The government launched the Udyog Aadhar in September 2015, which will offer each micro, small, and medium-sized business a unique identification. The Ministry of Micro, Small, and Medium Enterprises issues this identifying number. The plan has been rebranded by Udyam, and all MSMEs, new and old, must re-register on the Udyam registration. This essay will teach you everything you need to know about the Udyog Aadhaar, sometimes referred to as the Business Aadhaar or Udyam.
What is the difference between Udyog Aadhar and Udyam?
All MSMEs were given a 12-digit unique identification number known as Udyog Aadhar by the government. This number would be assigned to businesses automatically when they registered. Since Udyog Aadhar was replaced by Udyam, any MSME must obtain a 19-digit Udyam registration number. You can apply for an Udyam registration number online at the official Udyam portal.
Udyam / Udyog Aadhar benefits:
Udyog Aadhaar has a lot of advantages and applications:
- Aids in obtaining no-collateral loans from banks.
- Registered MSMEs are granted first consideration for participation in international trade exhibitions.
- Allows for the exemption of stamp duty and registration fees.
- Exemptions are possible under the legislation governing direct taxes.
- Barcode registration is eligible for a subsidy.
- NSIC credit ratings and performance are used to determine the amount of subsidy.
- Under the CLCSS system, technology upgrades are eligible for a 15% subsidy.
- Payments incurred in order to get ISO certification will be reimbursed.
How is a business classed as an MSME?
Micro-business: Businesses having a plant equipment and machinery investment of less than Rs one crore and sales of less than Rs five crore fall into this category.
Small business: Businesses having a plant, equipment, and machinery investment of less than Rs 10 crores and a sales of less than Rs 50 crores fall into this group.
Medium-sized business: This category includes businesses with a plant, equipment, and machinery investment of less than Rs 50 crores and a turnover of less than Rs 250 crores.
What you should know about registering for an Udyog Aadhar:
- Following registration, each business is assigned a 19-digit permanent registration number.This registration number does not need to be renewed.
- Udyam is the name given to a firm that is registered through this process, and the “Udyam registration number” is the permanent identification number given to it.
- A certificate will be issued online once the registration process is complete.
- This certificate will include a QR code that may be used to access the company’s information.
- The Udyam registration process is entirely online, paperless, and self-declarative.
- To register as an MSME, you only need your Aadhaar number and no other paperwork or proof.
- The proprietor’s Aadhaar number must be submitted in the case of a proprietorship firm, while the controlling partner’s Aadhaar number must be provided in the case of a partnership firm, and the karta’s Aadhaar must be submitted in the event of a Hindu Undivided Family (HUF).
- The government database would be promptly linked with the PAN and GST-related details on the company’s investment and turnover.
- Pre-registration is required for all firms holding a UAM or EM-II registration, as well as any other registration issued by the Ministry of MSME.
- Only one Udyam registration per company is allowed. A single registration can, however, include a variety of operations such as manufacturing, service, or both.
How to register a new company for Udyam?
Step 1: Go to the Udyam Registration Portal and select the option “For New Entrepreneur.”
Step 2: You will be sent to a new page where you must enter the proprietor’s or managing director’s Aadhaar number or Karta. Fill in the name of the company’s owner.
Step 3: Use an OTP to verify your Aadhaar. To the best of your ability, complete the application. We will create your certificate as soon as feasible.
What steps do I need to take to register an existing business with Udyam?
All businesses with an existing Udyog Aadhaar number must re-register on the Udyam Registration portal. Existing businesses that were registered prior to June 30, 2020, were only valid for a period of time up to March 31, 2021. Apart from that, every firm registered with any other Ministry of MSME organization must register with Udyam Registration.
What is the procedure for printing your Udyog Aadhar or Udyam certificate?
Step 1: Select ‘Print/Verify’ from the top menu of the Udyam Registration Portal.
Step 2: Choose the first option, Print Udyam Certificate, from the drop-down menu.
Step 3: Use your 19-digit Udyam Registration number and mobile number to complete the application.
Step 4: After you’ve validated your information, you’ll be taken to the ‘Print’ option.