Udyog Aadhar Registration Fees

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Udyog Aadhar Registration Fees

Small and medium-sized enterprises (MSMEs) are the backbone of India’s economy. They account for more than 45% of GDP and over 80% of employment in India. MSMEs have very high growth potential, and if nurtured correctly, can play a pivotal role in India’s economic development. However, MSMEs face several challenges, such as a lack of access to finance, marketing and technology.

The Udyog Aadhaar Registration is a scheme launched by the government of India to provide small businesses with easy access to credit and other benefits.

What is Udyog Aadhar Scheme?

The Udyog Aadhaar Scheme is a voluntary scheme for small businesses to get themselves registered with the government in order to avail of various benefits and subsidies.
Under this scheme, businesses can register themselves online and get a 12-digit unique identification number. This number will be used as proof of identity for availing of benefits under the scheme.

Benefits of Udyog Aadhar Scheme

The main benefits of the Udyog Aadhaar Scheme are:

1. Easy access to credit: Small businesses can use their Udyog Aadhaar number to apply for loans from banks and financial institutions. This will help them get access to credit at lower interest rates.
2. Government subsidies: Small businesses registered under the scheme will be eligible for various government subsidies and schemes.
3. Tax benefits: Small businesses registered under the scheme will be eligible for certain tax benefits.
4. Marketing support: Small businesses registered under the scheme will get access to marketing support from the government. This will help them promote their products and services.
5. Technology support: Small businesses registered under the scheme will get access to technical support from the government. This will help them improve their productivity and competitiveness.

Udyog Aadhar Registration Fee

There is no registration fee for the Udyog Aadhaar Scheme provided you do it yourself. Businesses can register themselves online free of cost.
If you take the help of a service provider, you might have to pay a nominal fee to the service provider for handling the process for you.

Is Udyog Aadhar and Udyam Registration the same?

Yes, Udyog Aadhar and Udyam Registration are the same.
Both are registration processes to avail of the benefits given under the MSMEs scheme.
Udyam registration is the new name given to Udyog Aadhar registration w.e.f 01st July 2020. The process and benefits of both the registrations are the same.
However, even if you have a Udyog Aadhar registration done, you have to do a process to migrate to Udyam registration to continue enjoying the benefits.
The migration can be done free of cost in the Udyam portal.

Eligibility Criteria for Udyog Aadhar Scheme

To be eligible for Udyog Aadhaar/Udyam scheme, your business must fall under the categorisation of micro, small and medium as per the MSMED Act:
Micro enterprises:
i. Investment in plant and machinery should not exceed Rs. 1 crore
ii. Turnover should not exceed Rs. 5 crore
Small enterprises:
i. Investment in plant and machinery should not exceed Rs. 10 crore
ii. Turnover should not exceed Rs. 50 crore
Medium enterprises: 
i. Investment in plant and machinery should not exceed Rs. 50 crore
ii. Turnover should not exceed Rs. 250 crore

Documents Required for Udyam Registration
The following documents are required for Udyam registration:
1. Aadhar Card
2. PAN Number
3. Bank account details
4. GSTIN (if applicable)
5. Business details
6. National Industrial Classification Code (NIC)

The Udyog Aadhaar Scheme is a great initiative by the government of India to support small businesses. The scheme will help small businesses in many ways and give them a level playing field to compete with larger businesses. We hope that more and more small businesses will take advantage of this scheme and make the most of it.

 


Author : Nivetha

Date     : 29-Jul-2022


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