Why Micro, Small and Medium Enterprises should have Udyog Aadhar?

UDYOG AADHAAR

Both the Central and the Tamil Nadu Government are having several schemes for micro, small and medium enterprises with an objective to promote entrepreneurship. For instance, the enterprise which registers with the Ministry of Micro, Small & Medium Enterprises and gets Udyog Aadhaar Number becomes eligible for getting various schemes of both Central Government as well as schemes of the State Government.

Udyog Aadhaar is nothing but merely registering the basic details of your business at https://udyamregistration.gov.in/Government-India/Ministry-MSME-registration.htm , which will facilitate the Government in assisting you in your business by various means in a convenient way. Upon filling this form, the business enterprise or the proprietor in case of proprietorship business would be provided with Udyog Aadhar, free of cost.

What having Udyog Aadhar means for the Enterprises/Proprietors?

• It will provide an identity by giving the Unique number (Udyog Aadhar), which can be used in Invoices, Contracts, and Bills etc. of the concern.

• The business would be entitled for many schemes of the Central and State Governments like preference in government tenders, preference in trade fairs. Especially Central Government’s Credit Guarantee scheme, Skill Development Scheme, Marketing Assistance Scheme etc.

• Business dues can be recovered easily even without approaching court since you are entitled to make reference to the Micro & Small Enterprises Facilitation Council (MSEFC) under SMSE Act,2006 and makes recovery inexpensive and quick.

•   It will also makes you eligible for reduced interest rate from banks.

•  It will also makes you eligible for getting power/electricity subsidy.

Tamil Nadu’s schemes for the Micro, Small and Medium Enterprises

• The Commissionerate of Industries and Commerce, Tamil Nadu provides many incentives to the Micro, Small and Medium Enterprises, which are having Udyog Aadhar:-

• 50% rebate on the actual value of stamp duty and registration charges paid to the Registration Department.

• 50% subsidy on the cost of filing application for Patent Registration including the cost of first-time maintenance fee of the granted application, subject to a maximum of Rs.2.00 lakhs per Patent registered.

• 50% subsidy on the cost of filing application for Trade Mark Registration including the cost of first-time maintenance fee of the granted application, subject to a maximum of Rs.25, 000/- per Trade Mark registered.

•  Reservation of up to 20% of land in all State Industries Promotion Corporation of Tamil Nadu (SIPCOT) estates.

• Reservation of up to 30% of land in all State Industries Development Corporation (SIDCO) estates.

• For Micro Manufacturing Enterprises established in anywhere in the State, the Government  of Tamil Nadu provides 15% Capital Subsidy on the value of eligible Plant and Machinery, 20% low tension power tariff subsidy for 36 months, stamp duty exemption on mortgaged and pledged documents.

• 5% additional capital subsidy on the value of eligible plant and machinery enterprises set up by women, SC/ST, differently-abled and transgender entrepreneurs. 

•  The Government also provides subsidy schemes for industrially backward blocks and Agro-based Enterprise like 25% capital subsidy on the value of eligible plant and machinery, 5% addition employment incentive subsidy for providing employment to 25 workers.

Besides this, there are numerous benefits awaiting to Micro, Small and Medium Enterprises which are registered under the MSME Act, 2006, i.e., having Udyog Aadhar.

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