A trademark is a distinctive marker that distinguishes products or services from competitors. It can include symbols, designs, expressions or identifiable features associated with a specific brand.
Udyam Registration
Service Details
Udyam Registration
In today's competitive business landscape, it is crucial for small and medium-sized enterprises (SMEs) to leverage government initiatives that streamline operations, offer benefits, and provide formal recognition. One such initiative by the Government of India is Udyog Aadhar registration, now known as Udyam registration. This initiative is designed to support the growth and development of micro, small, and medium enterprises (MSMEs) nationwide. Udyam Registration also referred to as MSME Registration, is the updated process for registering MSMEs introduced by the Ministry of Micro, Small & Medium Enterprises on July 1, 2020. Alongside this new registration process, the Ministry also updated the MSME classification criteria.
TrueandTrade is your trusted partner when it comes to simplifying the Udyam Aadhaar registration process. Our dedicated team of experts is well-versed in the intricacies of the Udyam registration online process and can help your business secure its Udyam Certificate and Registration Number swiftly and seamlessly.
TrueandTrade is your trusted partner when it comes to simplifying the Udyam Aadhaar registration process. Our dedicated team of experts is well-versed in the intricacies of the Udyam registration online process and can help your business secure its Udyam Certificate and Registration Number swiftly and seamlessly.
What is Udyam Registration?
Udyam Registration is an official process initiated by the Ministry of Micro, Small, and Medium Enterprises (MSMEs), Government of India, for the formal registration of micro, small, and medium enterprises (MSMEs). Introduced on July 1, 2020, it replaced the earlier Udyog Aadhar Memorandum (UAM) system. The Udyog Aadhar/Udyam registration is designed to classify enterprises based on their investment and turnover. As per the new classification metrics, all Micro, Small, and Medium Enterprises (MSMEs) in India are collectively known as MSME. Entrepreneurs can apply for MSME Udyam Registration online, and upon successful completion, the enterprise is assigned a permanent Udyam Registration Number and receives an e-certificate known as the Udyam Registration Certificate. This online, self-declaration-based process aims to streamline access to government benefits.
Access to Government Schemes
MSME registration provides eligibility for various government schemes, including subsidies, incentives, and financial support.
Ease of Credit Availability
Registered MSMEs can avail loans at lower interest rates with fewer requirements, promoting easier access to credit.
Tax Benefits
MSMEs can enjoy various tax rebates and exemptions, reducing their financial burden.
Market Expansion Opportunities
Registration helps MSMEs gain credibility and access larger markets, including government tenders and export incentives.
Who can Apply for Udyam Registration?
Any individual who intends to establish a micro, small or medium enterprise can file for Udyog Aadhar/Udyam Registration online through the Udyam Registration portal. Eligible applicants include:
- Proprietorships
- Hindu Undivided Family (HUF)
- Partnership Firm
- One Person Company (OPC)
- Private Limited Company
- Public Limited Company
- Producer Company
- Limited Liability Partnership (LLP)
- Any Association of Persons
- Co-operative Societies
No enterprise is permitted to file more than one Udyam Registration and MSME/Udyam Certificate. However, a single Udyam Registration can encompass multiple activities, including manufacturing, services or both, ensuring comprehensive coverage under one registration.
MSME Udyam Registration Benefits
Benefits of having a Udyam Registration Number for your business include:
Special Preference in Government Tenders
Registered Udyam enterprises receive preferential treatment in government procurement processes, enhancing their chances of securing contracts.
Access to Collateral-Free Bank Loans
Udyam Registration, along with the Udyam registration certificate, facilitates access to bank loans without the need for collateral or mortgage, making it easier for MSMEs to secure financing.
Interest Rate Exemption
Udyam Aadhaar Registered businesses are eligible for a 1% interest rate exemption on bank overdrafts (OD), reducing their borrowing costs.
Eligibility for Tax Rebates
Udyam enterprises can benefit from various tax rebates, providing significant tax savings.
Priority in Licensing and Certification
Udyam Aadhaar Registration offers priority consideration for obtaining government licenses and certifications, streamlining business operations.
Tariff and Capital Subsidies
Registered MSMEs with MSME Udyam certificate are eligible for tariff subsidies as well as tax and capital subsidies, lowering their operational costs.
Electricity Bill Discounts
Udyam enterprises receive discounts on electricity bills, reducing their utility expenses.
Protection Against Delayed Payments
Udyam Registration offers protection against delayed payments from buyers, ensuring better cash flow management.
Trademark and Patent Discounts
Registered businesses can avail of a 50% discount on government fees for filing trademarks and patents, making intellectual property protection more affordable.
Expedited Dispute Resolution
Udyam enterprises benefit from faster resolution of disputes, minimizing business interruptions and legal costs.
Documents Required for Udyam Registration
When it comes to the documents required for the Online Udyam Registration process, it is worth noting that the application is primarily based on self-declaration. As such, uploading any additional documents during the registration procedure is unnecessary. Applicants must only provide their 12-digit Aadhaar Number, PAN (Permanent Account Number), and Bank Account details of the business to complete the registration process efficiently.
- PAN Card Number: The Permanent Account Number (PAN) of the business or the proprietor.
- Aadhaar Number: The Aadhaar card number is required as follows:
- Proprietorship Firms: Aadhaar card of the proprietor.
- Partnership Firms: Aadhaar card of the managing partner.
- LLPs, Companies, Cooperative Societies or Trusts: Aadhaar card of the authorized signatory.
- GST Number (if applicable): The GST number is mandatory only for enterprises that require GST registration.
Validity of Udyam Certificate
The Udyam Registration Certificate is valid for a lifetime and does not require renewal, provided the enterprise continues to meet the classification criteria for MSMEs.
Eligibility Criteria for Udyam Registration
To be eligible for Udyam registration and get Udyam registration certificate, your business must fall under the category of a Micro, Small or Medium Enterprise based on specific investment and turnover thresholds as outlined below:
In addition to these details, you will be required to submit the following documents to complete the trademark registration online or even logo trademark registration process:
| Enterprise Type | Investment Criteria | Annual Turnover Criteria |
|---|---|---|
| Micro Enterprise | Up to Rs. 1 crore | Not exceeding Rs. 5 crore |
| Small Enterprise | Up to Rs. 10 crore | Not exceeding Rs. 50 crore |
| Medium Enterprise | Up to Rs. 50 crore | Not exceeding Rs. 250 crore |
Businesses meeting these criteria can apply for Udyam Registration to avail of various benefits provided under the MSME schemes.
general questions
Frequently Asked Question.
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Q: What are udyam registration fees?
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Q: What is NIC code for Udyam Registration?
The NIC code is a business code that is provided by the government to track the business proceedings for the organization under the micro, small and medium enterprises.
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Q: How many NIC codes can one add to NIC registration?
One can add a maximum of 10 NIC codes for Udyam registration.
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Q: What is the Udyam Registration?
Udyam registration is the latest Registration procedure for the Micro, Small, and Medium Enterprises (MSME), launched on July 1, 2020, by the government to ease the registration process. IndiaFilings simplifies the registration process and helps you obtain Udyam certificate.
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