Udyog Aadhar Registration was previously termed as SSI & MSME. This new Udyog Aadhar was introduced just for the purpose of Simplifying the Registration process. If you own a Small or Medium business, MSME would give you many benefits by registering your MSME via UAM (Udyog Aadhar Memorandum).
Do you really want to know the real benefits of Registering under Udyog Aadhar??? Let’s enter into the topic…
What is Udyog Aadhar ?
Many of us would have heard about SSI Registration or MSME Registration or Udyog Aadhar Registration. But if you don’t know exactly what it is all about, then this article would be the best choice to know about UDYOG AADHAR and thereby enjoy its benefits.
Simply to say, Udyog Aadhar is a Central Government Registration for Small and Medium businesses where you can also get a Certificate for Registration. The purpose of launching Udyog Aadhar by Central Government is to provide many benefits to Medium or Small scale industries, by registering under Udyog Aadhar.
Udyog Aadhar is a 12 digit Unique Government identification number provided by the Ministry of Micro, Small and Medium Enterprises to register themselves as MSME’s
Who are Micro, Small & Medium Entrepreneurs?
Classification Manufacturing Sector Service Sector
Micro Enterprise Upto Rs. 25 lakhs investment in plant & machinery Upto Rs. 10 lakhs investment in equipment
Small Enterprise Upto Rs.5 crore investment in plant & machinery Upto Rs.2 crores investment in equipment
Medium Enterprise Upto Rs.10 crore investment in plant & machinery Upto Rs.5 crores investment in equipment.
Who can Apply?
Any Organisation with upto 10 Crore (Manufacturing) or 5 Crore (Service Providing) of investment can apply for Udyog Aadhar Registration. Either it may be a Proprietorship firm or Partnership firm or LLP or One-Person Company (OPC) or Private Limited Company or Public Limited or Co-operative Societies.
Requirements for MSME Registration:
• Enterprise Name & Address
• Entrepreneur’s Name & Address
• Aadhar Card number
• PAN number
• Bank account details
Benefits of Udyog Aadhar Registration:
1. Reduction in fee for Filing Trademarks & Patents: If you have a Unique Selling Point (USP) for your product, you can attract the buyers easily. If you have a unique product, then get it patented and you can have a monopoly rights for your unique product. But for this, you need to spend a huge amount. But if you have Udyog Aadhar, you can claim majority of money back as subsidy.
2. Eligible for Government Schemes: By registering under MSME, your organisation will be eligible for claiming benefits through Government schemes which includes loans without collaterals, less interest rates on loan, and easy processing of loan.
3. Easily improve Technology: This Udyog Aadhar Registration will help you in getting 15% subsidy under CLCSS Central Government Scheme for Technology up-gradation.
4. Government Orders: Government is giving priority for the MSME Registered Entrepreneurs for allocating Government Tenders
5. Tax Benefits: As per your business, you can also enjoy deduction of the tax which will be a great benefit for MSME businesses.
6. Concession in Electricity Bills: Udyog Aadhar holders can also enjoy the concession in electricity bills, which is very much advantageous for their businesses.