Why is Udyam Registration required? What is it?
Udyog Aadhar Registration is an online registration process launched by the Ministry of Micro, Small and Medium Enterprises (MSME) of the Government of India to register and recognize Micro, Small, and Medium Enterprises (MSMEs). This registration replaced the previous registration process of Udyog Aadhaar.
Udyam Registration is necessary for all new and existing MSMEs as it provides various benefits to the businesses such as:
Easy access to credit: Udyam registered businesses can avail of various financial schemes provided by the government, such as loans at a lower interest rate, credit facilities, and subsidies.
Government schemes and benefits: MSMEs registered under Udyam can avail of various government schemes such as priority sector lending, exemption under Direct Tax Laws, and other benefits like eligibility for various government tenders.
Protection against delayed payments: Udyam registration also provides businesses with protection against delayed payments from buyers, and they can raise grievances under the MSME Samadhan scheme.
Industry-specific benefits: Various state governments and departments provide industry-specific benefits to MSMEs registered under Udyam.
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What is the validity period of the Udyam Registration certificate?
The validity period of the Udyam Registration certificate is a lifetime. Once a business obtains the Udyam Registration certificate, it remains valid for the lifetime of the business. This means that the business does not need to renew or update its Udyam Registration certificate regularly.
However, it is important to note that businesses registered under Udyam need to update their details in case of any changes such as a change in the business address, ownership, or other relevant details. They can update their details through the Udyam Registration portal using their registered login credentials.
In case of any changes or discrepancies in the Udyam Registration certificate, businesses can contact the Udyam Registration helpdesk for assistance.
How much time does the Udyam Registration process take?
The Udyam Registration process is an online process and can be completed within a few minutes if all the required documents and information are readily available. The registration process involves the following steps:
- Visit the Udyam Registration portal (udyamregistration.co).
- Enter the Aadhaar card number of the authorized signatory and validate it using an OTP.
- Fill in the necessary details such as business name, type of organization, PAN card details, etc.
- Upload the required documents such as PAN card, GST certificate, etc.
- Self-declare the information provided and submit the application.
- After the submission of the application, a unique Udyam Registration number will be generated, and the applicant will receive the registration certificate through email.
It is important to note that the processing time for Udyam Registration may vary depending on the number of applications received and the completeness of the information provided. In general, it takes around 1-2 working days for the application to be processed and the certificate to be issued.
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