What is the Udyog Aadhaar number?

The Ministry of Udyog Aadhaar (also known as Aadhaar for Business) issues a 12-digit government identity number of MSME to small and medium-sized businesses who wish to register as MSME. 

A sole proprietor company owner, unlike other business entities, does not have formal recognition of his business. Udyog Aadhaar is highly recommended for sole proprietors who do not have official government recognition since it allows the alone proprietor to obtain a unique identity and official registration with the Government of India, which verifies the existence of his business. 

Other sorts of business enterprises typically have official recognition and can register for Udyog Aadhaar and make use of the MSME’s other perks, which are listed below.

Also Read : Udyam Registration Portal.

Udyog Aadhaar’s Advantages

There are numerous advantages to registering your business and obtaining a Udyog Aadhaar.

The following is a list of benefits gained from the Ministry of MSME’s different initiatives for the protection, growth, and development of small businesses. The same perks are available to Udyog Aadhaar holders, and they prove to be highly beneficial. 

The following are the advantages:-

  • Payment protection in the event of a payment delay.
  • Disputes are promptly resolved.
  • Bank loans with no collateral
  • For participating in an international trade show, you will receive special consideration.
  • Benefits of Octroi
  • Stamp duty and registration fees are waived.
  • Several Direct Tax Laws Exemptions
  • Barcode registration subsidy
  • Subsidy for NSIC Performance and Credit Ratings
  • Through CGSTI, the Government of India provides a counter-guarantee.
  • Banks’ interest rates have been reduced.
  • CLCSS scheme provides a 15% subsidy for technology upgrades.
  • When applying for government bids, there are some exemptions.
  • Reduced Electricity Bills
  • Payment for attaining ISO certification is refunded.
  • Interest on OD is exempted by 1%.
  • For optimal reasons, the acceptable loan ceiling has been increased from Rs. 25 lakh to Rs. 50 lakh.
  • Raising the level of guarantee coverage from 75% to 80%
  • MSME/SSI reserves products for exclusive production.
  • Obtaining Licenses is easier with easier registration and approvals.
  • Are you eligible for an IPS subsidy?
  • Preference in the awarding of government contracts
  • Scheme for Excise Exemption
  • The interest rates charged by banks have been lowered.
  • Patent registration is eligible for a 50% subsidy.

Some of the advantages that a Udyog Aadhaar bearer can make use of are listed above. Apart from this, the same benefits are available to Udyog Aadhaar holders if and when new schemes are established.

How can I register for a Udyog Aadhaar?

The procedure for obtaining a Udyog Aadhaar is quite straightforward. You do not need to get the form attested by a professional in order to register. Furthermore, there are no registration costs charged by the government.

UAM (Udyog Aadhaar Memorandum) is an acronym for “Udyog Aadhaar Memorandum.”

To begin, a Udyog Aadhaar Memorandum is a registration form that attests to the existence of an MSME. It also contains important details such as the owner’s Aadhaar number, bank account information, and so on. After the form has been filed on your behalf, the applicant will receive an acknowledgment form through email, which will include the unique UAN (Udyog Aadhaar Number). Supporting documentation is not required because this is a self-declaration form. While such documents are not necessary, any federal or state entity may request them as verification of information. 

What is Udyog Aadhar, and why do we require a copy of the Udyog Aadhar Memorandum?

Many small companies in our country have benefited from Udyog Aadhaar. Previously, if you wanted to start a small business, you had to get yourself SSI or MSME registered, which required a lot of paperwork. The UAM registration method has not only grown easier since the introduction of Udyog Aadhaar, but it has also aided the growth of small-scale enterprises in India. The procedure now just requires the completion of two forms, the Entrepreneur Memorandum-I and Entrepreneur Memorandum-II. Previously, the procedure required filling out 11 individual forms, which took a long time. 

This registration is not only less time-consuming, but it is also a completely free online process. The registration of Udyog Aadhar is useful to everyone. This is because small-scale enterprises that are registered under Udyog Aadhaar benefit from a variety of government programs, including fast loan approvals, incentives, and more. 

Suggested Read : Udyog Aadhar Download