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The registration of Udyam Aadhaar is also known as MSME registration. It is an online process that every Micro, Small and Medium Enterprises must complete. In July 2020, the Ministry of MSME, convert the Udyog Aadhaar to Udyam Registration. It was introduced to create a single unified platform while replacing the multiple registration systems and simplifying the compliance processes.
The paperwork for registration gets reduced, and becomes easier for MSMEs to take benefit of government schemes. The Udyog Aadhaar was heavily reliant on Aadhaar linking which creates challenges for businesses that face Aadhaar-related issues. Through the implementation of Udyam Registration, the Aadhaar linkage has been removed and make the registration more accessible.
The Udyam certification is mandatory from the Ministry of Micro, Small and Medium Enterprises(MSMEs). The businesses get the registration certificate after signing on the official government portal. After registration, the enterprise receives a twelve-digit Unique Registration Number (URN). They can use this number to avail the various government subsidies, schemes and incentives.
Below are the steps for the Udyam registration certificate download:
To verify your udyam registration number, follow the below steps:
The following are the benefits of the Udyam Registration certificate:
The Government of India has introduced the advantage to MSMEs for getting bank loans without the requirement of collateral. This is done under the Credit Guarantee Scheme for all Micro and Small Enterprises. So, for the effective implementation of the scheme, the GoI has partnered with the Small Industries Development Bank of India (SIDBI) and the Ministry of Micro, Small, and Medium Enterprises.
As per the current regulatory framework, MSMEs get a 50% subsidy on patent registration fees which is a significant incentive for them to stay committed to the innovation. This opens up the path to innovation for small businesses and enterprises.
The MSMEs have access to low financial as compared to other businesses. If the customers delay the payment then disrupts the operational continuity. So, the Supreme Court created a rule for payment stating that on the purchase of goods or services, the payment must be made on the agreed-upon date or within 15 days from the acceptance of the service or goods. In case of delay, the buyer has to pay the compensation in the form of interest that is calculated at a rate three times higher than that specified by the Reserve Bank of India.
The process of taking the license is streamlined and the simplified operations minimise the bureaucratic complexities and compliances.
Through exemptions, business owners can save a lot of their taxes. However, during the initial days of their business, they can avail direct tax exemptions. So, these privileges provide entrepreneurs with a way to grow their ventures without the burden of tax.
Schemes such as Atma Nirbhar Bharat make the business self-reliant. Other programs are related to women entrepreneurs, Credit Guarantee, Micro Finance Programs and much more. These schemes empower enterprises that contribute to the Indian economy.
In the Udyam registration, the certificate of registration is provided to MSME. Through this certificate, businesses can avail the benefits of various government schemes. The process of downloading a Udyam certificate is easy and anyone can do it. The owner just has to visit the official website and follow the steps to download Udyam certificate. However, you don’t need to do a Udyog Aadhaar download as this converts automatically to Udyam, you can check this from the website.
If you are looking to apply for a Udyam Registration Certificate, then you can assist experts for easy and faster completion of the process.
Q. Is it possible to download the Udyam Registration Certificate without OTP?
Ans: No, without OTP, you cannot download the Udyam Registration Certificate. To verify your login, you need an OTP. But if you forgot the URN password, then you can reset it and for that, you need an OTP.
Q. Who is not eligible for Udyam?
Ans: An individual is not eligible for Udyam registration. Only the proprietorship, partnership firm, company, trust or society with an investment below Rs. 50 crore and annual turnover below Rs. 250 crore is eligible for MSME registration.
Q. What is the difference between MSME and Udyam registration?
Ans: There is no difference between the MSME and Udyam. The Udyam is a new registration that has been required for MSME since July 2020. Because of its many benefits, it has been implemented.
Q. Can I have multiple Udyam Registration?
Ans: No, an MSME can only have one Udyam registration based on their Aadhaar number. All the activities or branches related to the enterprise must be mentioned under a single Udyam registration.
Q. How can I check my Udyam registration certificate validity?
To check the validity of the Udyam registration certificate check the registration number validity from the official website of Udyam. Enter your registration number and verification code.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
