It was launched in September 2015 with the purpose to promote small businesses. Since its launch, approximately 87 Lacs businesses have registered for Udyog Aadhaar. Government charges nothing for Udyog Aadhaar Registration and has not appointed any representative for the same. Once applied the validity of registration will be lifetime assuming the business will be a going concern. Businesses need not file any return under the said registration.
Eligibility for Udyog Aadhaar
Not every business is eligible for getting Udyog Registration. There is some criteria for getting eligibility for Udyog Aadhaar. Only those businesses, which are classified as a micro, small or medium enterprise, based on investment in plant and machinery and equipment shall be eligible for Udyog Registration. Let us have a look upon how the Businesses are classified.
Procedure for applying for Udyog Aadhaar
Registration under Udyog Aadhaar is through online process. Aadhaar card of Individual is mandatory for applying for Udyog Registration. Before filling out the form, individual Aadhaar number needs to be validated through mobile number linked to the said Aadhaar. In case of sole proprietorship, Aadhaar number of individual is to be provided, in case of partnership firm, the partner applying for Udyog Aadhaar shall give his/ her Aadhaar number and in case of company, the authorized signatory applying on behalf of company shall give his Aadhaar number. After Aadhaar validation, fill out the form. Information required is
Individual’s Aadhaar Number.Name of Entrepreneur.Social Category i.e. SC/ ST/ OBC/ General.Type of Organization i.e. Proprietary/ Hindu Undivided Family/ Partnership/ Co -operative/ Private Limited Company/ Public Limited Company/ Self Help Group/ Others (Limited Liability Partnerships)PAN number in case of Co Operative, Private Limited, Public Limited, and Limited Liability Partnerships.Postal AddressMobile number and emailDate of commencement of business.Previous registration details i.e. details of previous MSME/ SSI registration if any.Bank details of applicant, which shall include Bank Account Number and IFSC Code.Major activity of the business whether manufacturing or service. In some cases an enterprise may provide manufacturing and service both. In that case major activity is to be selected.NIC code should be entered from the National Industrial Classification available in form.The total number of persons employed in the business.Amount of Investment made in Plant & Machinery and equipments.Details of District Industry Centre. It will be filled automatically in case of enterprise location having only one DIC.
Benefits of Udyog Aadhaar
Protection against delay in payment.Octroi Benefits.Concession in Electricity Bills.Reduced rate of interest from banks.Waiver of stamp duty and registration fees.Exclusive consideration for participating in International Trade Fair.Exemptions while applying for Government Tenders.
This is an attempt of the Government of India to make the process of registration of a company under Micro Small and Medium Enterprises very easy and simple for the business owners as the earlier process was quite hectic, cumbersome and time consuming. Recommended
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