Aadhar Udyog
What Is Udyog Aadhaar?
Udyog Aadhaar comes in a form of a Certificate and it has 12 digit registration number that is circulated by the Ministry of Micro, Small and Medium Enterprises (MSME) to the existing or new small and medium enterprises who have initiated and completed the process for registration. The Main reason behind launching the Udyog Aadhar is to maximize the benefits to the small and medium scale industries In India, who are registered with Ministry of Micro, Small and Medium Enterprises.
Features:
- Excise exemption
- The exemption under the direct tax laws
- 50% reduction in fee for filing patents and trademarks
- Credit guarantee scheme
- Protection from delayed payments
- Loans without guarantee, low-5.interest rates on loan
- Subsidies provided to increase the company’s revenue
- Concession in electricity bills
- The exemption provided when applying for government tenders
- Octroi benefits
Udyog aadhar Benefits to small and medium business
Once registered with Msme and receives a Udyog aadhar , the micro, small or the medium enterprise would be eligible for all government scheme benefits like without guarantee loan, easy loan, the loan with the low rate of interest. The Micro and Small Enterprises are also eligible for collateral-free loans up to Rs. 1 crore under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE Scheme).
This is a collateral free loan and the Central Government takes guarantee of the borrower and To improve the timely funds’ availability to the MSME Sector, the Government of India has classified loans to Micro and Small Enterprises under priority sector lending.
The banks are required to have 20% year on year growth in lending to Micro and Small Enterprises.The MSME registered enterprises get the financial support from the Government to participate in the foreign expo.
The enterprise is also entitled to the Government subsidies as Central Government and State Governments announced under different schemes and subsidies for the MSME sector from time to time.The Government of India, by the way of Public Procurement Policy, 2012 provides that all Central Government Ministries, Departments, and Public Sector Undertakings shall give Preference to Micro and Small Enterprises in Government tenders and should procure the minimum of 20 percent of their total annual value of goods or services from Micro and Small Enterprises.Micro and Small enterprises also enjoy Other Subsidies from State Governments such as extended credit facilities, Industrial extension support, and services, Assistance in marketing, Assistance for construction of industries in underdeveloped areas, Technical consultancy, assistance in the capital, Excise exemption and Exemption under direct tax laws etc.