Udyog Aadhar Registration
What is Udyog Aadhar?
The Ministry of MSME issues Udyog Aadhaar (also known as Aadhaar for Business), a 12-digit government identifying many small and medium-sized firms that desire to register as MSME.
Unlike other commercial entities, the alone proprietor does not formally recognize his company. For sole owners who do not have official government recognition, Udyog Aadhaar is highly recommended since it allows the sole proprietor to receive a unique identity and legal registration with the Government of India, which proves his company’s existence.
The Government of India has launched the Udyog Aadhaar Registration (UAM) procedure to support small-scale companies in the country. Udyog Aadhaar Registration is presently being moved to Udyam Registration. MSMEs (Micro, Small and Medium Enterprises) must apply for Udyam Registration to be eligible for government subsidies.
Who is Eligible for Udyog Aadhar Registration in India?
Small, medium and micro-businesses in the industrial and service sectors are eligible for Udyog Aadhaar registration.
Udyog Aadhar Registration in India
The Udyog Aadhaar system allows for free registration. Aadhaar number is used for registration.
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Which Documents are Required for Udyog Aadhar Registration in India?
The registration process for Udyog Aadhaar does not involve the submission of papers. You should, however, keep a few documents on hand because you will be asked to supply information at the time of registration. The following is a list of the papers:
- Bank passbook with picture Aadhaar card or Aadhaar Enrolment ID slip
- Voter identification card
- PAN card (passport)
- Valid driver’s license
- A government-issued employee identification card (if any)
- Certificate of Caste (for SC, ST, and OBC category)
In addition to the papers listed above, you may be required to present other documents depending on the necessity.
What is UAM?
The Udyog Aadhaar Memorandum is a form in which an MSME proclaims its existence and provides needed information like the owner’s Aadhar number, bank account number, and so on. After submitting this form, an acknowledgment form containing the applicant’s unique UAN is emailed to the applicant’s registered email address (Udyog Aadhaar Number). Because this is a self-declaration form, there is no need for other papers.
Why should I Register for Udyog Aadhar?
There are numerous advantages to registering your business and obtaining a Udyog Aadhaar.
The following is a list of advantages gained from the Ministry of MSME’s different initiatives for small businesses’ protection, growth, and development. The same perks are available to Udyog Aadhaar holders, and they prove to be highly beneficial.
The following are the advantages: –
- Payment protection in the event of a payment delay.
- Disputes are resolved quickly.
- Collateral Bank loans are available for no cost.
- For participation in an international trade show, you will receive special consideration.
- Benefits of Octroi
- Stamp duty and registration costs are waived.
- Several Direct Tax Laws Exemptions
- Subsidy for barcode registration
- NSIC Performance and Credit Rating Subsidy
- Through CGSTI, the Government of India provides a counter-guarantee.
- Banks’ interest rates have been reduced.
- CLCSS plan offers a 15% subsidy for technological upgrades.
- When applying for government bids, there are several exemptions.
- Electricity Bills are Reduced
- Payment for attaining ISO certification is refunded.
- Interest on OD is exempted by 1%.
- For optimum reasons, the acceptable loan ceiling has been increased from Rs. 25 lakhs to Rs. 50 lakhs.
- Raising the level of guarantee coverage from 75% to 80%
- MSME/SSI reserves items for exclusive production.
- Obtaining Licenses Eligible for IPS Subsidy will be more accessible with easier registration and approvals.
- Preference in the awarding of government contracts
- Scheme for Excise Exemption
- Banks’ interest rates have been reduced.
- Patent registration is eligible for a 50% subsidy.
Latest Updates Regarding Udyog Aadhar Registration in India
You must follow the processes outlined below to make modifications, such as altering any information for your Udyog Aadhaar:
- On www.udyogaadhaar.gov.in, proceed to the Entrepreneur Login area.
- Fill out the designated area in the login section with your 12-digit UAM number.
- Choose your preferred method of obtaining your OTP from the UAM drop-down menu. The OTP can be sent to your registered phone number or email address.
- Fill in the Captcha code and click the ‘Validate and Generate OTP’ button to validate and generate an OTP.
- To log in to your account, enter your OTP in the space given and confirm it.
- You may make the necessary modifications and save them once you are logged in.