In last few years, India has improved on the index of ease of doing business and this has made life really easy for the small and medium enterprise. This has also been a major factor for propulsion of growth and GDP in India. One such step to boost the growth of all the small-scale business is to make Udyog Aadhaar Registration process available online for people.
Before we begin talking about MSME Registration, we would like to tell you that after the registration, you will receive a 12 digit Aadhaar number on the name of the enterprise.
You might be wondering that how has it been made easy by the government? Well, the fact is that the people had to go through MSME Registration earlier and this required a lot of paperwork. The paperwork and lead time have been reduced drastically with help of Online Udyog Aadhaar Registration. Earlier, a person had to fill over 11 forms to get the registration done but now, this has been reduced to just 2.
Benefits of MSME Registration
When you plan to opt for a new process or new registration, you first want to check about the benefits of the certification and registration and this is certainly natural. Here are some of the benefits of MSME Registration for you.
- You get an exemption from Excise and you also get an exemption as per the direct tax laws.
- The fee for filing the patents and trademarks is also subsidised for MSME Registration.
- The government also provides several benefits after Udyog Aadhaar Registration and one such benefits is that the SME can also get a loan at subsidised rates. Even the electricity is provided at subsidised rates
- There are several benefits for participation in the foreign expo and the government also exempts you while you file the government tenders.
Documents Required for MSME Registration
There are some of the documents required for MSME Registration and we have listed all the documents required for MSME Registration
- Aadhaar Card of Business Owner
- Caste Certificate if Required
- Name of the Organization
- Details of the Organization along with Registration Documents
- Bank Account Details
- National Industrial Classification Code
- Details of the Workforce
- Details of Activities of SME
- PAN Number of Organization
- Balance Sheet of Organization
These were all the documents required for the MSME Registration. Once you have all the documents, you can move to the next section to start the registration process for Udyog Aadhaar.
Process to Get MSME Registration (Udyog Aadhaar)
As mentioned earlier, the process for MSME Registration has been made available online for the people. You don’t have to visit any of the government department to get this MSME Registration. Now, to get the MSME Registration, follow the process listed below
- Udyog Aadhaar Website – You can start the process by visiting the website for Udyog Aadhaar Registration Website. This is a dedicated portal for Udyog Aadhaar and you need to register here to begin the process. The URL for the portal is https://udyogaadhaar.gov.in/UA/UAM_Registration.aspx
- Aadhaar Validation – On this page, if you scroll down you will notice a column to enter the Aadhaar number and the name of the entrepreneur. Once that is done, click on Validate & Generate OTP. This will trigger an OTP Request and you need to validate OTP to move ahead.
- Basic Details – Select the category where you fall in and the options available are General, SC, ST or OBC. After entering this details, you will be asked to enter the details of the business. This includes the details of the company along with the type of organization.
- Organization Inception Details – In the next step, enter the contact details for enterprise along with contact number and address. Also, enter the address of your organization. Enter the date of start of operations date and all other mandatory details.
- Bank Details – When you proceed to the next section, you will be asked to enter the bank details. This includes the details of the bank account number, IFSC Code and the Name of Bank Account Holder. The bank account should be a current account and the account should be registered at the name of the organization.
- Details of Activities – You also need to select the activity of the organization and you also need to enter all the details of the activities that the organization has been involved with. You need to enter the details of the major activities here. This means that if your organization is involved mostly with manufacturing and a little with the service industry then the type that you need to select is manufacturing.
- Capital Infused – In this last section, you need to enter the details of the owner equity. This means that you need to enter the details of the investment made by you. Select the district industry centre and accept the declaration to complete the process.
- Documents Upload – Upload the relevant documents which are stated in the section above. Ensure that the documents are clearly scanned and there is no need to self-attest the documents. The information entered by you should match with the details of the documents that have been uploaded. Submit the document and the process is now complete.
After the completion of the process, you will receive an acknowledgement number. This acknowledgement number can be used to track the details. Once the verification is complete, the Udyog Aadhaar will be generated for you and this can be used by you for your future reference. The Aadhaar will be available for download online and you will also receive a hard copy of the Aadhaar.
Also, you need to know that it is possible to edit the Udyog Aadhaar with help of the same portal. It should also be noted that the new organizations do not require a Udyog Aadhaar and this is also needed for the existing organizations which do not have an MSME Registration or Udyog Aadhaar yet. All the new organizations are given Udyog Aadhaar when they opt for first registration.