UDHYOG AADHAR
Udyog Aadhaar Registration:
Udyog Aadhaar Registration is a streamlined government registration process designed specifically for micro, small, and medium enterprises (MSMEs) in India. This registration is accompanied by a recognition certificate and a unique Udyog Aadhaar Number (UAN) to help promote the ease of doing business for MSMEs by simplifying the regulatory framework.
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Udyog Aadhaar Memorandum (UAM):
The Udyog Aadhaar Memorandum (UAM) is a one-page registration document that a business owner can fill out to register as an MSME. Upon submission, this memorandum facilitates the issuance of a unique UAN and helps in formalizing the enterprise as a legitimate business, recognized by the Government of India. It essentially acts as a declaration of the existence of the business.
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Reasons to Register Under Udyog Aadhaar:
- Simplified Registration Process: Udyog Aadhaar offers a single-page registration form, making it simpler and quicker than traditional MSME registration processes which were lengthy and cumbersome.
- Access to Credit: Registration makes businesses eligible for availing of credit guarantees from banks and financial institutions under various governmental schemes aimed at business development.
- Eligibility for Government Benefits: Enterprises registered under Udyog Aadhaar can avail themselves of numerous benefits such as eligibility for government subsidies, exemptions under direct tax laws, and preferential treatment in procuring government tenders.
- Ease of Getting Approvals and Licenses: The UAN helps enterprises reduce the hassle of obtaining clearances and approvals from regulatory bodies.
- Protection against Delayed Payments: Registered MSMEs enjoy legislative protection against delayed payments from their buyers and the right of interest on delayed payments through conciliation and arbitration and settlement of disputes be done in minimum time.
- Market Promotion Subsidy Eligibility: MSMEs can claim subsidies for expenses incurred to promote their business including participation in foreign expos, trade fairs, and more.
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Documents Required for Registration:
- Aadhaar Number: The Aadhaar number of the individual owner, or the managing director or authorised signatory in the case of a company.
- Bank Details: Details of the bank account associated with the business including IFSC code and account number.
- Personal, Business, and Communication Details: Information such as the entrepreneur’s name, gender, official address, email, and contact numbers.
- Business Details: PAN, location of the plant(s), and the main line of business activities.
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Registration Process:
- Visit the Official Udyog Aadhaar Portal: The first step involves visiting the official portal (http://udyogaadhaar.gov.in) designated for Udyog Aadhaar registration.
- Enter Aadhaar and Validate It: Input your Aadhaar number, and name as per Aadhaar, then submit this information to generate a One-Time Password (OTP) that will be sent to the Aadhaar-linked mobile number.
- Fill in the Application Form: After entering the OTP for verification, you will proceed to fill in the application form. This includes selecting the social category, detailing the enterprise type, providing the postal address, and specifying the previous registration details (if any).
- Bank and Business Details: Further details about the bank and specifics of the business need to be entered, such as the main business activity, NIC 2-digit code for the activity, the total number of people employed, and the amount of money invested in the business.
- Final Submission and Acknowledgement: After ensuring all information is accurate, submit the form. An acknowledgement number will be generated and sent to the registered email address.
- Receiving UAN: Post submission, the Udyog Aadhaar Number (UAN) will be issued which can be used for accessing various services and subsidies provided by the Ministry of MSME.