Udyog Aadhar Registration – Its Meaning, Eligibility, Required Documents, and Process for Udyog Aadhar Registration 

Introduction

The Ministry of MSME provides the 12-digit Udyog Aadhaar number, also known as Aadhaar for Business, to allow small and medium-sized businesses to register as MSMEs. A sole proprietor does not have his business recognized by the government, in contrast to other commercial entities. Udyog Aadhaar Registration is strongly advised for Lone Proprietors who do not already have an official government recognition since it enables a sole owner to obtain a distinct identity and formal registration with the Government of India, which certifies the existence of his business. This article emphasizes on “What is Udyog Aadhar?”,  Benefits Of Udyog Aadhar, Eligibility for Udyog Aadhar, “What is the Process for free Udyog Aadhar Registration?”

What Is Udyog Aadhar?

Udyog Aadhaar is a one-page registration form that allows MSME registrations to self-certify the existence of their company, bank information, promoter/Aadhaar owner’s information, and other necessary facts. There is no extra fee for filing Udyog Aadhar. It is a business-specific identification system that can be called similar to the Aadhar. The primary goal of Udyog Aadhar is to encourage the expansion of all firms registered. One can enjoy the benefits of Udyog Aadhar as an MSME/SME.

What Are The Benefits Of Udyog Aadhar Registration?

There are numerous advantages to obtaining an Udyog Aadhaar for your company. A list of advantages of the numerous programmes provided by the Ministry of MSME for the Protection, Growth, and Development of Small Enterprises is provided below. The Udyog Aadhaar holders may also make use of these advantages, which would be beneficial to them:

• Protection against payment delays
• Quick resolution of conflicts
• Collateral Free bank loans
• Exclusive consideration for attending a global trade event
• Surrender of Stamp duty and Registration fees
• Several Exemptions under Direct Tax Laws
• Registration with a barcode subsidy
• NSIC Performance and Credit Rating Subsidy
• Counter Guarantee from the GoI through CGSTI
• Decreased interest rates from banks
• 15% of the CLCSS scheme’s subsidy is for upgrading technology
• Exemptions when applying for government contracts
• Reduction in electricity bills
• Reimbursement of fees paid for ISO certification
• Interest on OD is exempted by 1%
• Increasing the qualifying loan limit to Rs. 50 lakh for the best reasons from Rs. 25 lakh
• Increasing the guarantee cover percentage from 75% to 80%

Eligibility for Udyog Aadhar

Businesses defined according to their investment and machinery (as per the table below) are eligible to apply for the udyog aadhar card.

Documents Required for free Udyog Aadhar/MSME registration

• There is no such document or proof required to be uploaded for registering an MSME.
• Information on investments and revenue of businesses that are connected to PAN and GST will be automatically retrieved from government databases.
• The Income Tax and GSTIN systems would be completely linked with the online system.

Udyog Aadhar Memorandum

• The Udyog Aadhaar Memorandum is the registration form on which the MSME attests to its existence and gives necessary data, like the owner’s Aadhar details, bank account details, etc.
• An acknowledgement email including the specific UAN which is sent to the applicant’s registered email address (Udyog Aadhaar Number).
• There is no requirement for supporting documents because it is a self-declaration form.

What is the Process for free Udyog Aadhar Registration?

It is important to keep in mind while registering your business that you must have your aadhar information. If you don’t have your aadhar then visit an aadhar enrollment center and submit it’s application.

1. Visit the official website and log in.
2. Fill out the fields “Aadhar Number” and “Name of the Entrepreneur” with your information.
3. Check all the information, then select “verify and create OTP”.
4. Type the OTP sent to the registered mobile number.
5. You will receive a form after successful verification.
6. Complete all of the required fields and double-check the information to make sure there are no mistakes.
7. Continue scrolling and press the “Submit” button.
8. After that, you will get another OTP on the registered mobile number.
9. To finish the application, enter the information carefully and press the final “Submit” button.

Important Note: It is important to know that there are no Udyog Aadhar fees and after following this process, you can print your Udyog Aadhar Certificate.

Conclusion

The Udyog Aadhar is an important record which is useful to submit applications for government contracts and tenders. Also, it makes it much simpler to apply for government subsidies and a company loan with no collateral.

Also Read: MSMe / Udyam Aadhar renewal / Migration