Benefits of Udyam registration

Any business that wants to register under MSME should apply for the Udyam registration certificate. Udyam Registration portal is a self-declaration basis portal without adding or uploading any document/ certificate/ paper. As per the notification issued by the ministry of micro small medium enterprises on 1st June 2020, MSMEs will now be known as Udyam. And the registration process for an organization as an Udyam will be called Udyam Enrollment Registration. Any person who intends to establish micro, small, or medium businesses will have to file for Udyam registration in the online Udyam Registration Portals. The business will subsequently be issued an Udyam Registration Number and an e-certificate namely, ‘Udyam Registration Certificate’. As per the notification of the ministry of the MSME, all the existing Indian companies and enterprises shall file and register as Udyam on or before 31st Mar 2021. The old Udyog Aadhaar Memorandum can be upgraded to Udyam Registration by verifying/seeding the PAN. Benefits of udyam registration.

• Collateral free loans from banks
• Protection against delayed payments, against material / services supplied
• Special beneficial reservation policies in the manufacturing/ production sector
• Ease of obtaining registrations, licenses and approvals.
• Msme Registered entity gets eligible for CLCSS (credit linked capital subsidy scheme)
• International trade fair special consideration
• Government security deposit (EMD) waiver (Useful while participating tenders)
• Electricity bills concession
• Stamp duty and registration fees waiver
• ISO certification fees reimbursement
• Direct tax laws rules exemption
• NSIC performance and credit rating fees subsidy
• Patent registration subsidy
• Barcode registration subsidy
• Industrial Promotion Subsidy (IPS) Subsidy Eligibility