#udyog aadhar sample

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Udyam Annexure : A Roadmap to MSMEs Growth and Compliance

Micro, small, and medium-scale industries (MSMEs) are the other engines of the economy and play a crucial role in the economic growth of India. MSMEs cannot avail themselves of the different tax concessions and incentives offered by the government to help them run their businesses successfully because they lack information about many things that are provided after completion of Udyam registration.  

MSMEs can better utilise all government incentives and restart their enterprises by adhering to all compliance requirements after the Udyam Annexure is put into effect. Following the implementation of the Udyam Annexure, MSMEs can better use all government incentives and get their businesses back on track by complying with all compliance requirements.

MSME owners need to comprehend the Udyam Annexure and its function in Udyam Certificate registration, compliance, and expansion. Everything you need to know, such as how to download your Udyam Annexure Certificate and its significance, will be covered in this post.

Udyam Annexure: What is it?  

The Udyam Registration Certificate goes along with an official document called the Udyam Annexure. It offers important information about an MSME, such as: 

Business Information (Name, Address, and Business Type) 

MSMEs' Unique Identifier or UAM Number  

Information on Investment and Turnover  

NIC Codes (Business Activity Type)  

Information about imports and exports (if appropriate)  

Additional Important 

Compliance Information  

This annexure acts as a guide for MSMEs, guaranteeing adherence to governmental regulations while assisting them in obtaining funding, incentives, and market prospects.

How to get Udyam Annexure Certificate

By getting a Udyam Annexure Certificate, you can get a lot of benefits. One of them is that your loan approval will be at a faster rate, so getting a Udyam Annexure Certificate is necessary for MSME. Follow the steps given by us and get your Udyam Annexure Certificate.

Step 1: First of all, go to Udyam Online Registration Portal

Step 2: After the home page opens, you will see the Udyam Annexure Certificate section in the navigation bar of your screen; click there

Step 3: Udyam Annexure Online Form will be visible on your screen, fill it correctly, such as

In personal information

Applicant's name

Mobile number

Email ID

Udyam Registration Number

Please note that you have given the same mobile number and email ID at the time of Udyam registration.

Step 4: Choose the option in which you want OTP, like choosing one of the two mobile numbers and email ID, but keep in mind that your OTP will come in the mobile number and email ID mentioned in your certificate.

Step 5: Enter the verification code appearing on the screen in the box given below.

Step 6: Tick mark the box of Terms of Service and tick mark the box of Declaration.

Step 7 Finally,, click on Submit Information

After this, you will reach directly our payment gate. After paying some charges, you will get an OTP on your number for verification. Enter that OTP and verify it. After this, you will be able to download your Udyam Annexure Certificate.

Udyam Annexure's Significance for MSMEs  

1. Compliance & Legal Recognition  

MSMEs are granted legal recognition through the Udyog Aadhar and Udyam certificates.

Compliance with government regulations is further confirmed by the Udyam Annexure. 

2. Obtaining Government Benefits  

Companies that have the annexure and are registered under Udyam are eligible for tax breaks, subsidies, and quick loan approvals. 

3. Simpler Loans & Financial Assistance 

To authorise credit plans and loans without collateral, financial institutions need the Udyam Annexure and the MSME Certificate Registration. 

 4. Improved Tender and Market Opportunities  

MSMEs can take part in government bids and receive preference in procurement policies if they have valid Udyam Certificates and annexures. 

5. Needs for GST and Other Compliance

For MSMEs to be eligible for tax incentives and to file for GST, the Aadhar Udyog Registration and Annexure are essential.

Typical Problems and Fixes for Udyam Registration and Annexure Download:

Is your Udyam registration number missing?

Click "Forgot Udyam Number" after visiting the Udyam portal. To get it, enter your registered email address or mobile number and confirm the OTP. 

Unable to download the Annexure or Udyam Certificate? 

Make sure your registration information is accurate. Verify whether your MSME is still registered with Udyam. For technical assistance, call the Udyami Helpline.

Udyog Aadhar Registration Error? 

To prevent compliance problems, update your information on the Udyam site if there are inconsistencies in your Udyog Aadhar.

Why Should MSMEs Update Their Registration on Udyam? 

MSMEs need to make sure their information in the Udyam system is current due to evolving policies. Updating is beneficial: 

Continue to qualify for MSME advantages. 

Continue to comply with taxes 

Ensure that business operations run smoothly. 

