Udyog Aadhar or Udyam Aadhar is a twelve digit Unique Identification Number provided by Ministry of Micro, Small & Medium Enterprises, Government of India. Any person who intends to establish a micro, small or medium enterprise can file for Udyam registration. It is also known as Aadhar for business.
MSME Act came into force on 2nd Oct 2006 to promote self-employment in the country through setting up of micro enterprises. Udyam Registration is the new process of MSME/UDYOG launched by the ministry on 1st July 2020.
Benefits of Udyam/Udyog Aadhar Registration:
£ Collateral Free Bank Loans under Credit Guarantee Fund Scheme,
£ Easy clearance of pending payments through conciliation & arbitration,
£ Overdraft facility with interest exemption,
£ 50% discount on trademarks & Patent Fees,
£ Concession on electricity bills,
£ Reimbursement of ISO Certification charges,
£ Government Tenders easily,
£ Exemption under Direct Tax laws.
REGISTRATION FOR EXISTING ENTERPRISES:
£ Existing enterprises registered under EM-Part II or UAM have to register again with Udyam Aadhar on or after 1st July, 2020,
£ Existing enterprises registered prior to 30th June, 2020 shall continue to be valid only for a period up to 31st March, 2020,
£ An enterprise registered with any other organization under the Ministry of Micro, Small & Medium Enterprises shall register itself under Udyam Registration.