Udyog Aadhaar comes during a sort of a Certificate and it's 12 digit license number that's circulated by the Ministry of Micro, Small and Medium Enterprises (MSME) to the prevailing or new small and medium enterprises who have initiated and completed the method for registration. the most reason behind launching the Udyog Aadhar is to maximise the advantages to the tiny and medium scale industries In India, who are registered with Ministry of Micro, Small and Medium Enterprises.
Benefits
- Excise exemption
- The exemption under the 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
- Financial support for six .participating in foreign business exposure from the govt of India.
- Subsidies provided to extend the company's revenue
- Concession in electricity bills
- The exemption provided when applying for state 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 little Enterprises also are eligible for collateral-free loans up to Rs. 1 crore under the Credit Guarantee Fund Trust for Micro and little Enterprises (CGTMSE Scheme). this is often a collateral free loan and therefore the Central Government takes guarantee of the borrower and to enhance the timely funds’ availability to the MSME Sector, the govt of India has classified loans to Micro and little Enterprises under priority sector lending. The banks are required to possess 20% year on year growth in lending to Micro and little Enterprises.The MSME registered enterprises get the support from the govt to participate within the foreign expo.The enterprise is additionally entitled to the govt 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 each one Central Government Ministries, Departments, and Public Sector Undertakings shall give Preference to Micro and little Enterprises in Government tenders and will procure the minimum of 20 percent of their total annual value of products or services from Micro and little Enterprises.Micro and little enterprises also enjoy Other Subsidies from State Governments like extended credit facilities, Industrial extension support, and services, Assistance in marketing, Assistance for construction of industries in underdeveloped areas, Technical consultancy, assistance within the capital, Excise exemption and Exemption under tax laws etc.
