12 Benefits of Udyam registration

Today we are going to discuss the benefits of Udyam registration. Before Focusing on the benefits of Udyam registration, I will precisely discuss the Udyam registration.

About Udyam registration :

Any enterprises in India as if it is micro, small, or medium enterprises need to be registered under the MSME  act, 2006 to avail of the government facilities and relaxations provided through the government schemes to these industries or enterprises. Without getting this registration, a number of enterprises will fail to get the facilities and relaxations scheme provided by the GOI. This Udya registration is issued by the Ministry of MSME.

Now we come to the conclusion that to run the business in the open market, it is necessary to have this kind of registration so that the enterprises can get the opportunity and the facility provided by the government.

Now we will know about the process of Udyam registration concisely. 

So the process of registration is done in the name of Udyam registration. This new rule of classification and registration process has been started from 1st July 2020. All the enterprises for this purpose are known as Udyam and its registration is known as Udyam registration. for the Udyam registration, MSME Ministry launched a new web portal. Before knowing about the benefits of Udyam registration, we should know about the process of registration and supporting documents to fill this process. By doing so,  we can easily find out the benefits of Udyam registration. because for any enterprise one of the problems is registering their enterprises, the process of registration, and the availability of documents. as we know that a large chunk of enterprises is not registered in India because of the lengthy paperwork involved in the process and therefore these enterprises are unable to get the benefits offered by the government schemes. So finally we get to the conclusion that all enterprises as it is micro, small, and medium enterprises need to get registered under Udyam registration. Now we will discuss Udyam registration, its process, and the benefits of its registration.

How can I register on the Udyam portal? and what are documents needed to get registered? 

Along with the benefits of Udyam registration. so, this registration process is completely online, no paper is required for the registration and it is based on the self-declaration. users only have to give their 12 digits and biometric aadhar number for their registration.

The Udyam registration is completed after completing the entire process of registration, then a certificate is issued which is the Udyam registration certificate.

A dynamic QR code is printed on the registration certificate, with the help of this code, details about the enterprises can be accessed. After getting this certificate there is no need for renewal of registration. And the details like GST and PAN and the annual turnover of the enterprises will be taken automatically from the concerned government database.

The Udyam registered enterprise has no need to apply for more than one registration. any activities like manufacturing and services or both may be added and specified in one Udyam registration.

Last but not least, there are no charges taken to complete the registration process, it is free of cost.

Now we go to the pointwise benefits of Udyam registration :

1. Registered enterprises can get subsidies on bank loans.
2. They need not provide collateral for bank loans.
3. They have a backup from delayed payments on the supply of the services or items.
4. Easily can get the license, approvals, and registration.
5. Concession on electricity payments 
6. Avail of the subsidy on barcode registration. 
7. Get the subsidy on payment registration. 
8. Subsidy on IPS( Industrial promotion subsidy).
9. Paperless registration
10. Registered entities are eligible for credit-linked capital subsidies. 
11. Can avail of the opportunity and relaxation facility provided by the MSME ministry.
12. Eligibility of reimbursement on ISO certificate fees.

Suggested Read- how to update udyam certificate

Knowing all the above facts about the Udyam registration now we can evaluate the benefits of its registration for the enterprises that are not registered due to the hassle type of process and the number of documents taken by them. Now curving these problems, the MSME ministry introduced this Udyam registration portal facility which is hassle-free and has no need to provide the documents, only ask about the 12 digits aadhar, and your registration is completed.

So in this article, i told about Udyam registration, the process of registration, and what are the benefits of this registration for MSME enterprises.