What is the use of Udyog Aadhar Registration? - Letsdiskuss
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Posted 20 Jan, 2020 |

What is the use of Udyog Aadhar Registration?

Shailendra Kumar

Finance Advisor | Posted 20 Jan, 2020

Udyog Aadhaar registration helps the Government of India maintain a complete database of the nation’s micro, small, and medium scale enterprises. Registered organisations are provided with a recognition certificate and a unique acknowledgement number through which MSMEs can access several benefits offered to them by the Government of India.

Moreover, there are several other benefits of registering with Udyog Aadhaar. Companies can enjoy Octroi benefits, avail several exemptions under Direct Tax Laws, and even avail collateral-free business loans from financial institutions. These credits are usually offered at a subsidised rate. For instance, a 15% subsidy is offered under the CLCSS scheme to companies looking to upgrade their existing technologies.

Organisations that have completed Udyog Aadhaar registration can also enjoy protection against any delay in repayment and a more substantial guarantee cover of 80% rather than 75%.

The Udyog Aadhaar registration process is available online, and it’s hassle-free to ensure applicants face zero difficulties while completing the essential steps. Minimum documentation also ensures that the process stays streamlined; an applicant only has to submit necessary paperwork like –

  • Aadhaar details of the business owner.
  • Any existing registration details.
  • National Industrial Classification code.
  • Details such as a number of employees in the firm, contact information, detailed account of the total investment made and the Permanent Account Number of the company.
  • The detailed report of current activities of the firm.

Udyog Aadhaar registration is free of charge and can be completed from the official government portal.