Benefits of Udyam Registration For Business In India
MSMEs will now be known as Udyam according to the notification released by the Ministry of Micro Small Medium Enterprises (MSME) on 1st June 2020. And the process of registering a firm as an Udyam will be called Udyam Enrollment Registration. Government Udyam Registration Portal is a portal focused on self-declaration, without inserting or submitting any document/certificate/paper.
Anyone wishing to set up micro, small or medium-sized enterprises would have to register for Udyam registered as an Udyam at Udyam Registration portals online. A Udyam Registration Number and an e-certificate called 'Udyam Registration Certificate' will then be issued to the company. According to the ministry of MSME's notification, all existing Indian companies and firms are to file and register as Udyam on or before March 31st, 2021. The old Udyog Aadhaar Memorandum can be revised by checking/seeding Udyam registration with the PAN.
Meaning of Udyam Registration?
The Indian government's latest notification says an MSME (Micro Small and Medium Enterprises) will be known as Udyam as of July 01, 2020, and the enrolment or registration process will be known as Udyam Registration.
The Indian Government validates the existence of the company with a new Udyam registration certificate. And all enterprises affiliated with the Udyam can take advantage of numerous benefits derived from the different wavelength schemes provided by the MSME Ministry for the security and growth of Indian small businesses.
New Enterprise Registration Declared by the Ministry of MSME for Businesses as Udyam
According to the MSME notification from the Government of India, there will be no payments or application costs for Udyam Registration to be filled in. Udyam registration requires only Aadhaar number, GST, PAN (Self-declaration).
Benefits Of Udyam Registration
There are many advantages to registering and obtaining a Udyam certificate for your business, here we mention 16 benefits of registering with Udyam.
These benefits are listed in accordance with the schemes offered by the MSME Ministry to develop micro-small and medium-sized businesses in India. Udyam registration certificate holders may also take advantage of the same advantages and prove to be useful for them.
Interest rate Subsidy on Bank loans
Collateral free loans from a bank
Protection from delayed fees, towards supplied material/services
Special beneficial reservation policies in the manufacturing/ production sector
Facility to get registrations, licenses, and approvals
MSME Registered entity gets eligible for CLCSS (credit linked capital subsidy scheme)
Special attention to the international trade fair
Government security deposit (EMD) waiver (Useful while participating tenders)
Electricity bills concession
Patent registration subsidy
Barcode registration subsidy
Waiver of stamp duties and registration fees
ISO certification fees refund
Direct tax laws provide for an exemption
Subsidy for NSIC performance and credit score duties
Barcode registration subsidy
The registration process for Udyam Registration
Udyam registration makes the registration process very simple and easily accessible. The registration procedure is the following clear 5-Step process:
phase 2: Fill out all information on the Udyam Registration Form, such as the number, name, and address of the adhaar
phase 3: Make the online and easy payment for your Udyam Registration Application
Phase4: One of the registration specialists will process your Udyam registration process application.
phase5: You will get your Udyam Certificate of Registration at your registered email address within 1-2 hours.
Eligibility for Udyam
Each type of business component is qualified to obtain the Udyam Certificate Of Registration.
Hindu Undivided Family (HUF)
Any association of persons
Limited liability partnership (LLP)
Private limited or limited company
One Person Company (OPC)
The following conditions are stated by the MSME Ministry to be turnover & investment in plant and machinery or equipment.
Microenterprise units: The company with investment up to Rs 1 crore with a turnover of fewer than 5 crores will now be called units of micro business.
Small enterprise units: the company with investment up to Rs 10 crore with a turnover of less than 50 crores will now be called small enterprise units.
Medium enterprise units: The enterprise with investments up to Rs 50 crore with a turnover of less than Rs 250 crore will now be called Medium units.
As you can see the various advantages of getting your company an Udyam registered. The online registration process is fairly easy, it's a paperless method no longer requiring the uploading or submission of documents.
We are a private firm who are well versed with the MSME / Udyog Aadhaar / Udyam procedures for small or medium enterprise business registration & certification in accordance with the rules of the Indian government. We're constantly working to empower Indian companies and make the official work of their government simple and convenient.
Our client base is very satisfied and our customer base includes both new businesses and well-established businesses and businesses. Satisfied customers also return to take advantage of our services regarding other processes of registration and updating. It has never been easier to register online from the safety of your home registration through portals such as udyamregister.in which is a single-window service that gives fast and trouble-free Udyam registration.
Online Udyam registration through the aforementioned website also saves time by discarding the excess time needed to register online via government websites or offline offices. Other websites have a very complex and lengthy process for new business owners and first-time registration users which is not user friendly and very frustrating.
With us now registered as an Udyam and taking advantage of various benefits from the Udyam government. You can contact us at udyamregister.in or call us at +918676984999 if you face any problems while filling out the Online Udyam registration form or have any doubts about Udyam registration.
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