UDYAM REGISTRATION CERTIFICATE

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UDYAM REGISTRATION CERTIFICATE

The Udyam Registration certificate previously known as Udyog Aadhaar Certificate is a unique identification certificate including identification number and QR code, issued by the Government under the ministry of MSME, to extend the benefits to Micro, Small and Medium scale entrepreneurs through various government schemes, financial assistance schemes and subsidies.

It is an e-certificate obtained through online registration for free on the Udyam registration portal and it’s a permanent registration until the business exists and do not require timely renewal. An entrepreneur can apply for Udyam registration only for one enterprise, and all activities involved in that are included in that registration. It is restricted to only Indian entrepreneurs, with businesses fulfilling the criteria to get included in MSME category.

CRITERIA FOR MSME CATEGORY:

Type of Enterprise Capital Fund investment in plant/ machinery/equipment Turnover per year
Micro Enterprise Limiting to One crore Limiting to five crores
Small Enterprise Limiting to Ten crores Limiting to Fifty crores
Medium Enterprise Limiting to fifty crores Limiting to two hundred and fifty crores

REQUIREMENTS FOR REGISTRATION:

  • • Aadhaar Number
Type of Firm Aadhaar number of Individual
Proprietorship Firm Proprietor
Partnership Firm Managing Partner
Hindu Undivided Family(HUF) Karta
  • • PAN Number
If an enterprise registered under Udyam with PAN, for its previous years information when PAN was not applicable need to be self-declared.
  • • GSTIN – GSTIN along with PAN and Aadhaar need to be provided by the Authorized signatory of an enterprises under Limited Liability Partnership or Cooperative Society or Company or Trust or an Organization.
  • • Any enterprise Registered under Udyog Aadhaar Memorandum (UAM) need to re-register under Udyam Registration.
  • • Any enterprise registered with other institution under the ministry of MSME need to register under Udyam Registration on itself.

BENEFITS OF UDYAM REGISTRATION:

  • • The enterprises registered under Udyam registration can avail the benefits subsidies in capital investment, Technology upgradation, Power subsidies, Patent registration subsidies, subsidies on Barcodes and intellectual property rights protection.
  • • The enterprises with Udyam registration certificate can enjoy the collateral free loans under the Governments Credit guarantee fund scheme for Micro and small enterprises.
  • • Also, the enterprises under UDYAM registration gets benefits by paying low interest rates for the loans offered by Banks.
  • • Financial institutions and banks consider the Udyam registered businesses as their priority for financial assistance under priority sector lending scheme.
  • • The firms under this registration can embark on government tenders reserved for MSMEs.
  • • MSMEs with Udyam registration can have legal protection against delayed payments under MSME development act 2006, also gets compound interest of three times of interest rate fixed by the RBI, on monthly interest rates from the buyer.
  • • Registered Firms can get concessions on electricity bills, water bills and on other utility services.
  • • Eligibility for International business promotion and trade obtained from this registration.
  • • Accessibility for governments skill development schemes, Technological Training programs for Registered MSMEs.
  • • Udyam registered MSMEs can get register under other government portals like GEM, MSME Samadhaan, MSME Sambandh, MSME champions portal, National small industries corporation (NSIC), Export promotion councils, ZED (Zero defect and zero effect), TReDS (Trade receivables Discounting System).
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