Udyog Aadhar is a twelve digit Unique Identification Number provided by the Ministry of Micro, Small and Medium Enterprises, Government of India for small and medium enterprises in India. It is also known as Aadhar for Business. As of July 2018, more than 48 lakh MSMEs in India are registered under Udyog Aadhaar.
Udyog Aadhar scheme was launched in September 2015 by Ministry of Micro, Small and Medium Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) with the purpose to promote micro, small and medium enterprises.
benefits of UdyogAadhar
1. Excise exemption
2. The exemption under the direct tax laws
3. 50% reduction in fee for filing patents and trademarks
4. Credit guarantee scheme
5. Protection from delayed payments
6. Loans without guarantee, low-interest rates on loan
7. Financial support for participating in foreign business exposure from the Government of India.
8. Subsidies provided to increase the company’s revenue
9. Concession in electricity bills
10. The exemption provided when applying for government tenders
11. Octroi benefits