It's time to update your registration if you haven't already switched from Udyog Aadhar to Udyam to prevent losing out on government advantages.

In summary

One of the most important documents that help MSMEs stay in compliance and grow their businesses with government support is the Udyam Annexure. Ensuring you have your Udyam Certificate PDF, Udyam Aadhar Download, and Udyog Aadhar Certificate readily available is paramount for smooth operations, whether you are registering for the first time or modifying your data. You can protect the future of your business and gain multiple financial and legal benefits by getting the proper MSME Online Registration, Udyam Certificate Registration, and Aadhar Udyog Registration procedures done. 

Take a step towards company success by downloading your Udyam Certificate and annexure now if you haven't already!

[udyamregister]

Udyam Registration Certificate Sample: Everything You Need to Know

The Udyam Registration Certificate is an essential document for small and medium enterprises (SMEs) in India. It is issued under the Udyam Registration initiative, which is part of the Indian Government's effort to promote the growth and development of micro, small, and medium enterprises (MSMEs) across the country. The certificate plays a pivotal role in enabling MSMEs to access various government schemes, financial benefits, and other support services.

In this article, we will explore the udyam certificate download pdf in detail, what it represents, the process to obtain it, and provide a sample of the certificate to help you understand its format and content.

What is Udyam Registration?

Udyam Registration is an online process through which micro, small, and medium enterprises (MSMEs) can register their businesses with the Ministry of Micro, Small and Medium Enterprises, Government of India. The registration process is free of cost and provides businesses with a unique identification number that allows them to avail of various government benefits.

The Udyam Registration process replaced the earlier Udyog Aadhar Registration as per the MSME Development Act, 2006, with an enhanced and streamlined approach. The aim is to simplify the registration process and make it more user-friendly, especially for small businesses that are crucial to India's economy.

The key benefits of Udyam Registration include:

Access to Credit: MSMEs can avail of financial support from banks and other financial institutions at competitive interest rates.

Subsidies and Tax Benefits: The government offers various subsidies and tax incentives for MSMEs to encourage their growth.

Government Tenders: Registered MSMEs are eligible to participate in government tenders and procurement processes.

Easy Access to Schemes: Various government schemes, including those for innovation and skill development, are available to Udyam-registered businesses.

Protection Against Delayed Payments: MSMEs registered under Udyam are protected against delayed payments from buyers as per the MSMED Act.

Who Needs to Register for Udyam Certification?

Udyam Registration is available to:

Micro Enterprises: Businesses with investments in plant and machinery or equipment up to ₹1 crore and an annual turnover of up to ₹5 crore.

Small Enterprises: Businesses with investments between ₹1 crore and ₹10 crore and an annual turnover between ₹5 crore and ��50 crore.

Medium Enterprises: Businesses with investments between ₹10 crore and ₹50 crore and an annual turnover between ₹50 crore and ₹250 crore.

Any business that falls into these categories can apply for Udyam Registration. Registration is voluntary, but it is highly recommended as it opens the door to numerous benefits from the government and other organizations.

Also read : -  udyam aadhar download

Steps to Obtain Udyam Registration Certificate

Step 1: Visit the Official Udyam Registration Portal

The process of Udyam Registration is entirely online, and the application must be submitted through the official Udyam Registration portal. Ensure that you have access to the internet and the necessary details before starting the registration process.

Step 2: Provide Details About the Business

The registration form requires the following details:

Aadhaar Number: The applicant must have a valid Aadhaar number. It is mandatory for the business owner to have a valid Aadhaar linked to their name.

PAN Number: Businesses are also required to have a PAN (Permanent Account Number).

Business Details: This includes information about the enterprise such as its name, nature, type of business, and details of the business activities.

Investment and Turnover Information: You will need to provide details of your investment in plant and machinery and the turnover for the last year.

Step 3: Fill in the Registration Form

Once the details are gathered, fill in the registration form with the required information. You will need to enter:

Personal details of the business owner (such as name, Aadhaar number, etc.)

Business details (such as the type of enterprise, product categories, etc.)

Financial details (investment and turnover)

The system will automatically classify your business into micro, small, or medium enterprise based on the details you provide.

Step 4: Submit the Application

After filling out the form, you will need to submit it online. You will also receive an OTP (One-Time Password) to authenticate the application. Once the submission is complete, a unique Udyam Registration Number (URN) will be generated.

