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All about UDYOG AADHAR OR MSME REGISTRATION

What is Udyog Aadhaar?

Udyog Aadhaar (also called as Aadhaar for Business) is a unique 12-digit Government identification number provided by the Ministry of MSME for the small and medium enterprises to register themselves as MSME.

Unlike other business entities, a sole proprietor business owner does not have an official recognition of his business. Udyog Aadhaar is highly advisable for Sole Proprietors who dont have an official govt recognition as udyog aadhaar helps a sole proprietor get a unique identity and official registration with the Government of India that validates the existence of his business.

Other types of business entities usually have a official recognition and they can register for Udyog Aadhaar and avail the other benefits offered by MSME as mentioned below

Benefits of Udyog Aadhaar:

There are a numerous benefits of registering and getting a Udyog Aadhaar for your business.

Given below, is a list of benefits derived from the various schemes offered by the Ministry of MSME for the Protection, Growth and Development of the small enterprises. The same benefits can also be availed by the Udyog Aadhaar holders and prove to be very advantageous for them.

The benefits are as follows:-

  1. Protection against delay in payment.
  2. Fast resolution of disputes
  3. Collateral Free loans from bank
  4. Exclusive consideration for participating in international trade fair
  5. Octroi benefits
  6. Waiver of Stamp duty and Registration fees
  7. Several Exemption under Direct Tax Laws
  8. Barcode registration subsidy
  9. Subsidy on NSIC Performance and Credit ratings
  10. Counter Guarantee from GoI through CGSTI
  11. Reduced rate of interest from banks
  12. 15% subsidy under CLCSS scheme for technology upgradation
  13. Exemptions while applying for Government tenders
  14. You just need to follow the given below
  15. Concession in Electricity Bills
  16. Reimbursement of payment made for obtaining ISO certification
  17. 1% exemption in interest on OD
  18. Increasing eligible loan limit for optimal reasons, from the amount of Rs. 25 lakh to Rs. 50 lakh
  19. Raising the extent of guarantee cover from 75 % to 80 %
  20. Reservation of products for exclusive manufacturing by MSME/SSI
  21. Easier registration and approvals to obtain Licenses
  22. Eligible for IPS subsidy
  23. Preference in allocation of Government tenders
  24. Excise Exemption Scheme
  25. 50% subsidy for patent registration

Above mentioned are some of the benefits that a Udyog Aadhaar holder can enjoy. Apart from these as and when there are new schemes introduced, the same benefits can also be enjoyed by the Udyog Aadhaar holder.