If you are planning a small startup, then you should register your business with Udyog Aadhar. Udyog Aadhar is mandatory for small and medium enterprises as Udyog Aadhar replaced procedure of registration under Ministry of Micro, Small and Medium Enterprises. Udyog Aadhar is 12 digits unique number which is issued by the Ministry of MSME. After obtaining Udyog Aadhar, you will get many benefits from the government. You will get subsidies from the government. A process of registration is entirely online now. There is no requirement of a document during filing of Udyog Aadhar memorandum. You will get 12 digit numbers after submission of Udyog Aadhar.
Udyog Aadhar
The concept of Udyog Aadhar came in 2015 which replaced the procedure of registration under MSME. Now you can file your Udyog Aadhar memorandum through online mode. During registration of your Udyog Aadhar, there is no need of any documentation. Udyog Aadhar is 12 digits unique number which identifies your small business. Ministry of MSME certifies your business so you can get benefit from the government schemes. After obtaining Udyog Aadhar, you will get many benefits from the government.
A procedure of Udyog Aadhar Registration is simple, and you have to file your Udyog Aadhar memorandum through online mode. You have to fill your personal and professional details like your Aadhar number, your phone number, address or place of business, etc. After submission of your Udyog Aadhar Memorandum, you will get your Udyog Aadhar number.
After obtaining Udyog Aadhar if you want to correct some information in your Udyog Aadhar, then you can adjust it through online mode for which you have to log in your Udyog Aadhar number, after login you can update your Udyog Aadhar details. During the correction of your Udyog Aadhar, there is no need of filing an application or any documentation.
Benefits of Udyog Aadhar
After obtaining Udyog Aadhar you will get many benefits, here some benefits are given below
- You will get a loan from the bank on low-interest rates
- You may get a reduction in your electricity bills
- You will get a deduction in your patent fess
- You will become eligible for subsidies from the government
- There will be 1% exemption in interest on OD
- You may get a loan without the guarantee
- Your loan limit will increase
- You can present your product in the foreign expo
- You will get funding from government
- You may obtain reimbursement for trade fairs
- The government will provide you with financial support
- An opening of the current account in Bank will be easy
- You can use this as legal proof of your business
- You will get a deduction in your trademark fees
- You will get a tax deduction
- The process of registration is simple and straightforward, you have to file a single page online application
- You will get benefit from Pradhanmantri mudra yojana
PAN registration
The Income Tax Department of India issues permanent account number (PAN). PAN card has a unique number which is required during tax filing. PAN is now mandatory for the bank. If you want to open a bank account, then you have to submit your PAN details. During filing of Udyog Aadhar PAN Number is not required but you have to submit your PAN details because you can avail your benefits after submitting your PAN details. PAN Card Registration is required for a bank loan and PAN details needed in many government schemes.
Conclusion
As you can see that Udyog Aadhar is mandatory for all small and medium enterprises. If you are planning a small startup, then you should register your business with Udyog Aadhar because after obtaining Udyog Aadhar you will get many benefits from the government. A process of registration is simple, and there is no requirement of documents.