Step 5: Issuance of Udyam Registration Certificate

After successful submission of the form, the Udyam Registration Certificate will be issued. This certificate will be available for download from the portal. The certificate is a confirmation of your enterprise's registration and will include essential details such as the name of the enterprise, its registration number, category, and date of registration.

Udyam Registration Certificate: Key Details

The Udyam Registration Certificate includes the following information:

Udyam Registration Number (URN): A unique identification number issued to the enterprise.

Name of the Enterprise: The registered name of the business.

Type of Enterprise: Whether the enterprise is micro, small, or medium.

Date of Registration: The date when the business was officially registered.

PAN Number: The PAN number of the business.

Details of Investment: Information about the investment in plant and machinery or equipment.

Annual Turnover: The annual turnover of the business for the last financial year.

This certificate is an official document and can be used to avail of various benefits and subsidies offered by the Government of India.

Importance of the Udyam Registration Certificate

Government Recognition: The certificate serves as an official recognition of your business as a valid MSME entity under the Indian Government.

Access to Government Schemes: With the certificate, businesses can apply for various government schemes, subsidies, and financial support programs aimed at MSMEs.

Bank Loans and Credit: Udyam-registered businesses can easily obtain loans from banks at favorable terms, which is critical for growth and expansion.

Protection Against Late Payments: The MSMED Act allows businesses to claim interest on delayed payments from buyers, which helps protect cash flow for MSMEs.

Conclusion

The udyam certificate download is an essential document for businesses in India that want to tap into the wide range of benefits provided by the government for micro, small, and medium enterprises. It simplifies access to financial assistance, government schemes, and legal protections. The online registration process is simple, and with the free registration, every MSME can ensure its inclusion in India's development story.

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The Udyog Aadhar Registration Online portal makes it easy for small and micro enterprises in India to register and receive a unique identification number, called the Udyog Aadhar Certificate. This certificate includes details like the enterprise's name, location, and ownership. Here is a sample Udyog Aadhar Certificate that an enterprise may receive after registering online. The certificate is valid for five years and subject to renewal as per the portal's regulations. The Udyog Aadhar Certificate is essential for accessing government benefits and schemes for small and micro enterprises. Any changes in the enterprise's details must be informed to the portal within thirty days of such a change.

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MSME / Udyam Registration in Affordable Price | Print Udyam Certificate

MSME / Udyam Registration in Affordable Price | Print Udyam Certificate

The government has formed a system to make it simpler for MSMEs to register. Udyam will be the manager of the company that will handle this process, and the registration process will be called ‘Udyam Registration Online.’ Following registration, you will be authorized a permanent registration number. A business is characterized as a micro, small, or medium organization if it meets the…

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Step-By-Step Guide on How to Shift  Manufacturing to India

India is increasingly becoming the preferred location for businesses looking to set up a strong business foothold, especially in the Asia-Pacific region. The reasons for this could be manifold. Cheap availability of skilled labour, availability of qualified and experienced managers, favourable tropical weather conditions, space, access to the huge and often diverse consumer market etc. are just some of the reasons in India.

Of late, many players in the technology sector, such as Apple have expressed a desire to shift a significant portion of their manufacturing bases to India. Apart from this, players in the FMCG, home appliances, education technology sector etc. are also planning to take similar steps. This article shall therefore provide you with a detailed guide on what regulatory compliances are required while shifting manufacturing processes to India.

Setting Foot in India

The first step toward setting up business in India, requires one to have a registered office in India. This would involve, either purchasing or renting a land and registering the same with the Registrar of Companies under Section 12 of the Companies Act, 1872as the registered office of your manufacturing unit in India. This is important because all legal notices of suits, arbitrations, etc. shall be sent to the same office and delivery to the registered office is considered due service of summons under Indian civil procedural law. Procuring a land would attract the provisions of the Indian Contract Act, 1872 and the Transfer of Property Act, 1882. The contract for sale or lease of the land must be for a lawful purpose and must not be used for manufacturing anything against the public policy of India, for example, for manufacturing prohibited drugs.

If the entity is looking forward to a long-term existence in India, they must either purchase the land or get a long-term lease. Section 105 of the Transfer of property Act, 1882 permits perpetual leases.

Industrial Licenses

Getting a license under the Industries (Development & Regulation Act), 1951 is the sine qua non for starting any manufacturing activity in India. Application for an Industrial License may be made online on the e-Biz portal of the government. Such a license, once granted is valid for a period of three years from the date of grant. While there existed strict licensing requirements under this act for almost all major commercial activities, the scope of the same has been drastically reduced over time.

