Udyog Aadhaar is a twelve-digit unique identification number given by the Ministry of Micro Small and Medium Enterprises (MSME). The government of India has been providing this Udyog Aadhar Registration for small and medium enterprises since September 2015.
It’s also known as Aadhaar for Business. More than 48 lakh MSMEs in India got registered under this as of July 2018.
Objectives of Udyog Aadhaar Registration
- The main objective of Udyog Aadhaar is to track the small and medium industries legally.
- Earlier, this registration process was complicated and significant, so many small and medium enterprises (MSMEs) didn’t show interest and ran away from the process.
- Now it is straightforward to register in this process.
- People show interest in starting their businesses by encouraging small and medium companies (MSME). The number of employees also increases, unemployment in the country decreases, and people will get new opportunities.
- By this Udyog Aadhar, India’s government wants to increase companies’ competition to become financially healthy. The company’s thinking also moves ahead, which will benefit the country.
Udyog Aadhaar Benefits
- Exemption under Direct Tax
- Excise exemption
- 50% reduction of the fee for filing patents and trademarks
- Protection from delayed payments
- Credit guarantee scheme
- Loans with low interest and without a guarantee
- The government of India gives Financial Support to participate in foreign business exposure.
- To increase the company’s revenue, the government provides subsidies
- Electricity bill concession
- Exemption when applying for government tenders
- Octroi benefits
Eligibility for Registration
India’s government offers loans for the Udyog Aadhaar-based industries for manufacturing and service sector business (MSME).
India’s government will provide investment for manufacturing industries of up to Rs 25 lakh for plant and machinery and service industries investment up to Rs 10 Lakh or equipment.
The government will provide Rs 5 crore manufacturing industry investment for plant and machinery and service industry investment of Rs 2 crore for equipment.
The Indian government provides Rs 10 crore for manufacturing companies for plant and machinery and the Service Company’s investment of Rs 5 crore for equipment.
Documents Required for Udyog Aadhaar
- Personal Aadhaar number
- Name of Owner
- Category of Applicant
- Name of the business
- Type of organization
- Bank details
- Key activity
- National Industrial classification code
- The number of persons employed.
- Date of commencement
- Details of DIC
How do Udyog Aadhaar Online Registration
It is an entirely online process, and it is for individuals who have micro/small/medium enterprises. The process is quite simple. Udyam registration is the updated version of Udyog Aadhaar registration.
- Individuals have to visit the Udyog Aadhar official website.
- A form opens, enters the Aadhar number, ensures that the mobile number is linked with Aadhaar, and clicks on the “validate/generate OTP.”
- After validating the OTP select the social category.
- Suppose the applicant has more than one entity. In that case, every enterprise must be registered separately with the same Aadhaar card and registered as Enterprise 1, Enterprise 2, etc. Select the type of organization
- Fill in the business’s details like complete address with the district, PIN, mobile number, email ID, and other information.
- Enter the Date of Incorporation, bank account number, IFSC code, and type of the business, whether manufacturing or service. If the company is into both, mention the significant activity.
- Mention the total number of employees working with the company’s paid salary/wage. Also, mention the total amount of investment in your business.
- Select the DIC (District Industry Centre) from the given list and accept the declaration form.
- After entering the details, check once on click on the “submit” to generate OTP sent to the registered email ID.
- Enter the TP and complete the registration with the acknowledgement number.
Udyog Aadhar is the recognition certificate of an enterprise for registering their business under this. It is a Unique Identity Number that certifies micro, small, and medium businesses (MSME) and for which the companies get bank loans at lower interest.
To download the registration certificate go to the website or click here. Now enter the UAM number and the registered mobile number per the Udyog Aadhar certificate and click submit.