Udyam / MSME Registration (UdyogAadhaar)
To start any small scale Manufacturing or Service industry you need to register your company with “Udyam”.
Udyogaadhaar is provided by Ministry of MSME.
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Udyam (previously UdyogAadhaar) 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 Aadhaar for Business. As of today, more than 50 lakh MSMEs in India are registered under Udyam.
Udyam scheme was launched in September 2015 by Ministry of Micro, Small and Medium Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 (MSME Act, 2006) with the purpose to promote micro, small and medium enterprises.
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Benefits Of Udyam Registration
- Excise exemption
- The exemption under the direct tax laws
- 50% reduction in fee for filing patents and trademarks
- Credit guarantee scheme
- Protection from delayed payments
- Loans without guarantee, low-interest rates on loan
- Financial support for participating in foreign business exposure from the Government of India.
- Subsidies provided to increase the company’s revenue
- Concession in electricity bills
- The exemption provided when applying for government tenders
- Octroi benefits