In fact, from September 2019 onwards a license under this act is required for manufacturing activities in only four sectors- defence equipment, hazardous chemicals, tobacco and explosives. Apart from this,there are some sectors which are reserved only for the MSME sector. Non-MSMEs who wish to manufacture products in these sectors would then be required to get an industrial license for the same and are then also obliged to export 50% of the production for at least three years.

Industrial Classification Code

Once you have determined the sector for which you shall be manufacturing the goods and procured the requisite license for manufacturing the same, it is necessary that you also procure an Industrial Classification Code under the national Industrial Classification- 2008. This code helps the Central Statistical Organisation of the Central Government to keep updated records of all economic activities taking place in the nation. While these are more important for the government, than for the industry, having a business presence in India would imply conforming to this policy.

Conforming to Quality Standards

Once the unit is set for production, it is important that it meet the quality standards. The Bureau of Indian Standards Act, 2016 governs the same. Under the act, the BIS has appointed regional offices, where the factory must send its sample manufactured products for testing.Only if the tests

meet the prescribed quality standards for sale in the Indian consumer market will the unit be permitted to go ahead with mass production.

Registration as an MSME

In case your enterprise qualifies under the prescribed turnover limits, it is advisable to get registered under the relevant category an MSME. They are governed by the MSMEs Development Act, 2006. Under the Act, micro, small and medium sized industry is an entity involved in manufacturing or processing whose investment in machinery does not exceed 25 lakhs, 5 crores and 10 crores respectively. Once registered, an MSMEmust also get an Aadhar Udyog Registration number, which is a 12 digit Aadhar code given to MSMEs for easing regulation of MSMEs.The government has de vised several incentive-based policies, ranging from liquidity assistance, credit guarantee for borrowing, tax exemptions etc. to give a boost to the MSME sector.

While these were the general steps that every manufacturer has to be mind ful of, there are other special compliances required to be adhered to by a new business entrant in India. The Companies Act, 2013, the Goods and Services Tax Act, 2017, the Income tax Act, 1961, the Factories Act, 1948, are a few of such legislations.

Companies Act, 2013

This is the legislation with the maximum number of compliance requirements. Ranging from auditing, annual returns, maintenance of books of account, holding of annual general meetings, requirements relating to composition of the board, shareholders'rights, protection of minority shareholders etc.

However, these become applicable only once the manufacturing unit and

business entity have been successfully established in India. Therefore, apart from registration of the office, and registering the name of the entity in case of a start-up, not many provisions of the Companies Act, 2013 are directly applicable at the time of setting up of the manufacturing unit.

Foreign Investment Laws

If a foreign entity is planning to shift its operations to India, the most important relevant laws for that entity are those pertaining to foreign investment. Since setting up a new manufacturing unit in India, amounts to a greenfield investment,the laws pertaining to that will apply. These are primarily governed by the Foreign Exchange Management Act, 2000 and are subject to various regulations set by the central government and RBI for foreign investment in India. Such investment may either be through the direct route or the approval route. There are 11 specified sectors like atomic energy where prior approval of the government is necessary before investment. The other route is direct route wherein the entity may directly set up a unit in India.

The government has set limits for foreign investment in every sector. Therefore, the business entity must ensure that its investment in India falls under the sectoral limits. The DPITT issues the FDI Policy from time to time in this regard. It is therefore important to keep track of Press Notes issued by the DPIIT under the FDI Policy to track the latest developments in the area.

Ensuring compliance with foreign investment would require conforming to provisions of the Foreign Exchange Management (Non-debt Instruments) Rules 2019 and the RBI Circulars and master Directions. As these vary for different sectors, the entity would have to determine for itself, which of these provisions are applicable to it and which are not.

Tax laws

All registered entities doing business in India are liable to pay tax on the income they earn from India. This becomes more true for entities that seek to have a physical presence in the country, for example, a manufacturing unit. Section 115 BAB of the Income Tax Act, 1961 allows a newly set up domestic company in the manufacturing sector to pay tax at the rate of 15% of its total income. Apart from this, depending on whether the manufactured goods are transported intra-state or inter-state, the entity shall also be liable to pay the tax under the Goods and Services Tax, 2017. This will depend on the turnover of the entity, the sector in which it is operating, the State in which the manu facturing is being carried out etc. Again, these are applicable, once the entity starts manufacturing and begins earning profits and not at the time of setting up.

