What is UDYOG AADHAAR Registration?
As SSI’s/MSMEs plays a very important role in the socio-economic development of India the government introduced the MSMED Act in 2006 to promote and encourage these industries. MSMED Act emphasized the following:
- a) Removal of multiple laws
- b) MSME Registration procedure
- c) Purchase preferences and credit policies
- d) Easy realization of MSMEs payment
A person who is registering under MSMED Act can enjoy different governmental schemes. Some of the important benefits are:
- Certain items are reserved exclusively for MSMEs/SSIs.
- Electricity bills concessions
- Higher chances of getting government tenders
- Concession in patent and trademark registration fee
- Easy bank loans with cheaper interest rate
- Stamp duty and registration charges are waived off
- Reimbursement under the bar code registration
- Subsidy in the industrial promotions
- Interest rate reduction by major banks
Documents required for UDYOG AADHAAR Registration
Here is the list of documents that are required by you to obtain the UDYOG AADHAAR registration:
- a) PAN cards
- b) Rent or Lease agreement in case if the office space is rented
- c) Electricity bill
- d) Identity proof of the proprietor/partners/directors
- e) Address proof of the proprietor/partners/directors
- f) For private limited companies:
– Form 32
– Form 18
– Incorporation Certificate
- g) For Partnerships:
- h) Industrial license and exemption notification for the enterprises listed in Schedule-III
- i) All other statutory clearances needs to be obtained such as No Objection Certificate (NOC)
Why Masters India Services?
- Masters India Services will take only 1-2 business days to obtains your MSME registration
- We have active client support that assists you through the MSME registration process
- We provide regular updates about the MSME registration process until it is completed
Q1. What is UDYOG AADHAAR memorandum?
Ans. UDYOG AADHAAR Memorandum is a self-declaration registration form. In this form, the applicant has to certify the MSME existence and provides certain information such as AADHAAR details, bank account details of the owner and so forth.
Once the UDYOG AADHAAR memorandum is furnished successfully an acknowledgement form is issued to the applicant on his registered e-mail ID containing the UDYOG AADHAAR Number (UAN).
Q2. Is it true that MSME or SSI can take bank loans at cheaper rates?
Ans. All the banks in India have recognized MSMEs/SSIs and have made special schemes for these industries and enterprises. This scheme may include prioritizing lending to these sectors or/and lower interest on the sanctioned bank loan.