After registering a business and obtaining Udyam Registration, one could be able to benefit from a lot of options. The greatest feature of obtaining Udyam Registration is that it is a painless task that should not require one to put up for any paperwork.
The goal of creating Udyam Registration would have been to minimize the procedure that company owners must go through in order to enrol their company as an MSME.
Prior to the establishment of Udyam Registration, the procedure for the very same was a rather stressful and long process that required the processing of a large number of papers. Nevertheless, with the advent of Udyam Registration, conditions have altered and simplified to a certain degree.
Looking for Udhyam Registration Form?
If you run a small business and haven’t registered it yet, you must realize that enrolling your business with Udyam Registration entitles you to plenty of perks. The major concern in the thoughts of many novice businessmen is what Udyam Registration is. Here is a detailed article that covers what Udyam is.
In short, Udyam Registration, also known as MSME Registration, is a government-issued registration that comes with a certificate of acknowledgement and a unique number. This is for the purpose of certifying small and medium-sized companies.
Benefits of Udyam Registration:
1. Registration to Udyam increases the availability of government projects.
2. Bank loans become cheaper as a response to Udyam since the interest rate is very low (up to1.5 times better than traditional financing).
3. Udyam is available for a number of tax deductions.
4. Receiving permissions, approvals, and registrations becomes easier, type of business of the organization. Businesses that also are registered as Udyam is given a higher status.
5. Obtaining registrations, permits, and approvals are easy.
6. MSME CLCSS (credit linked capital subsidy scheme) access is offered to formally known. International trade fairs are carefully codified
7. Waiver of its government’s security deposit (EMD) (Useful while participating tenders)
8. Negotiations on electricity bills
9. Waiver on stamp duty and registration fees
10. Waiver on stamp duty and registration fees
11. Reimbursement on ISO certification fees
12. Exemption as controlled under direct tax laws.
13. Subsidy for NSIC performance and credit rating fees
14. Subsidy on patent registration
15. Subsidy on barcode registration16. Eligibility for such Industrial Promotion Subsidy (IPS)