Environmental Laws

Indian environmentalists are becoming increasingly conscious of the effects industrial activities have on the environment. This has led to development of a strict jurisprudence on environment. The manufacturing entity therefore would have get environmental clearances under the EIA Notification, 2006 prior to setting up the unit. This would require the industry to submit detailed plans of the geographical area sought to be covered etc. to the authorities.

Pursuant to that, the respective Pollution Control Boards under the Water Act, 1974 and the Air Act, 1981 have the authority for inspection, collection of samples, and analyse the pollution being caused by the industry. They have even been vested with the authority to cancel the operating license of a unit if they find the operations to be extremely harmful for the environment.

Unlike, most other laws, these are applicable prior to setting up of the unit, and in fact constitute a pre-requisite for commencing operation.

Labour Laws

The factory being set up for manufacturing is bound to employ workers for its operation. The Factories Act, 1948, the Payment of Wages Act, 1936 and the Industrial Disputes Act, 1947 are just some of such legislations. They ensure workers get proper living wages, in a timely manner and have adequate means of dispute resolution with the employer.

Here are other social security legislations like the Maternity Benefits Act, 1961 (which provides for paid maternity leave for a period of 6 months), and the Workmen's Compensation Act, 1923 (which provides for compensation for injuries received at the workplace).

Sectoral Compliances

This is probably the most resource consuming compliance. This is because while other compliances are common to all industries, these are compliances that are specific to the sector your company operates in. For example, an entity manufacturing edible products, will have to comply with provisions of the Food Safety and Standards Act, 2006 and obtain a license from the FSSAI. Similarly, company engaged in refining oil and petrochemicals is bound by the provisions of the Boilers Act, 1923, and a company manufac turing drugs would have to obtain the relevant license under the Drugs and Cosmetics Act, 1940.

Since these vary from sector to sector, it won't be possible to list them exhaustively. The entity would have to make sure that these are complied with. Most of the time, the authorities do provide assistance in this regard. For example, for SEBI related compliances, there is an informal advice mechanism. Similarly, for tax related queries, the Authority for Advance Ruling usually clarifies the same.

Ricky Chopra International Counsels:

Full Service law Firms Excelling in Corporate Advisory

As a result, laws governing manufacturing and processing are changing by the day. Such a dynamic and unpredictable regulatory scenario is bound to burden business entities with the responsibilities of compliance. In order to

save time and resources sent of compliance, a lot of entities are increasingly resorting to assistance of Indian legal professionals, being more adept with the local laws.

Ricky Chopra International Counsels is one such corporate law firm in India which specializes in advising clients on regulatory and compliance requirements. We have decades of experience in assisting major corporate houses, including the Fortune 500 companies in setting up businesses, complying with local laws and fulfilling all regulatory requirements. Our full-service firm has experts in every possible field ranging from tax, capital markets, IPR, competition, and labour laws.

Conclusion

The Federation of Industrial Chambers of Commerce and Industry (FICCI) recently brought to the notice of the government that an entity that intends to set-up manufacturing in India requires close to 2000 regulatory compliances.

The government is therefore planning to streamline many of these processes and ease the norms for manufacturing entities. This is the need of the hour considering the number of entities that have expressed a desire to shift their production units to India. The improvement of India's rank in the Global Ease of Doing Business Index is also an indication that foreign investors are likely to show much interest in the Indian market in the coming years. It is only ad visable that the regulatory environment be made favourable for them when they arrive.

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online consulting services for getting udyog aadhar,msme,ssi registration from respective government authorities.Here is the sample udyog aadhar certificate 

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MSME Registration Online in Chennai | Udyog Aadhar Registration in Chennai

The micro, small and medium enterprises play an important role to be the part of the critical supply chain for services and products as well as an important piece of India’s legacy economic model. The sector plays a significant role in offering industrialization and large scale employment of backward and rural areas.

According to the NSS (National Sample Survey)73rd round, that was held in 2015-2016 states that there were more than 633.8 lakhs of non-agriculture and unincorporated organizations in the country and this deals to various economic activities offering employment to more than 12 crore workers.

It’s not mandatory to have SSI registration, but it’s suggested to micro, small and medium organizations to get them as it offers them with numerous benefits. Aanoor Global helps your business acquire UAM registration online to avail a host of advantages. Small scale industries online registration or MSME registration can be done with us quickly.

