Monday, August 8, 2022

Udyog Aadhar For Small Business

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Udyog Aadhar is the online process for registration of MSMEs under which a Unique Identification Number was provided to the enterprise by the Ministry of Micro, Small, and Medium Enterprises. This process was introduced to ease the procedure for registration of the MSMEs and reduce the paperwork which was required for the registration of MSMEs. Under this process, a unique number was provided to the MSME for the unique identification of the enterprise. 

 

Also, Read- Udyam Registration Portal

Benefits of Udyog Aadhar

  • Protection against delayed payments
  • Access to GeM
  • Capital Subsidy
  • Tax deduction
  • Market Support
  • Collateral Free Loans
  • Easy availability of government tenders
  • Reimbursement in ISO certification fees
  • Technology and Quality upgradation
  • Performance & Credit Rating Scheme
  • Reimbursement on fees of Intellectual Property Rights

 

  • Protection against delayed payments

The MSMEs can file their grievances related to payments on the online portal and get instant and quick resolution on various disputes related to payments. The user can also check the status of the application online and know the status of the complaint.

  • Access to GeM

The Udyam gives easy access to GeM (Government e-marketplace) which is the online procurement of goods. The Udyam enterprises can sell as well as buy goods or services from the GeM platform. The GeM platform gives a wide online marketplace for the procurement of common goods by government authorities.

  • Capital Subsidy

The MSMEs can get capital subsidies for covering the costs of the capital for daily business requirements.

  • Tax deduction

The MSMEs registered with Udyog Aadhar can enjoy exemptions from taxes. The government also 

  • Market Support

The MSMEs registered with Udyog Aadhar get market support from the government. The government conducts exhibitions, trade fairs, and buyer-seller meets at the domestic level as well as international level.

  • Collateral Free Loans

The MSMEs registered with Udyog Aadhar could easily avail collateral-free loans from the other banks.

  • Easy availability of government tenders

The MSMEs registered with Udyog get the preference for getting government bids/ tenders. The MSMEs are exempt from paying bid security money and can participate in bids free of cost.

  • Technology and Quality upgradation

The government gives technology and quality upgradation support to the MSMEs. The government has initiated schemes to give financial support to the MSMEs for maintaining continuous technology and quality upgradation.

  • Performance & Credit Rating Scheme

The ministry of MSMEs introduced performance & credit rating schemes to build third party opinions on the creditworthiness and capabilities of MSEs and provide credit at attractive and affordable rates.

  • Reimbursement on fees of Intellectual Property Rights

The MSMEs get reimbursement on registration fees such as patent, trademark, copyright, etc. under a scheme for Building awareness on Intellectual Property Rights.

 

Documents 

These are the documents required for the Udyog Aadhar registration:

  1. Aadhar Card
  2. Type of Organisation
  3. Bank passbook
  4. Passport
  5. PAN Card
  6. Driving License
  7. Employee ID Card
  8. Caste Certificate

 

Udyog Aadhar Registration

The Udyog Aadhar can be done using two methods:

  1. With Aadhar Card
  2. Without Aadhar Card (Offline Mode)

 

Udyog Aadhar update

Earlier, the MSME had to register themselves under Udyog Aadhar to avail the benefits of MSME registration. Since the introduction of Udyam registration, the Micro, Small & Medium enterprises can update to the new process of registration known as Udyam registration. The enterprises registered with Udyog Aadhar can update to Udyam using the UAM. 

 

Udyog Aadhar Certificate

Udyog Aadhar certificate is the recognition certificate given to the enterprise registered with Udyog. The Udyog Aadhar is the unique identification number provided to the enterprise by the Ministry of Micro, Small, and Medium Enterprises. The Udyog Aadhar certificate certifies the business to avail the benefits of various schemes under MSMEs like – concession on electricity bills, subsidy on registration fees of patent/ registration, etc.

Udyog Aadhar Memorandum

The Udyog Aadhar Memorandum is a one-page registration form that self-certifies the information related to the enterprise such as the Aadhar card, bank account details, and other minimum details. The UAM has replaced the EM-I & EM-II and the enterprises with UAM can directly enjoy the direct benefits without registering the EM-II form. There is no restriction for filling up more than one Udyog Aadhar Memorandum with one Aadhar card.

 

Note: The Udyog Aadhar has been replaced with the Udyam registration. The enterprises registered with Udyog Aadhar can re-register themselves for the informatics commerce

Conclusion

Earlier, the small scale business had to register their business under EM-I & EM-II and the process required a lot of paperwork and consumed a lot of time. The government introduced Udyog Aadhar to reduce the paperwork of the MSME. The Udyog Aadhar eased the registration for the MSMEs without the need to fill up different forms for enjoying different benefits under various MSME schemes. The government later replaced the Udyog Aadhar with Udyam registration.

Refer to : aepnow ,vietsn, yimusanfendi, glance.intuit.com

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