Udyam Registration - Everything you Need to Know
Udyam Registration - Everything
you Need to Know
Entrepreneurs often have many doubts about Udyam Registration, which is a system specifically that caters to existing small-scale industries and is widely recognized among entrepreneurs. SSI registration is well known to entrepreneurs. It was modified by MSME Memorandum and Udyog Aadhaar has been brought upto date.
Udyam registration came into effect from 1st July 2020. This is an area where micro, small, and medium enterprises should get benefits from Centre- State Governments. This is not a statutory registration. However, registration is required to receive benefits and protection. For example, interest concessions on bank loans, priority, tender exemptions and subsidies. At present, individuals holding Udyog Adhar, MSME Memorandum, or SSI Registration are required to have completed Udyam registration.
A person who wants to start a business can get a new registration online. An application can be submitted on the basis of self-attested documents by entering the Udyam registration portal. No need to upload any documents. The main characteristics of Udyam registration is the connection between Adhar and enterprises. Once the process is completed, you will receive a registration number and registration certificate afterward. You can fill and submit the application for free on the registration form available on the portal.
Allow only one registration even if there is more than one enterprise. All information should be included in the current certification itself. Even if there is construction, service and other additional works, all should come under the same registration. Each individual is limited to one Udyam registration per unique Aadhar number. Industrial establishments have the option to obtain Udyam registration.
New and existing businesses alike are eligible to obtain Udyam registration, with the added benefit of being able to modify their registration as needed to reflect any organizational changes. Udyam registration can be taken even if there is registration in other institution. There are specific criteria for undertaking registration renewal.