Different Types of MSME:

There are three types of UAM registration namely Micro, small, and medium enterprises.

Micro Enterprises:

The smallest entity is the Micro Enterprise. The investment of Micro Enterprises needs to be less than Rs 25 lakhs in machinery and plant as well as the micro enterprises should not exceed the investment of Rs 10 Lakhs.

Small Enterprises:

The smaller manufacturing organization investment can be from Rs 25 lakhs and Rs 5 crore in machinery and plant. The limit of the financing for the small enterprises is between Rs 10 lakhs and Rs 2 crore.

Medium Enterprises:

It is one of the medium enterprises which has an investment between Rs 5 crore and Rs 10 crore in machinery and plant. The limit falls between Rs 2 crore and Rs 5 Crore.

Documentation required for MSME/UDYOG/SSI Registration:

Aadhar card

Electricity Bill for Address Proof.

Mobile number and Mail Id.

Pan Card.

Canceled Cheque.

Any other Registration Certificate.

Name of Promoter/Owner.

Business Name.

Address.

Previous Registration Details if any

Bank Details

How to Register Udyog Aadhar?

Here is the registration process of Udyog Aadhar!

The owner of the Small and Medium Scale Enterprises need to fill a form, and this can be done both offline or online. If you are doing it online, the applicant can do directly by visiting the official website https://udyogaadhaar.gov.in/UA/UAM_Registration.aspx

If you have multiple industries, then you need to make sure you prefer choosing Individual registration.

In this form, the MSME has to self certify the business activity details, its existence, ownership, bank account, employment details, and related information.

The individuals need to give their self certified certificated during the process of registration.

No registration fees are required for this process.

Once you have filled the form, you can upload it online, and you will be provided with a register number. The number will be sent to your registered email id, and you need to make sure whether the UAN number provided is the same as the register number you received once uploading the form.

Eligibility:

Micro Enterprises, Small Enterprises, Medium Enterprises, Shop Registration, LLPs, Private & Public limited companies are eligible.

How many days will it take to register MSME?

Aanoor Global will help you with UDYOG registration and make it done in a single day at a competitive price.

Benefits

Benefits of MSME/SSI/UDYOG Registration:

SSI registration offers to you right to get avail advantaged under the UDYOG scheme of the government. One of the best benefits of registration is that the government will include your business or company in the state and central government schemes. It leads to awareness about the complete government transparency working process as well as the newly arrived schemes. Multiple benefits of UDYOG registration includes

Easy and quick Bank Loans:

All the business and organizations are registered under the UDYOG can make use of the advantages regarding bank loans. The collateral free loans are provided by the banks where your property or business will not get pledged with the banks. SIDBI and Government both create an individual legal entity that works to execute this scheme on all small and medium organizations.

Reservation advantages:

The industrial act amended by the Government is where every business that is registered under the SSI can make use of this scheme, and this helps to improve your good production and employment opportunities.

Easy to open license registration or any other business bank account:

The UDYOG registration certificate is one of the legal entity proofs of the company, so you will be able to open any current bank easily as well as make use of the current registration while registering for another license like GST and more.

Octroi Advantages:

Small organizations have to pay reasonable and services Octroi, and this causes increased cost in some cases. The small enterprise can make use of the govt scheme that offers the Octroi refund easily.

Quicker Approval from Central and State Govt Bodies:

The small or medium businesses that are registered under the MSME are always provided with first preferences especially in terms of government certification and license.

Affordable Infrastructure:

Charges are lower for companies that are SSI registered for facilities like VAP and Electricity exemptions.

Tender access:

Numerous government tenders are open only to SSIs to promote the participation of Small Businesses in India.

Registration charges and Stamp Duty Waived Off:

Previous all the organizations that expand their business in the SEZ or IT Park, they avail the advantages under the Stamp Act, but at present, the small organizations also can get benefited with this schema.

Various Subsidies on the Credit Rating and NSIC Performance:

All the small enterprises can make use of the advantages of the subsidy on different expenses via NSIC performance under this scheme.

Reduction on Interest rate by major banks:

Under this scheme, all important banks have the same policy regarding the loan for the SSI, and here you go.

20% of the total advance to small and micro enterprises should go for the enterprises that fall under manufacturing domain, and the enterprises have an investment between Rs 10 lakhs to Rs 25 lakhs in the plant and machinery, & also for enterprises that fall under services with equipment investment above Rs 4 lakhs.

