisation or its authorised signatory has to provide the GSTIN and PAN along with the Aadhaar number in case of a company/Limited Liability Partnership/Cooperative Society/Society/Trust. 

All information the enterprise did not declare over the years when they did not have PAN, has to be duly self-declared after being registered as an Udyam with PAN.

Penalty shall be charged under section 27 of the Act in the event of anyone intentionally misrepresenting or attempting to suppress the self-declared facts and figures appearing in the Udyam Registration or updation process. 

There are various advantages to an MSME registration. These advantages of udyam registration will make life much easier for you as a business owner. Some of these MSME Udyam certificate benefits are as follows: 

  • Collateral free loans from banks
  • Interest rate subsidy on bank loans
  • Protection against delayed payments and against material/services supplied
  • Beneficial reservation policies in the manufacturing/production sector
  • Obtaining registration, licenses and approvals with ease.
  • Eligibility for CLCSS (credit linked capital subsidy scheme)
  • Special consideration for International trade fair
  • Government security deport (EMD) waiver
  • Concession for electricity bills
  • ISO certification fees reimbursement
  • DIrect tax laws rule rules exemption
  • Patent registration subsidy
  • Barcode registration subsidy
  • Industrial Promotion Subsidy (IPS) eligibility
  • NSIC performance and credit rating fees subsidy

Once your business has an Udyam registration certificate, the government will validate the existence of your business. Furthermore, you will also be able to enjoy all the numerous benefits derived from the various relief schemes offered by the ministry of MSME. 

So you might have understand that the benefits of udyam registration certificate in coming year. Many more opportunity will rise and registered MSME enterprises will have better growth.

If you have any inquiries regarding the Udyam registration process, just fill up the Udyam form, one of the representative get back to you soon. From then onwards, you and your business can enjoy the numerous benefits provided by the government.