Subsidy on the patent registration

Advantages in ISO Certificate

Concession in different bills

Security deposit waived off.

Get capital subsidy

Industrial Promotion subsidy

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How Indian small businesses might evolve in coming future

By 2020, SMEs in India is estimated to be around Rs. 1793.76 Billion market for emerging technologies. If SMEs hasn’t embraced technology yet, then it’s only a matter of time before it does or is forced to.

India’s Small and Medium Enterprises  (SME) sector is growing at a rate of 11.5% yearly. The SMEs contributes to approx 45% of India’s GDP, which is 3 times of what the Corporate contributes, as mentioned by way of the Future of Business Survey. When estimated, the  number of SMEs in India is 633 lakhs (National Sample Survey, 73rd Round). Out of this, 31% MSMEs were in Manufacturing, while 36% were in Trade and 33% in Other Services. Empowering SMEs will take us closer to the goal of a stronger & efficient economy.

Identifying this untapped potential, the government is working dedicatedly to push SMEs towards a digital economy proven successful in China. About 10 years ago, China accounted for less than 1% of the global e-commerce market; today its share is 42%. The fast pace of digitalisation is the game-changer for today’s economy in China. Companies like Alibaba and others have disrupted the retail industry by connecting suppliers and consumers directly through digital platforms. Mostly countries with great GDP are digitally well advanced. Identifying this, Indian Govt had started “Digital India” initiative in the year 2015. Furthermore, the introduction of the GST bill has eradicated indirect taxes, increased transparency in the tax process, giving easy access to start new businesses. Besides, PM Modi doubled the limit of small business loans to 2 crores as the Government believes SMEs to be the spine of the economy. Since September, 2015, Udyog Aadhar Memorandum (UAM) a self-declaration business registration platform has been put in place to promote ease of starting a business. Till the end of 2017, 38.99 lakh SMEs have registered on this platform. 

A recent business survey found that the more confident the business, the more likely it is to use digital tools. As a matter of fact, analysis says SMEs can increase revenue by 34% relying on digital tools. To drive successful SMEs, it is important to reduce unnecessary manpower with the power of digitalization & mobile technology. Already, the rise of digital India has prompted the rise of digital business accounting. Going digital can help SMEs control their internal finances better. Taking informed decisions gets easy when they have tighter control over their cash flow.  Coming to inventory, investing in dead stocks will squeeze their profits and make it hard for them to sell. SMEs can track these “soon-to-expire” items & sell them before others to avoid unnecessary spoilage. Finding out the best & worst selling products, the best time of the year to sell can be as quick as clicking a button when business data is maintained digitally. Capital access through loans becomes easier when SMEs have all business transaction history right which is possible through digital tools. The shift towards digital business will ease remote working possibilities too. “In just 3 years, more than 1 Million small businesses have adopted Vyapar App to effortlessly manage their daily business activities such as billing, inventory and accounting. As a result, they are able to make better sales while providing better service & experience to their customers,” says Sumit Agarwal, CEO of Vyapar, a GST Billing software.  Urging small businesses to adopt technology, Sumit says the future of SMEs lies in digitization. He believes if a small business hasn’t yet embraced technology, then it’s only a matter of time before it does or is forced to. 

When small businesses capitalize on Digital India opportunities, there is no reason why SMEs will not contribute more to the economy. Besides, when SMEs embrace technology, they can become more competitive and productive. Once this takes off, there is no stopping to the digital revolution in SMEs. However, a majority of businesses are lagged behind in digitalising their businesses. Technology penetration is still minimum, it is difficult for the small businessmen who are used to the old way of accounting, to learn how to grasp the latest technologies as most of whom are not well educated. Understanding the new digitized system to implement in their businesses appears as a challenge to them. 

Nonetheless, digitized businesses have the potential to drastically reshape the country. As India digitizes, SMEs will experience huge shifts in revenue and profit leading to rapid economic growth. India’s movement towards a corrupt-free cashless economy becomes easy. Payments will be made through credit and debit cards, bank electronic fund transfers or virtual wallets. Also, due to trackable digital transactions, the incidences of tax evasion will reduce drastically and in the long term will help in the better implementation of government policies. There will be no unaccounted money which fuels illegal transactions. SMEs will adapt to modern consumers with technology for providing better user experience due to which large companies will start to fall behind. The digital wave has begun, it’s still a long way to go!

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